college opportunity fund (cof) overview

College Opportunity Fund (COF) Overview

Pat Burns, CSUCHECO Meeting

September 29, 2004

Sep. 29, 2004 COF Summary at CHECO 2

Purpose and General Details As stated in the Act:

Increase access to higher education through direct provision to students of a stipend

Not a “voucher!” Greater accountability of higher ed

institutions through Performance contracts for fee for service

activities


General Details Advertisement of the COF program is to

begin in 8th grade To be implemented for Fall 2005

semester Many areas and issues still not well

defined


Elements of the COF Stipends

Flat per credit hour $80/credit hour proposed for FY 06 Independent of institutional mission

Now, 2 “streams” for tuition “Total in-state tuition” Stream #1 - “Student’s share of in-state tuition,”

capped Stream #2 - “Stipend,” not capped – receipt must show

this and attribute it to the COF program If the “stipend” is reduced in any fiscal year,

institutions are prohibited from increasing the “student’s share” to make up the difference


Performance Contracts Fee for service

All services other than eligible courses Performance contracts

For fee for service areas Significant legal issues exist Required to become an enterprise, in addition to <

10% of total funding from the state Must allocate 20% of increases in tuition above inflation

for need-based assistance CCHE is planning to issue this fall an RFP for

performance contracts for private institutions


College Access Network (CAN) Administer the program Implement the trust fund Institutions that do not use CAN for

student loans will be charged A one-time implementation fee On-going fees Set by CAN, not to exceed actual

costs


Who’s Involved Rick O’Donnell, CCHE – consulting with

the CEO’s Performance contracts SURDS, even for private institutions

COF Technical Advisory Committee (TAC) Conduit for information flow only Items referred to CAO’s, CFO’s, CIO’s and DAG,

and brought back to COF TAC for discussion Then forwarded to O’Donnell and CEO’s

CAN, Jeanne Adkins Administer the program and the COF trust fund


COF TAC Formed by CCHE to advise on policy and

issue resolution for all areas of SB04-189. Four institutional reps. Routes issues to various groups for

recommendations; little or no communication from the group; no formal notes.

TAC isn’t a decision-making body per se but still makes decisions related to issue identification and resolution by other groups.

Meets weekly via phone conference.


COF TAC Members Jenna Allen, CCHE

- COO Jeanne Adkins,

CAN Pat Burns, CSU –

CIO Rep. Bill Kuepper,

CCHE - CAO’s

Rich Schweigert, CCHE - CFO’s

Fran Schoneck, UNC, CFO Rep.

Dr. John Sowell, WSC, CAO Rep.

Kimberley Thompson, CCD, DAG Rep.


Stipends Public institutions Private institutions: CC, DU and Regis @ 50% Constant per credit hour for eligible courses A student must

Apply to the COF program Each semester, authorize the use of the stipend (all

or nothing at each institution) 145 credit limit, except 30 credits will be

added (175) if 145 used and a Batchelor’s degree has been obtained

Waivers – more on this later


The Players and Their Parts Legislature, funding of

Stipends Fee for service Scholarships

CCHE Recommend funding to

the Legislature Performance contracts

College Access Network (CAN)

Receive and disburse funding for stipends

Accounting of credits and $

Students Apply to the COF Authorize the use of the

COF stipend each semester, at each institution

Institutions Directed to require

eligible students to apply Verify student eligibility Identify COF-eligible

courses Implement in an

auditable fashion – more later


Application to the COF Program Students will apply to CAN with

Name DOB SSN (login name on the CAN web site!!!) Email address (for password)

CAN will keep track of eligible credits Issue: how will the database be initially

“seeded” for current students? Probably from SURDS.


The CAN Database Student identity

Name, DOB, SSN, email address Time history

Eligible credits available Eligible credits used $$$ disbursed and to which institutions Waivers

Individually web accessible By students, to apply and view their stipend balance By institutional staff, for support


CAN Processing Batch transactions

Query files – frequently, as needed Invoice file – once per term Disbursement file – once per term Reconciliation file – once per term


Eligible Students Colorado residents Pell-grant eligible, if from a private

institution At ½ the stipend rate


Eligible Courses Resident instruction courses Not eligible

Graduate courses Basic skills courses AP, IAB, courses Courses taken pursuant to the “postsecondary enrollment

options act” High-school fast-track courses

Census “Snapshot” taken at census to determine eligible courses Thereafter

Ratcheting up only No refunds of COF credits or COF $$$


CAN Web Site A web link to which we hand students off A web transaction proposed but rebuffed

Button “Apply to the COF Program” We mimic the COF application page at CAN We fill out the 4 data elements and transfer

to CAN CAN performs the data check and returns a

code We notify the student of the result CAN is opposed to this, during this first year


Waivers CCHE waivers for:

Extenuating circumstances of health or physical ability Approved program requires more than 120 credit hours Degree requirements change during the student’s tenure “Substantial economic hardship” on student and family

Institutional waivers 5% of students Priority is job retraining Legislation indicates a 1-year term

Current thinking is by term Process still under much discussion, especially the

ordering About 7-8% of current students in SURDS exceed 145

credits


Funding CCHE desires to fund stipends fully, at

the expense (literally) of other programs Fee for service? Merit-based scholarships? Maybe even need-based scholarships?

Also, projected > $240 million deficit in the state’s budget for FY 06 Higher ed budget is the only significant one

left with this level of flexibility Tobacco securitization still being explored


Advertising CCHS\E has hired a marketing person to

develop some advertising materials for this activity So we are portraying the situation uniformly Have seen nothing from them yet, except a

mandate to use the terms defined in the legislation


Implementation As financial aid How is still being debated

An award, or A resource


Modifications to our Systems Tuition policy SIS, including

Student data Financial aid Accounts receivable

Waiver process


SIS Issues 2 streams of tuition Eligible students

Application to COF – status Eligible course sections (RI vs. non-RI) COF stipend usage history, by term

Affirmative authorization Courses and $$$ Remaining eligibility

Batch transaction files


Significant Issues Cash flow – disbursements in September

(August the 1st year) Exceeding 145 credits at multiple institutions

Which institutions get paid which amounts? Funding

If stipends funded fully, may reduce funding of other areas

No process defined in the case of the trust fund being exhausted, probably not FIFO

Performance contracts Lots of legal issues being explored

Much work left to do in very little time


Questions Are most welcome.

college opportunity fund (cof) overview

Documents

differencecof summary

definedcof summary

latercof summary

cof trust fundcof summary

service activitiescof

actual costscof summary

cof programif

credit hour