lyn wheeler kinyon assistant director, grants and special programs texas higher education...
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State Updatefor Private Institutions
Lyn Wheeler KinyonAssistant Director, Grants and Special ProgramsTexas Higher Education Coordinating [email protected]
TASFAA ConferenceOctober 9, 2014
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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
State Update Topics
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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
TEG Program Update
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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 ([email protected] or 512.427.6483) if you need assistance
TEG Program Update
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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
TEG Program Update
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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
TCWS Program Update
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Effective beginning 2014-15: 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%
CAL Program Updates
Prior to 2014-15 Beginning 2014-15
Credit Score VantageScore ≥ 700 VantageScore ≥ 591Origination
FeeBorrower OR Cosigner
Approved – 5%___________________________________________________________________________
Borrower AND Cosigner Approved – 3%
Borrower OR CosignerScore Tier Rate
≥ 711651-710591-650
≤ 590
ABC
N/A
0%3%5%
Denied
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Effective beginning 2014-15: Institutions will have until February 20th, 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
BOT Program Updates
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Any unencumbered FY14 funds have been carried forward and added to the FY15 allocations
Updated allocations are posted to www.HHLoans.com under the institution’s link
LPO questions should be directed to:• [email protected] or 512.427.6352 • [email protected] or 512.427.6585
BOT Program Updates
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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 ([email protected] or 512.427.6483)
CBID Update
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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
NRM and Allocations
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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
FADB and EOY Updates
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Questions?
Lyn Wheeler [email protected]
(512) 427-6393 or (800) 242-3062 x6393
GSP Generic [email protected]
GSP Information Sitehttps://www1.thecb.state.tx.us/apps/SpecialPrograms/
GSP Distribution Listhttp://lists.state.tx.us/mailman/listinfo/txgnsp-l