1. 101 Dalmatians Consumer Disclosures 10.13.2014 Presented by Betsy Mayotte Melbourne, Victoria, Australia

2. 2 Background Higher Education Opportunity Act of 2008 (HEOA) Consumer Finance Protection Bureau Upcoming Reauthorization

3. 3 Required Notices

4. 4 Annual Notice to Enrolled Students Annually distributed to each student listing and explaining how to obtain info on:  Financial aid available to students at that school  Schools grad/completion rate Transfer out rate if required  Terms and conditions for Direct Loans  Annual fire safety report Those with on-campus housing only  Retention rate as reported to ED  Types of grad/professional programs enrolled in by schools 4-year undergraduate completers

5. 5 Annual Notice to Enrolled Students con.. Distributed to each student listing:  In separate, clear, notice, the penalties for drug related offenses as they relate to Title IV  Timely notice to students who have lost eligibility due to drug related offenses and explanation as to how to regain  Drug and Alcohol abuse materials (must go to each student and employee)

6. 6 Financial Aid Information Must publish and make available: Description of all available financial aid programs  Eligibility/criteria for selection and award determination  Procedures/forms needed  Terms and conditions of Direct Loans For awarded financial aid  Method and frequency of disbursements  Sample loan repayment schedule  Importance of loan repayment Student Aid Recipients  Satisfactory academic progress policy  Criteria for continued eligibility  Exit counseling information

7. 7 School Information Must make available upon request to enrolled and prospective students:  Completion and graduation rate  Retention rate  Placement rate by graduates  Types of employment

8. 8 Textbook Information Institutions must, as much as practicable, include on its Internet course schedule for required and recommended textbooks and supplemental material:  the International Standard Book Number (ISBN) and retail price; – if the ISBN is not available, the author, title, publisher, and copyright date; or TBD  If applicable, the institution must include on its written course schedule a reference to internet textbook info listed above Must provide the following information to its college bookstores upon request:  the institution’s course schedule for the subsequent academic period; and  ISBN or alternative as required above  the number of students enrolled, and  the maximum student enrollment.

9. 9 Textbook Information Also encouraged, but not required, to provide info on  renting or purchasing used textbooks;  textbook buy-back programs; and  alternative content delivery programs.

10. 10 Peer to Peer File Sharing Schools must disclose to students:  Clear statement that unauthorized distribution of copyrighted material may subject student to civil and criminal liabilities  Description of the institution’s policies on unauthorized peer-to-peer file sharing, including disciplinary actions  Summary of penalties for violation of country’s federal copyright laws

11. 11 Preferred Lender Arrangements Covered schools or school affiliated organizations must disclose on it’s website and all informational materials: Maximum amount of aid under Title IV Truth in Lending disclosures Reasons schools chose lenders on list That student may choose any lender, even if not on list Information that terms and conditions of federal loans may be better than private loans Code of Conduct for education loans

12. 12 Annual Security/Fire Safety Report Must be distributed to enrolled and current employees Must contain  Crime statistics  Security policies and procedures  Fire safety report for those with on-campus housing Prospective students/employees must also be given opportunity to receive report(s)

13. 13 Methods and Best Practices

14. 14 Policies First… Now Procedures

15. 15 Reasonably Accessible Requirements:  No more than 2 clicks, if electronic  No less than 8 point font  Easily accessible  In a prominent location  Updated yearly at minimum  Designated person must be assigned and be available during normal business hours to all enrolled and prospective students

16. 16 Who does what on campus Best practices: Have one office designated to ensure all disclosures are in compliance. Keep it Simple Document all required disclosures and ensure all are covered Review it once a year

17. 17 Ways To Communicate Disclosures Emails Mass and to specific groups Alerts Websites Social Media Brochures

18. 18 Ways to communicate: Website

19. 19 Ways to communicate: Automatic Email

20. 20 Resources Effective award letters http://www.nasfaa.org/advocacy/award- letter/Improving_Award_Letters_and_Consumer _Information.aspx Task Force on Consumer Information http://www.nasfaa.org/consumerinfo.aspx Net Price Calculator http://nces.ed.gov/ipeds/netpricecalculator/

21. 21 Resources Textbook Disclosures: -GEN-10-09 http://ifap.ed.gov/dpcletters/GEN1009FinalTextbookGuidance.html – GAO report (released June 6, 2013) http://www.gao.gov/products/GAO-13-368 FSA Assessments on Consumer Info http://ifap.ed.gov/qahome/qaassessments/consumerinformat ion.html

22. 22 Resources Comprehensive Consumer Disclosure Resource and Tips  http://counsel.cua.edu/res/docs/npec-heoa-disclosures- revised-11-29-09.pdf http://counsel.cua.edu/res/docs/npec-heoa-disclosures- revised-11-29-09.pdf Model FERPA Disclosure http://www2.ed.gov/policy/gen/guid/fpco/ferpa/safesch ools/modelform2.htmlhttp://www2.ed.gov/policy/gen/guid/fpco/ferpa/safesch ools/modelform2.html SFA Requirements  Chapter 6, Volume 2 of SFA Handbook

23. 23 Thank you SALT: A Responsible Borrower Program CONTACT SALT 800.999.9080 bmayotte@asa.org www.saltmoney.org