Presentation on theme: "Students Finance Automated Confirmation of Registration (COR) Ministry of Advanced Education and Technology (AET) CASFAA Presentation June 2011."— Presentation transcript:
Students Finance Automated Confirmation of Registration (COR) Ministry of Advanced Education and Technology (AET) CASFAA Presentation June 2011
Alberta Student Financial Assistance 2 Although Alberta is not integrated with Canada Student Loan Program (CSLP), we work very closely with our federal and provincial partners in delivering funding to post secondary students. We have one full time post secondary funding application but calculate dual (federal/provincial) assessments for a learner’s financial award. The financial award can be comprised of Federal and Alberta Funding issued as: Federal Loans (paper certificates) Alberta Provincial Loans (paper or electronic certificates) Federal and Provincial Grants (cheques)
Students Finance System (SFS) 3 Alberta’s web based SFS system supports an on-line, real-time financial award calculation for full time post secondary funding. Students can apply for funding on-line or by paper and can inquire on-line. Schools can inquire on-line for funded learners attending their institution. Alberta Schools can participate in automated confirmation of registration or complete student confirmations manually.
Interesting Annual Stats: 4 54,046 funding applications received online (75%). 31,000 AB Loans produced as electronic (46%). 104 of 108 Post Secondary Institutions in Alberta with programs designated for funding are participating in automated COR (96%). 80% Confirmation Registration requests are automated. $115 million – Requested as tuition remittance using automated COR.
Campus Alberta Framework - Major Contributing Factor to Successful Automation 5 Stakeholder Registry – SHR Common Learner Identifier – Alberta Student Number (ASN) Secure Identity & Access Management System - SIAMS Ministry security system – learner authentication Provider and Program Registry - PRS Common Studies Information Apply Alberta Student web application for post secondary admission to Alberta public institutions. Creates student profiles and academic history to be shared on each public post secondary application.
Automated COR in Alberta 7 One time confirmation of registration concept. Once a school confirms a learner is registered full time in a program session, we assume the learner continues to attend full time unless told otherwise by the school or the student. Confirmation of registration is at the Learner’s Funding Application level - not at the disbursement level.
Memorandum of Agreement Access 8 Schools sign a Memorandum of Agreement (MOA) for access to Learner Information in SFS and COR. Includes school responsibility for: Access to Information Use of Learner Information Confidentiality Compliance with COR Guidelines
Confirmed As “Yes” – Now What? 17 Learner’s application COR request is updated along with who/when/how confirmed. Remittance applied to loan funding due (federal first then provincial). ALL funding (loans and grants) for the application are set to be released when due. Service Provider notified to reinstate interest free status for learners with existing loans.
Confirmed As “Yes” – Now What? (cont’d) 18 If Confirmed as “Yes” prior to or by the return date: If Alberta loans due and Alberta Master Loan Agreement previously received; loans issued as electronic certificates (paperless) with “automated” confirmation and tuition remittance. Otherwise, paper loan certificates due are issued as “automated” confirmation and tuition remittance printed on cert. (learner does not have to take the certificate(s) to their school to sign) If Confirmed as “Yes” but after the return date: Paper loan certificates issued the day after the COR return date. Learner must have school complete the certificate (sign and request remittance). If cashed loan information received prior to on-line confirmation, learner is set to confirmed based on the cashed info. Grant funding released when due.
Tuition Remittance Requested – Now What? 29 Certificates issued as “Automated” Confirmed when due. If request for remittance received by return date, then tuition remittance applied to funding (Federal then Provincial). “Print Remit Amount” will be displayed on SFS for the disbursement. When provincial loans cashed, remittance portion sent to school by provincial service provider. When federal loans cashed, remittance portion sent to school by federal service provider.
Additional Tid Bits…behind the scene 31 COR Dates (ie: COR start, return date, cancelled ) are calculated based on parameters that can easily change if needed. There are various status’s for the COR request to help control when we show it to the school (Pending, Required, Archived, No Longer Required). Several rules for tuition remittance being requested by schools. There is a Manual COR Process for schools not participating in Automated COR (mostly out of province schools).
Your consent to our cookies if you continue to use this website.