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2012-13 Budget Act Changes August 1, 2012 California Student Aid Commission.

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Presentation on theme: "2012-13 Budget Act Changes August 1, 2012 California Student Aid Commission."— Presentation transcript:

1 Budget Act Changes August 1, 2012 California Student Aid Commission

2 Cal Grant Eligible Lists

3  Eligible – institutions that are below the cohort default rate (CDR) of 15.5% and above the graduation rate of 30%. No awarding/disbursement restriction to Cal Grant recipients.  Exception one – Schools with less than 40% or less borrowing federal loans  Exception two – Schools with a CDR or less than 10% and a graduation rate above 20 percent for students taking 150 percent or less of the expected time to complete degree requirements  Ineligible – institutions that do no meet the CDR and graduation threshold rates. Institution may not receive and disburse Cal Grant funds to NEW recipients. Renewals may receive Cal Grant funds but at the 20% reduction. Eligible or Ineligible

4 Cost Estimate Screen in WG

5 Ineligible Institution – New Award

6 Ineligible Institution – New Award Correspondence

7 Ineligible Institution – New Award WebGrants for Students

8 Ineligible Institution – Renewal

9 Ineligible Institution – Renewal Award Correspondence

10 Ineligible Institution – Renewal Award WebGrants for Students

11  New and Renewal Cal Grant A and B recipients at private and independent institutions will have the maximum T/F award reduced by 5% from $9708 to $9223.  New and Renewal Cal Grant C recipients will have the T/F award reduced by 5% from $2592 to $2462 and B/S reduced by 5% from $576 to $547.  These students will be notified via of their award reduction the week of August 6. Eligible Institution Awards

12  New and Renewal Cal Grant B – Access only students received a 5% reduction from $1551 to $1473.  These students will not receive a formal notification, but can see the award reduction in their WGS account and the budget language on the WGS home portal

13 Grant Operations Memo Segment School EligibilityNew/RenewalProgram Award Amount Award Amount Student Correspondence CCCEligibleNew & RenewalB Access$1,551$1,473None C B/S$576$547None UCEligibleNew & RenewalA$12,192 None NewB Access$1,551$1,473None RenewalB T/F & Access$13,743$13,665None CSUEligibleNew & RenewalA$5,472$5,970None NewB Access$1,551$1,473None RenewalB T/F & Access$7,023$7,443None All OthersEligibleNew & RenewalA$9,708$9,223CSAC NewB Access$1,551$1,473None RenewalB T/F & Access$11,259$10,696CSAC Not eligibleNewA, B, CIneligible payment Letter 7644 RenewalA$7,776$7,380Letter 8305 RenewalB T/F & Access$9,327$8,853Letter 8305 RenewalC T/F & B/S$3,168$3,009CSAC

14  Cal Grant C scoring/selection and Top 2 % will occur this week and reflected on rosters starting August 6.  Cal Grant C will have the priority occupations from the Sb451 changes.  Operations Memo will be released by Friday. Cal Grant C & Top 2 %

15  Scheduled for Tuesday, August 14.  Eligible Institutions will receive a 50% fall term advance.  Ineligible Institutions will not receive a term advance, but rosters will be open to pay renewal students. Reimbursements will be made through the weekly supplemental process.  Institutions that have not submitted IPAs by August 14 will not receive a term advance and rosters will remain in halt pay status Fall Term Advance

16  Thank you for your participating in today’s webinar.  Please take a few minutes to fill out the survey when you exit WebEx. Your feedback will help us improve future webinars.  School Support Services PHONE: (for school administrators only)  Questions/Feedback


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