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CAAHE - Financial Aid in Changing Times

Apollo Federal Relations. CAAHE - Financial Aid in Changing Times. Bob Collins, VP Student Financial Aid Indianapolis, IN June 11, 2010. Higher Education Policy. Authorizing vs. Appropriating language Master Calendar concept Final Rules by November 1 effective July 1

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CAAHE - Financial Aid in Changing Times

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  1. Apollo Federal Relations CAAHE - Financial Aid in Changing Times Bob Collins, VP Student Financial Aid Indianapolis, IN June 11, 2010

  2. Higher Education Policy • Authorizing vs. Appropriating language • Master Calendar concept • Final Rules by November 1 effective July 1 • Regional Hearings • Negotiated Rulemaking • Notice of Proposed Rulemaking comments • Federal Register published

  3. Title IV Student Assistance • HEOA increased Pell Authorization Level • $6,000 in 2009-2010 • $8,000 in 2014-2015 • 18-semester limit on Pell Grants • Health Care-Education Reconciliation Act • FFELP eliminated • Direct Loans exclusive - July 2010 • Pell funding $5,550 in 2010-2011-2012-2013

  4. Reporting and Disclosures • HEOA adds 110 reporting and record-keeping requirements, including: • Transfer of credit policy • Distance learner authentication • Campus security and student safety • Textbook information • College tuition reporting (Net Price Calc) • College Navigator website • http://nces.ed.gov/collegenavigator

  5. Cohort Default Rate • Changes from a two-year to a three-year window beginning with FY2009 • Increases minimum 3 consecutive year threshold for participating in Title IV programs from 25% to 30% for FY2012 • Changes threshold rate from 10% to 15% for delayed delivery and single-term multiple disbursements beginning 10/1/11

  6. FY2009 CDR using Current Calculation Borrowers entering repayment between 10/1/08 and 9/30/09 and who default on or before 9/30/10 Borrowers entering repayment between 10/1/08 and 9/30/09 FY2009 CDR using Revised Calculation Borrowers entering repayment between 10/1/08 and 9/30/09 and who default on or before 9/30/11 Borrowers entering repayment between 10/1/08 and 9/30/09 Cohort Default Rate Calculation

  7. On the Regulatory Horizon • Negotiated Rulemaking • Foreign School Issues (medical schools focus) • Program Integrity Issues • Definition of a high school diploma • Ability to Benefit (ATB) • Misrepresentation of information provided to students and prospective students • Incentive compensation • State authorization as a component of institutional eligibility

  8. On the Regulatory Horizon • Program Integrity Issues (cont’d) • Gainful employment in a recognized occupation • Definition of a credit hour for purposes of determining program eligibility status • Agreements between institutions • Verification of information included on student aid applications • Satisfactory Academic Progress • Retaking coursework • R2T4 (two issues) • Disbursement timelines and method

  9. Regulation Timeline • NPRM to be published in coming days • Preamble language provides context • Public comment period 30-60 days • Public record • ED analysis of comments 60-90 days • All comments reviewed and addressed • Final regulation on or before November 1 • Preamble language discusses changes • Final regulations effective July 1, 2011

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