Presentation is loading. Please wait.

Presentation is loading. Please wait.

PRASFAA 2009 Fall Conference October 16, 2009 1. Year Round Pell Raul M. Galvan Federal Student Aid Special Initiative Services 2.

Similar presentations


Presentation on theme: "PRASFAA 2009 Fall Conference October 16, 2009 1. Year Round Pell Raul M. Galvan Federal Student Aid Special Initiative Services 2."— Presentation transcript:

1 PRASFAA 2009 Fall Conference October 16,

2 Year Round Pell Raul M. Galvan Federal Student Aid Special Initiative Services 2

3 Year Round Pell is a Nickname Old Law A Pell recipient will receive up to ONE scheduled award in an award year New Law A Pell recipient will receive up to TWO scheduled awards in an award year Effective award year funds PRWR2SAAY YRP 3

4 Year Round Pell The Statute HEOA Guidance for –GEN –Webinars and presentations NPRM – PROPOSED!! Final Regs expected November 1, 2009 –Effective

5 5 Year-Round Pell Grant Students may receive up to two scheduled Pell Grants during an award year –For receipt of the first scheduled award, student may be at any enrollment status –For receipt of any money beyond the first scheduled award, student must be enrolled at least half-time

6 6 Term-Based Calculation Before Year-Round Pell Grant Old Rule: One Scheduled Award per Award Year Students Scheduled Award is $4,000 in both award years Spring 2010 $2,000 Summer 2010 $2,000 Fall 2009 $2,000 Fall 2010 $2, Award Year Award Year Spring 2011 $ % AY 100% AY

7 7 Term-Based Year-Round Pell Grant Spring 2010 $2,000 Fall 2010 $2,000 Fall 2009 $2,000 Spring 2011 $2, Award Year Award Year Summer 2011 $2,000 Summer 2010 $2, % AY 150% AY New Rule: Up to Two Scheduled Awards per Award Year Students Scheduled Award is $4,000 in both award years

8 8 Term-Based Year-Round Pell Grant New Rule: Up to Two Scheduled Awards per Award Year Students Scheduled Award is $4,000 for the award year Fall 2009 $2,000 Summer 2010 $2,000 Summer 2009 $2, Award Year Spring 2010 $2, % AY

9 One Scheduled Award Per Award Year 9 One Scheduled Awards Funds Spent on Academic Year One Scheduled Awards Funds Available for Award Year Academic Year Award Year

10 Two Scheduled Awards Per Award Year 10 1st Scheduled Awards Funds Spent on AY Year Academic Year Two Scheduled Awards Funds Available for Award Year Award Year 2nd Scheduled Awards Funds available when 1 st is spent Academic Year

11 11 Two Scheduled Awards Per Award Year Crossover payment periods will still exist –Starts in one award year and ends in the next Pell funds are linked to an award year –G5 must know what years funds are being drawn down Student must be eligible for that years funds –Pell eligible ISIR Effective July 1, 2009

12 Year-Round Pell Grant Effective with the award year –09/10 maximum scheduled award is $5,350 –For receipt of the first scheduled award, student may be at any enrollment status –For receipt of money from the second scheduled award, student must be enrolled at least half-time 12

13 Year-Round Pell Grant Schools will continue to calculate the payment using scheduled award for award year –Not two scheduled awards Schools will be able to pay a student up to a maximum of 200% of the scheduled award for the award year 13

14 Year-Round Pell Summer 2009 Implementation Summer 2009 is cross-over term if it includes both 6/30/09 & 7/01/09 School has option: –Use funds Pay using students remaining 08/09 scheduled award OR Not pay because student has no 08/09 scheduled award remaining OR –Use funds Pay using students 09/10 scheduled award 14

15 Year-Round Pell Summer Mini-Sessions Standard term programs using Pell formula 1 or 2 count the summer term as a standard term –May consist of mini-summer terms/sessions which are combined and handled like a standard term –Full-time for the combined summer terms/sessions must be defined as 12 credits –Length of summer terms/sessions does not matter 15

16 Year-Round Pell Summer Mini-Sessions School with standard terms has 4 summer mini-sessions Session I:May 4 – June 5 Session II:May 18 - June 19 Session III:June 8 – July 10 Session IV: July 6 – Aug 7 School combines all 4 sessions into one 14 week summer term (May 4 – Aug 7) Summer is a crossover payment period Students may take courses in any session and still are enrolled in the combined summer term 16

17 Year-Round Pell Summer Mini-Sessions Student A enrolls only in Sessions I and II May 4 – June 19 Student B enrolls only in Sessions III and IV June 8 - August 7 Student C enrolls only in Session IV All are considered to be enrolled in combined term that starts May 4 and ends August 7 Assuming valid ISIR for both 08/09 and 09/10, may be paid Pell from either award year 17

18 18 May 18 to June 19 May 4 to Jun 5 Student A: Attends only Sessions I and II July 6 to Aug 7 June 8 to July 1 All mini-sessions combined as one standard term Student B: Attends only Sessions III and IV award year July 1, award year All mini-sessions combined as one standard term July 6 to Aug 7 All mini-sessions combined as one standard term Student C: Attends only Session IV 18

19 Year-Round Pell Summer Mini-Sessions Nonstandard term programs using Pell formula 3 –Do not combine mini-summer terms/modules –Full-time for the mini-summer terms/modules is not defined as 12 credits –Length of summer terms/modules does matter for determining amount of Pell 19

20 20 May 18 to June 19 May 4 to Jun 5 Student A: Attends only Sessions I and II July 6 to Aug 7 June 8 to July 1 All mini-sessions combined as one standard term Student B: Attends only Sessions III and IV award year July 1, award year All mini-sessions combined as one standard term July 6 to Aug 7 All mini-sessions combined as one standard term Student C: Attends only Sessions IV 20

21 COD and Year-Round Pell New field added to COD record –Additional Eligibility Indicator (AEI) School sets AEI to true on origination record when awarding any part of second scheduled award AEI student will not trigger POP MRR but will trigger concurrent enrollment MRR 21

22 Proposed Regulations for NPRM published August 21, 2009 Comment period has closed Final will be published on or about November 1, 2009

23 NPRM - Year Round Pell To receive a second scheduled award, student must –Successfully complete credit or clock hours of the first academic year in the award year –Enroll in an eligible program leading to a bachelors or associate degree or other recognized educational credential –Enroll at least as a half-time student 23

24 NPRM - Year Round Pell School may waive requirement to complete hours of the academic year –Must be due to circumstances beyond the students control –Must be determined and documented on individual basis –May include circumstances such as illness or classes not offered Does not include withdrawing to avoid a grade or failing to register for offered class 24

25 NPRM - Year Round Pell: Transfers Assume completed first academic year if received all of first Scheduled Award at prior institution –If less than first Scheduled Award was received, assumption that student completed the same ratio of the academic year as the % of Pell received 25

26 NPRM - Year Round Pell: Crossovers Full-time or three-quarter-time –Must assign a crossover payment period to award year in which student receives greater payment at time payment is initially calculated –Must reassign if subsequent information shows greater payment would result Half-time or less –May assign to either year Must assign if student requests to maximize benefits over 2 award years 26

27 NPRM - Year Round Pell: Payment from Second Award Payment for payment period is greater than balance of first Scheduled award Payment is remaining amount of first Scheduled Award plus an amount from second Scheduled Award for the balance of the payment 27

28 Other Pell Issues Not Related to YRP Effective This Year or Earlier

29 Maximum Duration of Eligibility Limits Pell eligibility to 18 semesters –Department equivalent is 9 scheduled awards Applies only to students who are first-time Pell recipients in the award year or after –Students enrolled less than full-time will be assessed at the fractional enrollment status 29

30 Maximum Duration of Eligibility COD will track student usage –Percentage used available in COD and NSLDS beginning July 2009 and will appear on the ISIR beginning in

31 Maximum Duration of Eligibility 31 Fall 2009 TQT Fall 2010 HT Summer 2014 FT Fall 2014 FT Spring 2015 FT Fall 2008 FT Spring 2009 FT Spring 2010 TQT Summer 2010 TQT Students Pell disbursements basedPercentage Used on enrollment status per payment period 787.5% = 100% Summer 2011 HT Fall 2011 HT Fall 2015 FT Summer 2015 FT 200% Spring 2016 FT Summer 2016 FT Fall 2016 FT 112.5% 75% 150% Spring 2017 FT Summer 2017 FT 150% = = = = =

32 Maximum Pell Eligibility For Dependents of Military Personnel Killed in Iraq/Afghanistan Effective only for those who have Pell eligible EFC on processed FAFSA Match with Defense in progress –Until match in place New field added to COD website –Post 9-11 Deceased Veteran Dependent Indicator 32

33 Contact Info Raul Galvan Special Initiative Services United States Department of Education Federal Student Aid Dallas Regional Office


Download ppt "PRASFAA 2009 Fall Conference October 16, 2009 1. Year Round Pell Raul M. Galvan Federal Student Aid Special Initiative Services 2."

Similar presentations


Ads by Google