Lyn Wheeler Kinyon Assistant Director, Grants and Special Programs Texas Higher Education Coordinating Board TASFAA Conference October 9, 2014
Program Update Overviews Tuition Equalization Grant (TEG) Texas College Work-Study (TCWS) College Access Loan (CAL) B-On-Time Loan (BOT) Coordinating Board Identification (CBID) Negotiated Rule-Making (NRM) and Allocations Financial Aid Database (FADB) and End-Of Year (EOY) Reports 2
Effective beginning 2015/16: The maximum award amount will increase since appropriations for public university students have increased in the current biennium – announcement made by January 31 Awards cannot exceed the lesser of the student’s need, tuition differential, or published maximum An additional $18 Million ($9 Million per year) has been requested for the upcoming biennium 3
The Fall 2014 TEG Need Survey: used to determine FY2016 allocations disseminated September 19 due by the close of business November 7 The FY2014 TEG Audit Guide: was disseminated June 20, 2014 future guides will be disseminated in April due by the close of business April 15, 2015 Contact Rafael Villarreal or ) if you need 4
Minor TEG Rule Updates: Proposed and posted to the Texas Register for adoption in January Basically just ‘clean-up’: Substitution of “first” for initial and “subsequent” for renewal Clarification of “branch campus” $300 tolerance for additional resources after disbursement, not award determination 5
Deferred Action for Childhood Arrivals (DACA) Department of Homeland Security (DHS) exercises its prosecutorial discretion to forego immigration enforcement against certain individuals for a specified period of time DACA does not confer lawful immigration status, nor does it provide a pathway to citizenship DACA recipients are eligible for work authorization, to apply for SSN’s, and possibly to obtain a driver’s license May be renewed or terminated May be able to work under TCWS if otherwise eligible 6
Effective beginning : New origination fee structure based on the highest credit score of the student or cosigner: Interest rate will continue to be a simple fixed rate of 5.25% 7 Prior to Beginning Credit ScoreVantageScore ≥ 700VantageScore ≥ 591 Origination Fee Borrower OR Cosigner Approved – 5% ___________________________________________________________________________ Borrower AND Cosigner Approved – 3% Borrower OR Cosigner ScoreTierRate ≥ ≤ 590 A B C N/A 0% 3% 5% Denied
Effective beginning : Institutions will have until February 20 th, or the first working day thereafter, to encumber funds As of this date, institutions will lose claim to any unspent funds not yet reserved for students Funds released will be available for reallocations to other institutions Reallocation method will be the same as the initial allocation method 8
Any unencumbered FY14 funds have been carried forward and added to the FY15 allocations Updated allocations are posted to under the institution’s linkwww.HHLoans.com LPO questions should be directed to: or or
New system functionality to access the TEG database and payment processes: Effective September 15, 2014 Institution Master (IM) Other Institutional Users For assistance, contact: Rafael Villarreal or 10
SB215 requires negotiated rulemaking to determine the allocation process for those programs with allocations: Consensus was reached for TEG, TCWS, and BOT New rules were adopted in January and are now included in the program rules The new NRM formula was used for the FY2015 allocations Institutions are given 10 days to review draft allocation numbers before they become final – a chance to confirm the data used for the calculations correctly reflect the numbers submitted to the CB 11
FADB Required field for the 9-month EFC Edits regarding the matching of SSN’s to the CBM001 were changed from errors to warnings – except for students identified as affidavit students which must be matched before certification EOY FY15 – TEG 9-month EFC field will be added 12
Lyn Wheeler Kinyon (512) or (800) x6393 GSP Generic GSP Information Site GSP Distribution List 13