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Session 43 Financial Aid For Technical Staff Wood Mason.

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Presentation on theme: "Session 43 Financial Aid For Technical Staff Wood Mason."— Presentation transcript:

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2 Session 43 Financial Aid For Technical Staff Wood Mason

3 Session 43 Al Beeouttahere

4 3 But First… It’s Picture Time!

5

6 Session 43 Send $50 cash to… Al Beeouttahere 555 East West Ave Algernona, GA 67890

7 6 In a Nutshell… Student applies ED calculates EFC School determines aid offered

8 7 History… Harvard University –May 9, 1643 Lady Ann Radcliffe Mowlson endowed Harvard’s first scholarship fund –1840 Harvard’s first loan program

9 8 History… Peabody Education Fund –1867 –$2 million dollars over 30 years

10 9 History… 1867 –U.S. Department of Education 1979 –cabinet level post

11 10 History… National Youth Administration –1935 –FDR “New Deal” program –can you say Tech School?

12 11 History… Serviceman’s Readjustment Act Veteran’s Readjustment Assistance Act

13 12 History… 1950’s –Nat’l Defense Education Act of 1958 Nat’l Defense Student Loan Program (morphed into Perkins Loan Program)

14 13 History… Higher Education Act of 1965 –Guaranteed Student Loan Program –Educational Opportunity Grant

15 14 History… Higher Education Reconciliation Act of 2005 –ACG/National SMART awards –GRAD/Professional Student PLUS borrowers

16 15 Application FAFSA –Free Application for Federal Student Aid

17 16 Application NOTE: All COD interfaces routed through EAI except DCS. SAIG Schools EFC Calc DB Matches Central Processing System (CPS) Students * *FOTW – FAFSA on the web

18 17 Application Aid Eligibility/Determination –CPS Central Processing System –EFC Expected Family Contribution

19 18 Awarding COA (Cost of Attendance) – EFC NEED

20 19 Awarding Grants –Pell Grant –ACG (Academic Competitiveness Grant) –National SMART Grant (National Science and Mathematics Access to Retain Talent Grant)

21 20 Awarding Campus Based Programs –FSEOG Federal Supplemental Educational Opportunity Grant –FWS Federal-Work Study Program –Perkins Loan Program

22 21 Awarding Loan Programs –William D. Ford Federal Student Direct Loan Program –Federal Family Education Loan Program –alternative loans

23 22 Awarding School Aid –scholarships –grants

24 23 The COD Boogie SAIG Financial Mgt System (FMS) Loan Servicing System (DLSS) ACG, SMART, Direct Loan and Pell Origination, Change and Disbursement data Batch and web- generated Responses Central Processing System (CPS) Loan Bookings & Disbursements School Eligibility Data Funding Transactions Payment Transactions Student Level Grant Data Student Level Direct Loan Data FMSS / GAPS Schools Drawdowns Post Secondary Education Participant System (PEPS) Student Applicant Data Payment Transactions Student Data Storage (NSLDS) Common Origination & Disbursement (COD) Transaction Processing WebReports Customer Service Center Applicant Services Debt Collection Services (DCS) Student Pell Payment Data

25 24

26 25 The COD Boogie SAIG ACG, SMART, Direct Loan and Pell Origination, Change and Disbursement data Batch and web generated Responses Central Processing System (CPS) GAPS Schools Drawdowns Student Data Storage (NSLDS) Common Origination & Disbursement (COD) Transaction Processing WebReports Customer Service Center Applicant Services

27 26 Processing – COD Common Origination & Disbursement (COD) –Pell –ACG –National SMART Grant –Direct Loans

28 27 Processing - COD Common Record Response

29 28 The Award Year July 1, 2007 – June 30, 2008 –applications –awarding

30 29 The Award Year Summer term –program year closeout for loans (prior award year) –applications –awarding –header/trailer

31 30 The Award Year Fall PEAK –traditionally chaotic –registration and start –Grant year-end reconciliation and closeout

32 31 The Award Year Spring PEAK –registration and start of classes –transfers –grant global jobs –applications/awarding for NEXT award year

33 32

34 33 The Next Award Year Program changes –rules –regulations –requirements –edits –dollars and data

35 34 The Next Award Year IT changes –all of it... CPS COD any other system that touches your school

36 35 Talkin’ the talk… COD Tech Ref –glossary –IFAP.ed.gov Information for Student Aid Professionals

37 36 Talkin’ the talk… ACA –Administrative Cost Allowance POP –Potential Overaward Process MRR –Multiple Reporting Record

38 37 Talkin’ the talk… SRC –School Relations Center COD customer service center in Niagara Falls, NY CSR –Customer service representative

39 38 Talkin’ the talk... GAPS –Grants Administration and Payment System from whence all moneys come funding method –Advance Pay –Pushed Cash

40 39 Talkin’ the talk... NSLDS –National Student Loan Database System FAA Access Online

41 40 Talkin’ the talk... CPS –Central Processing System SAIG –Student Aid Internet Gateway

42 41 The Care & Feeding of your FA Colleagues “Could you use a little more scheduled time on the box, or maybe some additional bandwidth for transmitting”

43 42 The Care & Feeding of Your FA Colleagues “Enrolled your transfer students in NSLDS’ transfer monitoring and alert activity? I’d hate to see you spend precious time dealing with a POP’d student during Spring Peak”

44 43 The Care & Feeding of Your FA Colleagues And finally...

45 44 The Care & Feeding of Your FA Colleagues ” Silly computer system! Really, it’s not your fault. I’ll get the back-up CD and you’ll be up and running in no time”

46 45

47 46 Questions? I appreciate your feedback and comments. I can be reached at: Name: Wood Mason Phone:


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