1 / 21

Pell LEU October 9, 2014

Pell LEU October 9, 2014. Introduction. Rice University 6,628 undergraduate, graduate, and professional students Awarded 645 Federal Pell Grants, 2013-2014 Approx. $2.8 million in Pell awards Software System: Banner. Glossary of terms. LEU Lifetime Eligibility Used

norman-bradford
Télécharger la présentation

Pell LEU October 9, 2014

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Pell LEUOctober 9, 2014

  2. Introduction Rice University 6,628 undergraduate, graduate, and professional students Awarded 645 Federal Pell Grants, 2013-2014 Approx. $2.8 million in Pell awards Software System: Banner

  3. Glossary of terms LEU Lifetime Eligibility Used DOE Department of Education ISIR Institutional Student Aid Record SAR Student Aid Report COD Common Origination and Disbursement Scheduled The maximum amount of Federal Pell AwardGrant funding a student can receive for an award year. Award year Period from July 1 of one calendar year to June 30 of the next calendar year.

  4. Pell Lifetime Limit The Consolidated Appropriations Act, P.L. 112-74 was enacted on December 23, 2011. Beginning for 2012-2013 no student can receive more than 600% (12 full time semesters) and students are not grandfathered in. Effective for 2013-2014, the ISIR record contains the percentage of LEU for the student. A message will appear on the SAR through a Comment Code. It will be a range of what they have used.

  5. Comment Codes ISIR contains comment code regarding Pell LEU Comment codes found on RNIMSxx 346 and 347 create SAR C Codes. 346 student is close to lifetime eligibility (over 500%) 347 student has reached lifetime eligibility (600%) or is over Other comment codes related to PELL LEU exist for students who are under 500% and are displayed on SAR for student. No action is needed by the school since student has full eligibility left for the year. C Flag is set on RNARSxx This is what prevents packaging or disbursement. Students with 346 will have PLEUC and students with 347 will have PLEUO on RRAAREQ. (tracking screen)

  6. How Pell LEU is Calculated Example 1: If the scheduled award for an award year is $5,000, and the student enrolled for only one semester; then, the student receives only $2,500. This is equivalent to 50 percent of the scheduled award for the award year. Percent used: To determine how much of the 600 percent of Pell Grant has been used each year DOE compares the actual amount received for the award year with the scheduled award amount for that award year. DOE keeps track of a student’s LEU by adding together the percentages of eligibility used for each award year.

  7. Scheduled Awards Students with an LEU percentage of more than 500% are not eligible for a full award in 2014-2015. If the Pell LEU is more than 500 percent, then the financial aid office will need to: Calculate the first disbursement at the maximum amount allowed. The second disbursement cannot exceed the remaining eligibility.

  8. How Pell LEU is Calculated Example 2: Student is full-time in a semester program and has 0 EFC and a $5,730 scheduled award Calculate student’s Pell eligibility by subtracting the Pell LEU from the Pell LEU Report from 600.000% Report says 534.255% 600.000% - 534.255% = 65.745% 65.745% x $5,730 = $3,767.1885 ($3,767.18) First semester award = $2,865.00 Second semester award = $902.18 or $902.00 (do not round up)

  9. Pell LEU Processing The ISIR comment code and C-flag cause RRAAREQ to populate with the LEU requirement.

  10. Pell LEU Processing

  11. Pell LEU Processing RNASLXX- This student has received 525.009% in lifetime Pell eligibility. Therefore, the system will only award 74.991% in Pell for 2014 – 2015.

  12. COD Full Pell EU History RNASLxxlists the Pell LEU and should match COD.

  13. Pell LEU Processing • Update RHACOMM with Pell LEU using comment code LEU. • List eligibility used and • List remaining eligibility • If less than 100%, calculate maximum award and include in comment.

  14. Pell LEU Processing After origination, the imported file, crpgXXop.XXX will have a code 177 or 178 if Pell LEU is near or over the limit. As before, update RHACOMM with Pell LEU using comment code LEU. Check for correct Pell calculation.

  15. Where can students see their LEU %? Students may log onto the National Student Loan Data System to view their Pell lifetime eligibility used. It will be found on the Financial Aid Review page. http://www.nslds.ed.gov

  16. Q & A

  17. Are students who reached Pell LEU in 2014-2015 eligible for FSEOG? Students that reach Pell LEU may receive FSEOG in the following circumstances. (FSA HB, p. 3-130) A student who receives a Pell Grant at any time in the award year may be awarded an FSEOG for that award year; the student does not have to receive a Pell Grant in the same payment period as the FSEOG. If you have remaining FSEOG funds after making awards to all Pell Grant recipients for that award year, you must next select students with the lowest EFCs who are not receiving Pell Grants. This group of students is known as the FSEOG second selection group. This group also includes students who have reached their LEU.

  18. Are Students who Exceeded Pell LEU in 2012-13 still eligible for loans? Are Students who exceededPell LEU still eligible for loans? Scenario: A student enrolls at our school and the ISIR indicates his Federal Pell Grant LEU is greater than 600% (received C-Code 347). We determine by checking COD that the overpayment occurred at another school in the 2012-2013 award year. Answer: Student is no longer eligible. Under 34 CFR 668.32(g) of the student eligibility regulations, any student who owes an overpayment on any Title IV grant or loan funds is not eligible for additional Title IV grant or loan funds until the overpayment has been resolved or repaid in full. In this scenario, the student will most likely need to resolve the overpayment directly with the other school in order to receive Title IV aid at our school.

  19. Pell reports from COD, how do you use them? We use our own reports for packaging, and Use the crpgXXop.XXX results to follow up findings. How do you notify students? We notify them through the Portal when they get 346 or 347. The message stays in the portal. Message: The Department of Education limits the total amount of Federal Pell Grants a student may receive to the equivalent of 6 school years (12 full time semester awards). Based on information reported to the National Student Loan Data System (www.nslds.ed.gov) by the school(s) you have attended, your total Pell Grant awards are close to or exceed this limit. This information may be verified at www.nslds.ed.gov. Please contact fina@rice.edu if you have questions.

  20. Challenges Fall Pell payments create new LEU information. CRPG files includes COD codes on those originations near or over the limit. We work them all. COD and NSLDS figures may differ COD is the information we must use. C flag causes Pell to back out. We need to work quickly to avoid sending another origination prior to the correction. There are timing issues for students that attend summer school at another school.

  21. Sources 2013 FSA Training Conference Session 3 http://fsaconferences.ed.gov/2013sessions.html 2014-2015 FSA Handbook Volume 3, Chapter 3 Volume 3, Chapter 6 Dear Colleague Letters 2012-09-04 - (GEN-12-18) 2013-05-16 - (GEN-13-14)

More Related