Download - UPDATES AND REMINDERS
2011 MASFAA Fall Training
Mississippi Office of Student Financial Aid:
State Aid Update
October 12, 2011
UPDATES AND
REMINDERS
FAFSA – State Application Interface
• Testing: November 2011
• Go Live: January 1, 2012
Policies & Procedures Manual
• Draft available; seeking feedback• Approvals:
– Post-Secondary Board: December 2011– IHL Board: January 2011
• Content:– Statutory authority for administration– MOSFA, institution, and student duties/responsibilities– Program funding/budgeting process– Application process/Determining student eligibility – Award offer/Disbursement processes– Repayment of loan/scholarships– Program Rules & Regulations
FY 2011 Budget
• Awarded all eligible applicants in all programs
• Exceeded general funds appropriated; used special funds from collection of repayment of loan/scholarships to fund balance
REVENUES
General Funds $ 26,915,820
Carryover - Treasury Fund $ 923,225
LEAP $ 286,315
Critical Needs Fund $ 530,237
Collections $ -
TOTAL Revenues $ 28,655,597
EXPENSES
Awards $ 27,734,605
Admin $ 920,992
TOTAL Expenses $ 28,655,597
FY 2012 Budget
• Awarded all eligible applicants in all programs
• Will exceed general funds and will expend all funds in special funds
• Will request deficit appropriation of approximately $750,000.
REVENUES
General Funds $ 26,878,808
Carryover - Treasury Fund $ -
Critical Needs Fund $ 2,023,443
Collections $ 2,176,886
TOTAL Revenues $ 31,079,137
EXPENSES
Awards $ 31,275,465
Admin $ 960,000
TOTAL Expenses $ 32,235,465
BALANCE
With All Revenue $ (1,156,328)
Awards ComparisonFY 2011 FY 2012
Program Name Awards Total Amount Awards Total Amount
MTAG 23,089 $ 14,016,722 22,014 $ 13,406,526
MESG 2,012 $ 4,810,293 2,074 $ 5,092,093
HELP 313 $ 1,533,711 647 $ 3,253,663
All Undergraduate Grants 26,773 $ 21,483,991 24,760 $ 21,960,950
Graduate Grants 7 $ 19,200 6 $ 34,000
Total Grants 26,780 $ 21,503,191 24,766 $ 21,994,950
CNTP 150 $ 1,848,604 174 $ 2,293,046
WWTS 454 $ 1,626,334 667 $ 2,505,329
NELB 226 $ 762,070 355 $ 1,354,388
Undergraduate Ln/Schols 1,021 $ 4,843,204 1,525 $ 7,243,519
Graduate Ln/Schols 277 $ 1,388,210 313 $ 2,036,996
Total Ln/Schols 1,298 $ 6,231,414 1,838 $ 9,280,515
TOTAL STATE AID 28,078 $ 27,734,605 26,604 $ 31,275,465
Farewell LEAP
• No federal funding for LEAP for FY12
• No state funding for LEAP for FY12
New Program
• Family Protection Specialist Social Worker Loan/Scholarship Program– Students MUST be employed by DHS as
Family Protection Worker I or II– Licensed Social Worker (Bachelor)– Licensed Master Social Worker (Masters)– Must work 3 years as Family Protection
Specialist (or higher) for DHS upon licensure
Program Change
• Veterinary Medicine Minority Loan/Scholarship – Affects MSU only– Increase award amount from $6,000 to full
tuition
Summer Disbursement for Nursing Education L/S
• Applies to: ASU, DSU, MC, MUW, UMMC, USM, and WCU
• Previously planning to award based on whether summer term required.
• Now planning to award based on application.
Enrollment Report for Nursing Students
• Applies to: ASU, DSU, MC, MUW, UMMC, USM, and WCU
• Report # of hours AND enrollment status (FT, PT, HT, QT) for nursing students
• Rationale: – Nursing students can be part-time– Various programs (particularly grad programs)
have widely varying definitions of part-time, making it very difficult for us to program for all possibilities
Graduation Date on Grade Report
• Required for 4-year institutions
• Add graduation date to Grade Report
• Character - Left justified. Format as ‘DD-MON-CCYY’. Example 13-DEC-2001
• Community colleges can have place-holder
• Rationale: – Improve data integrity for determining
separation dates for loan/scholarship recipients
Loan Servicing Change
• ACS: Old servicer
• ECSI: New servicer
• July 1: Conversion date
• Loan servicer manages ALL loan/scholarship accounts after exit
• Electronic entrance counseling, contracts/rules & regs, and exit counseling
Reminder: Deadlines
COMMON QUESTIONS
Where Is Our Money???• Students complete application; deemed eligible• Student receives award offer notification; school
sees student on Award Report• School submits Enrollment Verification Report• MOSFA processes Enrollment Verification Report• MOSFA requests money from IHL, which
requests money from DFA • DFA sends money to IHL, which sends money to
schools• MOSFA posts Disbursement Reports
Changes to Enrollment Status
• If a student’s status changes to full-time after you have submitted the Enrollment Verification Report, you may submit Enrollment Verification for student
• School bears responsibility of verifying enrollment
Returning Funds
• Policy– If student drops below full-time status AFTER
receives money, student keeps money for term and student loses for next term
– If student drops below full-time status BEFORE receives money, money returned for term and student loses for current term AND next term.
Full-time Enrollment
• 12 semester hours/9 trimester hours
• Only courses listed as “undergraduate” in course catalog accepted
• Courses must be term bound - some independent study or correspondence courses are not accepted
MOSFA Staff800-327-2980 OR 601-432-6997
• Jennifer Rogers, Director – [email protected]– Programs: GEAR UP, Youth Advisory Board
• Meg Harris, Assistant Director – [email protected] – Programs: William Winter, Counselor and School Administrator, and Graduate
Teacher• Beverly Jackson, Senior Systems Analyst – [email protected]
– Handles all reports (grade, enrollment, balancing) and rosters (disbursement, award, etc.)
• Stephanie Green, Program Administrator – [email protected] – Programs: Nursing Education, Nursing Teacher Stipend, SREB Regional Contract
Program, Vet Med, Health Care Professions, Law/Fire, Doctoral Scholars, Gulf Coast Research Lab Intern, and Public Management Graduate Intern
• Babs McAlpin, Program Administrator – [email protected] – Programs: HELP, Nissan, Graduate and Professional Degrees, State Medical, State
Dental, and Summer Development• Apryll Washington, Program Administrator – [email protected]
– Programs: Critical Needs, MS Teacher Loan Repayment• Wayne Carlisle, Systems Analyst – [email protected] • Renotta Jones, Administrative Assistant – [email protected] • Shirley Mitchell, Secretary/Receptionist – [email protected]
Questions?