1. By Vesta Smith-Campbell

2.  Updates for 2010-11 ◦ Elimination of the FFELP system by 2010-11 ◦ New Perkins Loan Program ◦ Truth-In Lending Act ◦ New FAFSA Features ◦ Two consecutive Scheduled Pell Awards ◦ Survivors of Service Members ◦ Readmission of active duty service members ◦ Direct Loan Program ◦ Regulatory Exposure ◦ Net Price Calculator

3.  HERA (2006) reauthorized student loans through 2012 – eliminated special allowance for FFEL lenders (Proposed elimination of FFELPJune 30, 2010)  ECASLA (2008) Authorized the Secretary to purchase FFEL loans. Added additional $2,000 unsub eligibility.  September, began assigning FFEL loans to: FedLoan Servicing (PHEAA), Great Lakes Educational loan Services, Inc., Nelnet, and Sallei Mae.(1 st customer survey, December 2009)

4.  Proposed last day for Perkins loan (old) June 20, 2010.  Use existing systems. ED responsible for making, servicing, and collecting new Perkins loans.  Terms and conditions similar to unsub loans.  5% interest rate, annual and aggregate loanlimits and school-match requirements remain the same.

5.  ED and Federal Reserve system require Self- certification form for private loans. Draft copy 12/09 (see sample self-certification form)

6.  Authorized ACG and National SMART and budget relectes a proposed increase for 2010, but administration indicated no plans to extend programs beyond June 30, 2011.

7.  Students see graduation rates, and info about colleges listed on FAFSA.  Option to import tax information from IRS (pilot in 2009-10 and fully operational in 2010-11)  Tax information not available until after April 15 th  Blue  FAFSA on WEB address change to www.fafsa.gov www.fafsa.gov

8.  ISIRS now include retention rates, graduation rates, and transfer rates along with estimates of Pell, ACG, and loans.

9.  2010-11 Must be making grade level progression. (focus on achievement)  Use of COD additional eligibility indicator to process second Pell.  Duration of limited to 9 scheduled awards (dollars not terms).  Civil commitment for forcible or non forcible sexual offense not eligible for Pell

10.  Parent or guardian died as a result of military service in iraq or afghanistant after 9/11/2001.  Must be less than 24 or enrolled in postsecondary program when parent died.  If eligible for Pell already can be reduced to 0  If not eligible for Pell then eligible for Iraq and Afghanistan Service Grants. Grant is equal to maximum Pell Grant.

11.  To take away barriers for vets returning from active duty.

12.  Website for Schools www.dl.ed.gov/schoolswww.dl.ed.gov/schools  Website for students www.dl.ed.govwww.dl.ed.gov  Fully operational with 5 servicers  Continued use of servicers based on service levels to borrowers, schools, education, borrower defaults, and ongoing program compliance reviews.  All borrower’s loans (DL & FFEL) held by one servicer.

13.  Top 10 Findings  Consumer information ◦ Verified on PPA  Plan to combat copyright infringement  Compliant preferred lender list  Private loan disclosures  Code of Conduct ◦ Tracking of students going on to graduate school. ◦ Copyright policies and sanctions (new) ◦ Preferred Lender arrangements (new) ◦ Drug and alcohol policies (revised) ◦ Completion/graduation rates (revised) ◦ Campus Crime and Security (revised)

14.  NASFAA Free Webinar January 27, 2010  Net Price Calculator Template  Can use template or develop a customized version containing the same elements.  http://npc.inovas.net/institution/ http://npc.inovas.net/institution/