2 federal policy update 3 budget - fiscal year 2003 discretionary budget –across-the-board 0.65%...
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Federal Policy Update
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Budget - Fiscal Year 2003
Discretionary Budget– Across-the-Board 0.65% Reduction– Pell Grant Maximum - $4,050– FSEOG – 5% increase – FWS, Perkins, LEAP and Child Care Loan
Forgiveness – “Level Funded” Student Loans – No Policy Changes
Report on Two Pell Grants in One Academic Year
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Pell Payment Schedule(DCL P-03-01)
H. Res. 2, the Consolidated Appropriations Resolution, 2003
Maximum Award of $4,050
Expanded Reach of the “Tuition Sensitivity” Rule
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Budget - Fiscal Year 2004
Discretionary Budget– Pell Grants - $1.9 Billion Increase to Address
Prior Year “Underfunding”– FSEOG and FWS – “Level Funded”– Perkins, LEAP and Child Care Loan
Forgiveness – Not Funded
Student Loans – Expand Teacher Loan Forgiveness
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FAFSA - IRS Data Match Reflected in President’s Management
Agenda 1998 HEA Amendments Inadequate Administration Forwarded to Congress
Amended Internal Revenue Code Proposal Would Not Allow Release of
Tax Return Data to Schools Ongoing Internal ED Discussions on
Implementation
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November 1, 2002
Final Rule - Loans
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School Related Issues
All Programs – Loan Counseling Perkins:– Optional Assessment of Late Charges–Write-offs– Litigation– Provided Copies of Notes to Borrowers
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Borrower Issues
All Programs:– Rehabilitation of Defaulted Loans
FFEL and Direct Loans:– Unemployment Deferments– Economic Hardship Deferments– Forbearances– Discharged Consolidation Loans
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November 1, 2002
Final Rule - Programs
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Program Issues
One-Day Rule Replaces 12-Hour Rule Non-Term Programs - Revised Definition
of Payment Period Incentive Compensation Safe Harbors De Minimus Overpayment Amount Return of Title IV Aid:– Required to Take Attendance– Leave of Absence
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Program Issues(Continued)
Late Disbursements Eliminate ATB Test Expiration Packaging Flexibility in GEAR-UP FWS Employment at For-Profit
Schools Timely Payment of Refunds
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Policy Guidance
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Home Schooled Students(DCL GEN-02-11)
Student Eligible If Completed a Secondary Home School Program
Institution Eligible If Only Admit Those Beyond the Age of Compulsory Attendance
Conflict: Younger Home Schooled Student Is Aid Eligible BUT School Could Lose Its Program Eligibility
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Home Schooled StudentsModified Interpretation
Student Is NOT Subject to the “Age of Compulsory Attendance” Provision if the State Where the Institution Is Located Would Not Consider the Student In Violation of Truancy Laws
No Impact On Institution’s Admissions Policy
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PLUS Master Prom Note
FFEL and Direct Loans Phase-in for 2003-04 See DCL GEN-03-03 All Schools Will Be Eligible for the
Multi-Year Functionality of Both Student and PLUS MPNs (See DCL GEN-02-10)
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Fellowships and Assistantships
Income or Resource/EFA? 2 Tests:1) Is the Award Employment?
• No – Resource/EFA• Yes – Go to Second Test
2) Is the Award Need-Based?• No – Not a Resource/EFA • Yes – Must Be Considered a Resource/EFA
“Employment” If the Institution Considers the Payment Employment Based on State and Federal Rules
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Electronics Can Schools and Others Conduct Title IV
Business Electronically Under Current Regulations?
Yes
Except If a Regulatory Requirement Specifically States That a Notification, Certification, Authorization, or Signature Must Be In a Paper Format
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Electronics
Must Ensure That Processes Comply With All Laws, Including E-SIGN, With Respect To– Consent– Disclosure– Testing
Consult Legal Counsel
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Electronics
Expect Guidance On the Use of Electronics In Title IV Program Administration, Including– Using “Shared Secrets” (e.g. PINs)– Sending Electronic Notices– Obtaining Electronic Authorizations– Using Electronics In Verification
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Reauthorization
Access and Success Affordability Accountability and Quality Supporting No Child Left Behind
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Comments, Questions, Feedback, and Contact Information
Jeff AndradePhone: (202) 502-7950Email: [email protected]
Dan Madzelan
Phone: (202) 502-7816
Email: [email protected]
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