Presentation is loading. Please wait.

Presentation is loading. Please wait.

MASFAA 2013 Annual Conference Mississippi Office of Student Financial Aid: State Aid Update Thursday, May 23, 2012.

Similar presentations

Presentation on theme: "MASFAA 2013 Annual Conference Mississippi Office of Student Financial Aid: State Aid Update Thursday, May 23, 2012."— Presentation transcript:

1 MASFAA 2013 Annual Conference Mississippi Office of Student Financial Aid: State Aid Update Thursday, May 23, 2012

2 Updates FAFSA-State API: Usage Results –Of 242,540 FAFSAs, 42,446 (18%) utilized state API –Of 62,978 state applications submitted online, 10,779 (17%) submitted through API –Average 2.5% annual increase in apps before API; 9% increase in apps first year; 7% second year New Postsecondary Board Member –Postsecondary Board authorizes MTAG & MESG –No appointment made yet by Governor Bryant –Term: May 1, 2013 - April 30, 2017

3 Updates State Policies & Procedures Manual –General Administration Rules and Regulations approved by IHL Board in May –Subject to APA process –P&P Manual will be published online after completion of APA process

4 Updates All Loan/Scholarship Rules and Regulations updated by IHL Board –Created consistent language and terminology –Clarified repayment terms and deferment/cancellation options –Undergoing APA process Loan Repayment Specialist Hired –Respond to questions related to repayment –Counsel students on repayment of state loans –Implement default prevention practices

5 2013 Legislative Session Tracked more than 40 bills Session focused on education HELP Core Curriculum Changed (HB 425): –Still requires 17-1/2 units: 15-1/2 units from the required IHL CPC + 1 unit of art (any MDE-approved course in the 500 series) + 1 advanced elective (MAY include Foreign Language II)

6 2013 Legislative Session Critical Needs Dyslexia Therapy Loan/Scholarship (CNDT) Updated (HB 672): –Annual awards increased from 10 to 20 per cohort –Language requiring specific appropriation removed –Awards will be made in 2013-14

7 2013 Legislative Session Teacher Education Scholars Loan/Scholarship Program (TES) Created (SB 2658): –Element of Governor’s “Education Works” Agenda –$1.5 million appropriated for awards in 2013-14 –Award Amount: $15,000 annually for up to four years –Eligibility Requirements: 28 ACT; 3.5 GPA Must enroll in four-year college or university May receive as freshman –Repayment Obligation: Teach in MS public schools for five full years No partial service/cancellation allowed

8 2013 Legislative Session Deficit Appropriation for FY 2013 (HB 19) –Additional spending authority of $2,000,000 –Spend from collections (reserves) –Not new money or General Fund money Annual Appropriation for FY 2014 (SB 2853) General Funds$36.3 million Spending Authority$ 1.5 million TOTAL$37.8 million

9 2013 Legislative Session Failed Legislation – HB 818 –Combine state aid code from 8 sections into 1 –Expand the size and function of the Postsecondary Board –Centralize authority for all state aid programs under the Postsecondary Board –Streamline administration Will seek support again in 2014

10 Report on FY 2013 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 Requested/received deficit appropriation

11 FY 2013 Budget Revenues Expenses Balance General Funds $ 29,578,808.00 Awards and Administration $ 33,191,546.00 $ (3,612,738.00) Spending Authority (from collections) $ 3,100,000.00 Direct from Collections $ - $ 3,100,000.00 Carryover - Treasury Fund $ - Direct from Caryover $ - Ayers $ 750,000.00 SUMD $ 750,000.00 $ - Add'l Spending Authority $ 2,000,000.00 NISS & GUMS $ 172,436.00 $ 1,827,564.00 CGSA $ 20,250.00 $ (20,250.00) Total Revenues $ 35,428,808.00 Total Expenses $ 34,134,232.00 $ 1,294,576.00

12 2013-14 Awards Applications for HELP are up again Plan to award all eligible applicants Will begin making awards as Spring grade files are processed Submit Spring grade files ASAP!

13 MOSFA Staff 800-327-2980 OR 601-432-6997 Jennifer Rogers, Director – –Programs: GEAR UP, Youth Advisory Board, Meg Harris, Assistant Director – –Programs: William Winter, Counselor and School Administrator, and Graduate Teacher, Nursing Programs (N-Z) Beverly Jackson, Senior Systems Analyst – –Handles all reports (grade, enrollment, balancing) and rosters (disbursement, award, etc.) Babs McAlpin, Program Administrator – –Programs: HELP, Nissan, Graduate and Professional Degrees, State Medical, State Dental, and Summer Development, SREB Regional Contract Program, Vet Med, Health Care Professions, Law/Fire, Doctoral Scholars, Gulf Coast Research Lab Intern, and Public Management Graduate Intern Apryll Washington, Program Administrator – –Programs: Critical Needs, MS Teacher Loan Repayment, Nursing Programs (A-M) Anitra Bender, Loan Repayment Specialist – Renetta Bell, Systems Analyst – Renotta Jones, Administrative Assistant – Shirley Mitchell, Secretary/Receptionist –

14 Questions?

Download ppt "MASFAA 2013 Annual Conference Mississippi Office of Student Financial Aid: State Aid Update Thursday, May 23, 2012."

Similar presentations

Ads by Google