Presentation on theme: "2010 MASFAA Conference Mississippi Office of Student Financial Aid: State Aid Update June 18, 2010."— Presentation transcript:
2010 MASFAA Conference Mississippi Office of Student Financial Aid: State Aid Update June 18, 2010
What a year! June 2009 – Former Director, Sr. Systems Analyst, & Program Administrator retire or resign June 30, 2009 – Receive FY 2010 Appropriation July 2009 – New Director begins; set program budgets August 2009 – Post initial award reports September 2009 – Summer awards requested September-October 2009 – Fall awards requested February 2010 – New program administrator hired January-March 2010 – Receive 3 budget reductions February-March 2010 – Spring awards requested March 2010 – Publish 09 Annual Report; Baby Rogers arrives! May 2010 – Receive FY 2011 Appropriation June 2010– Spring awards for CSA and GTS requested; set program budgets
Report on FY 2010 Budget Original SFA Budget: –General Funds: $30.2 M –Treasury Funds: $1.67 M –Other Funds (Spending Authority): $1.1 M –TOTAL: $32.97 M Five Gubernatorial Budget Reductions: –First and second reductions: No cut to SFA –Third reduction: % ($2.47 M) –Fourth reduction: % ($142,000) –Fifth reduction: % ($102,000) –TOTAL CUTS: % ($2.86 M)
Report on FY 2010 Budget Final SFA Budget: –General Funds: $27.3 M –Treasury Funds: $1.67 M –Other Funds (Spending Authority): $1.1 M –TOTAL BUDGET: $30.1 M
Effect of Budget Cuts No need to pro-rate MTAG! Potential negative effects offset by two factors: 1.Budgeted conservatively in anticipation of cuts Did not award loan/scholarships to all eligible students (saved money for spring MTAG) Cut administrative budget 2.MTAG awards down 3,411 or $1.6 million
2010 State Legislative Session No new legislation passed (no new programs established, no changes to existing programs) SFA Appropriation Bill for FY 2011: SB 3126 –General Funds: $26.9 M (Down $3.3 M from FY10) –Treasury Funds: $1.0 M (Down $670,000 from FY10) –Spending Authority: $4.7 M from Critical Needs collections, grants, interest, federal funds, etc. (UP $3.6 M from FY10) –Total budget/spending authority: $32.6 Down $400,00 from original FY2010 UP $2.5 M from actual FY2010!
What Does That Mean for Awards? Plan to award ALL eligible students for ALL aid programs Awarding will begin mid-June Money will be requested as soon as enrollment files are received.
Reminders Submit your LEAP tuition and fees information document – DUE June 30! Submit enrollment files 11 th day of fall classes. (We will disburse to schools in the order in which we receive files.) Submit grade files on 5 th business day following each term. Tell students to visit
Online college prep and career planning Encourage students to check it out, because success doesn’t just happen…there are steps students need to take - NOW.
What’s on RiseUpMS.com? Info to help students “Get Ready” for college Interactive tools Help with the admissions process The STATE AID homepage: –www.mississippi.edu/financialaidwww.mississippi.edu/financialaid
State Financial Aid Website Facts about ALL state student financial aid Check history of state financial aid Check award status Check for missing documents Answers to frequently asked questions
What is State Financial Aid? Grants Loan/Scholarships
State Grants Mississippi Resident Tuition Assistance Grant (MTAG) Mississippi Eminent Scholars Grant (MESG) Higher Education Legislative Plan for Needy Students (HELP) NISSAN Scholarship Summer Development Program Grant Law Enforcement Officers/Firemen (LAW) Leveraging Educational Assistance Partnerships (LEAP)
Mississippi Resident Tuition Assistance Grant (MTAG) 2.50 GPA (on a 4.0 scale) 15 ACT or 720 SAT NOT full Pell-eligible Enrolled full-time at eligible Mississippi institution AWARD: –Up to $500 as a freshman/sophomore –Up to $1,000 as a junior/senior
Mississippi Eminent Scholars Grant (MESG) 3.5 GPA (on 4.0 scale) 29 ACT or 1280 SAT or finalist/semi-finalist National Merit or National Achievement Program CAN be full-Pell Enrolled full-time at eligible Mississippi institution AWARD: Up to $2500/year
Higher Educational Legislative Plan for Needy Students (HELP) Mississippi resident 2 years prior to application 2.5 GPA (on 4.0 scale) 20 ACT Specific high school Core Curriculum (certified by counselor) 2-year avg. AGI of $36,500 Complete the FAFSA AWARD: Tuition at eligible 2- or 4-year public institutions or amount of public education at certain private institutions
Summer Developmental Program Grant Be accepted into the Summer Developmental Program at one of the state’s public universities Complete FAFSA - demonstrate financial need AWARD: Tuition for the Summer Developmental Program
Other Undergraduate Grants Nissan –Award: Tuition, required fees, book allowance Law Enforcement Officers/Firemen –Award: Tuition and room (housing) LEAP –Partnership between state and federal government –Administered by institutions –Award: Varies
Undergraduate Loan/Scholarships Teachers: –William Winter Teacher Loan/Scholarship Award: $4,000/year for juniors and seniors –Critical Needs Teacher Loan/Scholarship Award: Tuition, room, and board for juniors and seniors
Undergraduate Loan/Scholarships Health Care/Social Work: –Nursing Education Loan/Scholarship (BSN and RN- BSN) Award: $4,000/year for juniors and seniors –Health Care Professions Loan/Scholarship (speech pathology and psychology) Award: $1500/year for juniors and seniors –Family Protection Specialist Social Worker Loan/Scholarship Award: Tuition and required fees for juniors and seniors
Graduate Loan/Scholarships Teachers/Education: –Graduate Teacher Loan/Scholarship Award: $125/hour (up to 12 hours per term) –Counselor and School Administration Loan/Scholarship Award: $125/hour (up to 12 hours per term) –SREB Doctoral Scholars Program Award: $23,000/year –Public Management Graduate Intern Award: varies
Graduate Loan/Scholarships Health Care: –SREB Regional Contract Program (Out-of-state Osteopathic Medicine and Optometry) –Graduate and Professional Degree Program (Out-of- state Chiropractic Medicine) –Nursing Education Loan/Scholarship (Masters, Ph.D., DNP) –Nursing Teacher Stipend –State Dental Education Loan/Scholarship –State Medical Education Loan/ Scholarship –Veterinary Medicine Minority Loan/Scholarship
How to Get State Financial Aid: Apply online: Application Dates: –Jan. 1 – March 1: Nissan –Jan. 1 – March 31: HELP and ALL loan/scholarships –Jan. 1 – July 21: Summer Development –Jan. 1 – Sept. 15: MTAG/MESG –Rolling: LAW
Report on SFA Staffing Changes Promoted Meg Harris to Assistant Director of Student Financial Aid Hired Apryll Washington as Program Administrator for Critical Needs and Mississippi Teacher Loan Repayment programs Reduced size of secretarial/reception staff from three (3) to two (2).
MOSFA Staff OR Jennifer Rogers, Director – –Programs: GEAR UP, Youth Advisory Board Meg Harris, Assistant Director – –Programs: William Winter, Counselor and School Administrator, and Graduate Teacher Babs McAlpin, Program Administrator – –Programs: HELP, Nissan, Graduate and Professional Degrees, State Medical, State Dental, and Summer Development Apryll Washington, Program Administrator – –Programs: Critical Needs, MS Teacher Loan Repayment Vacant, Program Administrator –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 Beverly Jackson, Senior Systems Analyst – Wayne Carlisle, Systems Analyst – Stephanie Green, Office Manager – Shirley Mitchell, Secretary/Receptionist –