Presentation on theme: "A Reminder of Who We Are… KHEAA and SLP are self-supporting entities, created by State Government. Our mission is to provide information about higher."— Presentation transcript:
A Reminder of Who We Are… KHEAA and SLP are self-supporting entities, created by State Government. Our mission is to provide information about higher education opportunities and administer FFEL and state student aid programs. We reinvest any revenue in Kentucky students through our loan programs. Kentucky students are our stockholders! We are non-profit, but we must generate revenue to support operations and administrative expenses. We partner with you, the front-line financial aid professionals, in all that we do. You and I, as financial aid professionals, have recently taken several cheap shots in the media that have had a spill-over effect in congressional committee rooms. In spite of outside forces, serving students remains our number one concern.
KHEAA-administered State Programs Kentucky Educational Excellence Scholarship (KEES) College Access Program (CAP) Grant Kentucky Tuition Grant (KTG) Teacher Scholarship Osteopathic Medicine Scholarship Kentucky National Guard Tuition Award Early Childhood Development Scholarship Robert C. Byrd Honors Scholarship Mary Jo Young Scholarship KHEAA Work-Study Program Kentucky’s Affordable Prepaid Tuition Kentucky Education Savings Plan Trust GoHigher Grant Program (New)
New GoHigher Grant Program New need-based grant for adults Awards up to $1,000 for tuition and a book allowance for only one academic year. Applicants must: Demonstrate financial need by completing a FAFSA. Be age 24 or older. Be Kentucky residents. Be first-time enrollees, meaning they have never taken college courses before applying for this program. 2007-2008 academic year is a pilot year.
Student Aid Disbursements YTD—March 2007 Original appropriations for grants and scholarships— $188,588,000. Adjusted appropriations— $191,063,866.
Student Aid 2007-2008 maximum EFC index for CAP Grant—4110 2007-2008 Maximum Award Amounts CAP—$1,900KTG—$3,000.
Loans KHEAA Guarantees during this FY to date have exceeded $1 billion with one quarter to go. Student Loan People New service for loan customers— Electronic Payment, Information, and Communications (EPIC) Offers the convenience of online payment and electronic retrieval of statements and correspondence. New Consolidation e-Sign feature— coming this spring on SLP’s website
KHEAA System Enhancements Online Default Management System New default management tools to assist schools in default prevention efforts. Schools can generate correspondence to any or all of delinquent borrowers. Service will be available to schools upon request or carried out by KHEAA Default Aversion Branch. Available soon.
KHEAA System Enhancements Alternative Loan Services Centralized point for certification of alternative loans for multiple lenders. Centralized disbursing for alternative and FFEL loans. Announcement of availability will be made soon.
KHEAA System Enhancements Common Record: CommonLine (CRC) Newest industry standard for loan processing information. New technology structure. Must be acceptable with school-based software system. Available now. We are now in a position to conduct system testing with schools.
KHEAA System Enhancements Entrance Counseling School inquiry for entrance and exit counseling. Single record or by a date range. Available through Zip Access under the Loan Processing option. Monitoring entrance counseling requirement. Disbursement release. Inclusion with eSignature process. Available soon.
Federal Legislation College Student Relief Act (H.R. 5) President’s FY 2008 Budget Proposal Student Debt Relief Act (S. 359) Student Aid Reward (STAR) Act Pell Grant Equity Act (H.R. 990) Student Loan Sunshine Act (S. 486)
Senator Mitch McConnell Senator Jim Bunning Representative Ed Whitfield Representative Ron Lewis Representative John Yarmuth Representative Geoff Davis Representative Hal Rogers Representative Ben Chandler
Tell the Student Aid Story College presidents Other campus administrators Regional education officials State legislators
Borrower Benefits Board adopted financial policy reaffirming KHEAA/SLP commitment to reinvest revenue in Kentucky students through borrower benefits. Specialty benefits for Consolidation Loans and parents PLUS Loans modified.
Center for Rural Development Trainings May 8, 2007 – Awarding Aid June 12, 2007 – Disbursing Aid July 10, 2007 – Leadership Skills – Secrets from Santa Claus August 14, 2007 – Generational Differences September 11, 2007 – Effectively Marketing College Access to Teens October 9, 2007 – Coping with Difficult People Entrance and Exit Counseling DVD Being considered.
Staff Changes New Positions Tom Wantuck—Senior Vice President of Asset Management Matt Korn—Senior Vice President for Finance and Accounting David Carlsen—Vice President of Financial Management Linda Sewell—Vice President of Human Resources Jill Carney—Originations and Disbursement Services Branch Manager Retirement Linda Renschler—Director of Student and Administrative Services. Her last day in the office was April 6. Tom Wantuck David Carlsen Matt Korn Linda RenschlerJill Carney Linda Sewell