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2013 NASFAA National Profile Briefing

National Profile Briefing

charlotte etier

on 27 June 2013

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Transcript of 2013 NASFAA National Profile Briefing

Federal Student
Financial Aid

Presentation Overview
Higher Education Today
Dawn Mosisa
Federal Supplemental Educational Opportunity Grant Program (FSEOG)
Policy Department
Justin Draeger, President
Megan McClean, Managing Director of Policy and Federal Relations
Joan Berkes, Senior Policy Analyst
Karen McCarthy, Policy Analyst
Jesse O’Connell, Policy Analyst
Gigi Jones, Director of Research
Charlotte Etier, Policy Intern
Annual appropriation is allocated among participating institutions
Awarded to undergraduate students with lowest EFCs who have not already earned a baccalaureate degree
Priority is given to Pell Grant recipients
Award must be made in order starting with lowest EFCs
Schools must contribute at least 25% of funding, with limited exceptions
Schools may transfer up to 25% of allocation to Federal Work-Study Program
Minimum award amount: $100
Maximum award amount: $,4000
Brief History of Federal Government's Role in Student Aid
Higher Education Today
FAFSA Filing and Awards
Federal Financial Aid Programs
86% of 4-year enrollments are undergraduates
57% of total students are women
42% of total students are 18-24 years old
62% of total students are full-time
National Profile Briefing
Campus-Based Programs
University Director of Title IV Compliance
The Johns Hopkins University
History of
Federal Government's Role in Student Aid
Morrill Act of 1862
FFEL (Federal Family Education Loan)
- Land Grants to fund state colleges
"G.I. Bill" - Servicemen's Readjustment Act of 1944
- Educating and retraining returning servicemen
- Higher Education Act (HEA) of 1965
History of
Federal Government's
Role in Student Aid
History of
Campus-based Aid
Federal Perkins Loan Program
- Sputnik, 1957
Federal Work-Study Program (FWS)
- National Defense Education Act of 1958
- Economic Opportunity Act of 1964
FSEOG Program
- Federal Supplemental Educational Opportunity Grant
- Higher Education Act (HEA) of 1965
created precursor program (Educational Opportunity Grant - EOG)
- HEA Amendments of 1972 replaced
History of FFEL and DL
PLUS (Parent Loans for Undergraduate Students)
- Higher Education Amendments of 1980
DL (Direct Loan)
- Higher Education Amendments of 1992
History of Pell Grant Program
Higher Education Amendments of 1972
- Basic Educational Opportunity Grant
Program (BEOG) or Basic Grant
- Renamed after Senator Claiborne Pell
Senator Claiborne Pell
Total Distribution of U.S. Institutions, 2010-11
Higher Education Total Enrollment, Fall 2011
Quick Stats:
Federal Student Aid Today:
A National Profile
31.4 million FAFSA applications 2011-12
71% of total amount of federal student aid was Title IV Federal dollars
140% increase over 10 years of total amount of Title IV federal student aid
- $72.3 billion, 2001-02
- $173.8 billion 2011-12
Federal Pell
"Foundation" of aid package
Awarded to undergraduate students with lowest EFCs who have not already earned a baccalaureate degree
Unaffected by student's other aid
For 2013-14:
- Maximum award is $5,645
- Minimum award is $582
- Eligible EFC range: 0 to
- Statutory formula
- Institutions must apply by Oct 1 (FISAP)
School awards funds to eligible students based on program requirements
School may draw cost allowance to offset costs of administering campus-based and Pell programs
Schools must award FWS employment "to the maximum extent practicable, that will complement and reinforce each recipient's educational program or career goals"
Earnings must be monitored to avoid exceeding award
Student may be paid up to $300 over need
Campus-based program
School generally must match allocation with its own funds, 75% federal, 25% school
FWS employers may be:
Federal Work-Study Program (FWS)
- Institutional share varies by nature of
job or employer
- Some schools exempt from matching
Match can also be "in-kind"
- This is basis for campus-based over-award
tolerance when student gets unanticipated additional aid
Additional flexibility:
- Carry forward (10% limit)
- Carry back (10% limit unless for summer)
- Transfer to FSEOG and/or Perkins (25% limit)
The school itself
- Limitations if the school is for-profit
A Federal, State, or local public agency
A private nonprofit organization
A private for-profit organization
- Limitations
Federal Perkins Loan Program
Loan limits are listed on NASFAA's Student Aid Reference Sheet
Interest rate: 5%
Interest begins to accrue when repayment begins
Loan discharged if borrower dies, becomes permanently or totally disabled, or manages to pass bankruptcy requirements
Loan canceled for certain types of employment, volunteer activities, or military service
Undergraduate, graduate, professional students
Priority must be given to exceptionally needy students
School defines "exceptionally needy"
Willingness to repay
Campus-based program
Revolving Fund
No interest accrues during deferment or 6-month post-deferment grace period
Provides low-interest loans to financially needy students attending institutions of higher education to help them pay their educational costs.

- Federal Capital Contribution (FCC)
- Institutional Capital Contribution (ICC):
1/3 of FCC
- Collections on previously made loans
- Reimbursements for loan cancellations
Up to 25% of allocations (FCC) may be transferred to FSEOG and/or FWS
- 9 months after borrower is no
longer enrolled at least half-time
Repayment period: 10 years
- In school and certain fellowships or rehab
- While in service eligible for loan cancellation
- While seeking but unable to find employment
- Economic hardship (including Peace Corps)
- Certain military service
Direct Loans
William D. Ford Federal Direct Loan Program
Umbrella for four loan programs:
Federal Direct Stafford/Ford Loan Program
Federal Direct Unsubsidized Stafford/Ford Loan Program
Federal Direct PLUS Program
Federal Direct Consolidation Loan Program
Direct Loans
Direct Subsidized Loans
Direct Unsubsidized Loans
Direct Stafford Loans
Stafford Loans
Subsidized Stafford Loans
Unsubsidized Stafford Loans
Direct Subsidized Loans
Undergraduate Students
Direct PLUS Loans
Graduate, professional students
Parents of dependent undergraduate students
Direct Unsubsidized Loans
Undergraduate, graduate, professional students
- Prior to July 1, 2012, graduate/professional students
- COA minus EFC minus other aid, up to applicable limit
Interest accrues but is paid by the federal government during periods of study or deferment
- COA minus other aid, up to applicable limit
Interest accrues and is payable by borrower, but may be capitalized during periods of study or deferment
- COA minus other aid, no limit
Interest accrues and is payable, but may be capitalized during periods of study or deferment.
Direct Loan Summary
Loan limits: See the Student Aid Reference Sheet
Direct Loan Repayment Plans
Income-Based (except parent PLUS)
Income-Contingent (except parent PLUS)
Repayment Features
Need Analysis
Definition of Need:
COA and EFC defined in Part F of the HEA, Title IV
Professional Judgment
ED may not regulate
Cost of Attendance (COA)
Expected Family Contribution
Eligibility for non-need-based programs
(Direct Unsubsidized and PLUS loans)
does not consider EFC
Tuition and fees
Books and supplies
Room and board
Transportation, miscellaneous personal expenses, personal computer
Dependent care costs
Costs related to disability
Loan fees
Calculated as a dollar amount
Often viewed more as a rationing device
with dependents
other than a spouse
with no dependents
other than a spouse
Married, no children or other dependents
(full data element)
(excludes assets)
One EFC short cut: Automatic Zero EFC (Auto Zero)
Two EFC formulas
Parental AGI (or earnings for non-filer) under $50,000
Parents were not required to file 1040 long form, or family member received means-tested Federal benefit, or parent is a dislocated worker
For independent student, apply tests to student and, if married, spouse
Applicable to dependent model and independent with dependents model
AGI of parents (or independent student and spouse) was no greater than $24,000 (for 2013-14)
Same tax filing criteria as for simplified
Need Analysis Continued
Independent students with dependents
Independent students with no dependents
Free Application for Federal Student Aid (FAFSA)
FAFSA Filing Process
Free Application for Federal Student Aid (FAFSA) is central element of federal student aid application process
FAFSA data are used to:
- Compute the expected family contribution (EFC)
- Confirm certain student eligibility criteria via
database matches with federal agencies
There are multiple ways
of filing the FAFSA:
FAFSA on the Web (FOTW)
Financial Aid Administrator (FAA) Access to Central Processing System (CPS) Online
The paper FAFSA
FAFSA on the Phone
Internal Revenue Service Data Retrieval Tool
Process enables students and parents to transfer tax return information from IRS website direction to FOTW application
IRS Data Retrieval Tool also available for corrections
Available February 2013 for 2013-14 processing cycle
output sent to:
State Agency
Student Aid Report
Institutional Student Information Record
Institutional Student Information Record
CPS database
CPS sends info to student, school, and state
School Packages Student
Federal Aid Available for Packaging:
Pell Grant
Perkins Loans
Direct Loans
Need Analysis
Budget and Appropriations
Resources and Q & A
- 2013 National Profile
Robert T. Stafford
William D. Ford
1 Grace period: period after borrower graduates, leaves, or falls below half-time status
2 Grace Period Interest Subsidy is temporarily eliminated on Direct Subsidized Loans during the six month grace period. This change is effective for new Direct Stafford Loans for which the first disbursement is made on or after July 1, 2012, and before July 1, 2014.
Expected Family Contribution (EFC)
Cost of Attendance (COA)
Parent's Contribution
Student's Contribution
Dependent Student's EFC
Budget and Appropriations Update
Professional Practice Tools
Self-Evaluation Guide
Policies and Procedures Tools
How to Guides
Compiled Title IV Legislation
Compiled Title IV Regulations
Standards of Excellence Review Program
Training and Development
NASFAA University
Conference on your Campus
National Conference
You're the Director - A Guide to Leadership in Financial Aid
Journal of Student Financial Aid
Today's News
The Art and Science of Student Aid Administration in the 21st Century
Resources and Q&A
2013 National Profile of Programs in Title IV of the Higher Education Act
For students, parents, and counselors information can found on the NASFAA website
Contact Information
Justin Draeger: draegerj@nasfaa.org
Megan McClean: mccleanm@nasfaa.org
Joan Berkes: berkesj@nasfaa.org
Karen McCarthy: mccarthyk@nasfaa.org
Jesse O'Connell: oconnellj@nasfaa.org
Gigi Jones: jonesg@nasfaa.org
Charlotte Etier: etierc@nasfaa.org
Data from 2010-11
Data from 2010-11
Data from 2010-11
Data from 2010-11
Data from 2011-12
The mission of The Johns Hopkins University is:
- To educate its students and cultivate their capacity for life-long
- To foster independent and original research, and
- To bring the benefits of discovery to the world.
Nine Academic Divisions
The Peabody Institute
The Krieger School of Arts and Sciences
The Johns Hopkins School of Nursing
The Johns Hopkins School of Medicine
The Johns Hopkins School of Education
The Carey Business School
The Whiting School of Engineering
The Bloomberg School of Public Health
The Paul H. Nitze School of Advanced
International Studies
** The Applied Physics Lab - 1942
Maximum Pell Grant for award year 2013-14: $5,645
Impact of sequestration for upcoming award year:
Direct Loans
How will sequestration impact future award years?
NASFAA Statement of Ethical Principles
Please see handout
NASFAA Mission Statement: The National Association of Student Financial Aid Administrators supports the training, diversity, and professional development of financial aid administrators; advocates for public policies and programs that increase student access to and success in postsecondary education; and serves as a forum for communication and collaboration on student financial aid issues.
A non-profit research university – since 1876
Over 30 locations worldwide
Students from 120 countries
1857 / 1985
1909 / 2007

1 Subsidized loans are no longer available to graduate students
1 Subsidized loans are no longer available to graduate students
1 Subsidized loans are no longer available to graduate students
1 Subsidized loans are no longer available to graduate students
1 Subsidized loans are no longer available to graduate students
Full transcript