[Oasfaa] OASFAA Digest, Vol 113, Issue 9
Reba Morton
mortonr at bacone.edu
Fri Oct 18 09:51:28 CDT 2013
How to submit information to you to advertise a position needed in
financial aid
Thanks
On 10/16/2013 12:00 PM, oasfaa-request at lists.onenet.net wrote:
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> Today's Topics:
>
> 1. Good news for your Tuesday! (Jonna Raney)
> 2. October edition of Campus E-Clips Now Available!
> (Bourbeau, Sharon)
> 3. Re: Good news for your Tuesday! (myrna cross)
> 4. Pell at two institutions for the same payment period
> (Karen Jeffers)
>
>
> ----------------------------------------------------------------------
>
> Message: 1
> Date: Tue, 15 Oct 2013 15:03:35 -0400 (EDT)
> From: Jonna Raney <jonna.raney at okbu.edu>
> To: oasfaa at lists.onenet.net
> Subject: [Oasfaa] Good news for your Tuesday!
> Message-ID: <1082941354.9966078.1381863815731.JavaMail.root at okbu.edu>
> Content-Type: text/plain; charset="utf-8"
>
> In case you missed this on NASFAA news today , I thought I'd share so your day can be as "bright and happy" as mine! :) I mean if we didn't get to change Teach amounts every month (sometimes twice), I would completely run out of things to do! (The Teach change only affects those that have not disbursed their first disb before Oct 1 . Loan fee increases are for loans that disb first disb on or after Dec 1 .)
>
>
> TEACH Grants
> The sequester changes, beginning on October 1, 2013 , the percentage by which TEACH Grant awards must be reduced as compared to the sequester percentage reduction that became effective last spring. Specifically, TEACH Grant awards where the first disbursement is made on or after October 1, 2013 , must be reduced by 7.2 percent from the original statutory amounts. TEACH Grant awards, where the first disbursement was made after March 1, 2013 and prior to October 1, 2013 , continue to be covered under the FY 2013 sequester and must be reduced by 6.0 percent from the original statutory award amount regardless of when any subsequent disbursement of the award is made. The attachment to this letter includes a table that summarizes this information.
> Direct Loans
> As of October 1, 2013 , the sequester increases the origination fees charged to Direct Loan borrowers beyond last year's increases. However, taking into account all of the underlying circumstances, including operational requirements, the new loan fee percentages will apply only with regard to loans where the first disbursement is made on or after December 1, 2013 . The new loan fees are 1.072 percent for Direct Subsidized Loans and Direct Unsubsidized Loans and 4.288 percent for Direct PLUS Loans (both parent and graduate student PLUS Loans).
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> ------------------------------
>
> Message: 2
> Date: Tue, 15 Oct 2013 20:26:04 +0000
> From: "Bourbeau, Sharon" <sbourbeau at osrhe.edu>
> To: Undisclosed recipients: ;
> Subject: [Oasfaa] October edition of Campus E-Clips Now Available!
> Message-ID:
> <DD3B43F4C353DD448B176298B4B2036D0C3C0FC1 at Columbus.osrhe.edu>
> Content-Type: text/plain; charset="us-ascii"
>
>
>
> The October 2013 edition of Campus E-Clips newsletter is now available at http://www.okhighered.org/newsletter.
>
>
> October 2013 stories include:
>
> * Remembering ECU's Chris Lane
> * Connors President Accepted to Harvard Kennedy School Executive Education Program
> * UCO President Appoints Pope as Vice President for Student Affairs
> * OSU-Tulsa, OSU-CHS Receive Record Funding from OCAST
> * Newly Established Rural Health Network at SWOSU Going Strong
> * Oklahoma Sees Increase in ACT Scores, Moves Closer to National Average
> * And more... visit www.okhighered.org/newsletter<http://www.okhighered.org/newsletter>.
>
> To receive future e-mail notices of new issues of the Campus E-Clips online newsletter directly, subscribe to the Campus E-Clips listserve at http://lists.onenet.net/mailman/listinfo/campus-news/.
>
>
>
> Sharon Bourbeau
> Communications Coordinator II
> Oklahoma State Regents for Higher Education
> 655 Research Parkway, Suite 200
> Oklahoma City, OK 73104-3603
> 405.225.9182
>
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> ------------------------------
>
> Message: 3
> Date: Tue, 15 Oct 2013 16:49:29 -0500
> From: myrna cross <myrna.cross at wosc.edu>
> To: Jonna Raney <jonna.raney at okbu.edu>
> Cc: "oasfaa at lists.onenet.net" <oasfaa at lists.onenet.net>
> Subject: Re: [Oasfaa] Good news for your Tuesday!
> Message-ID:
> <CABnFhC19Q4jkw28EwvJHgr+hegw=MEhBY_h7eWuzNsgOu3b0Og at mail.gmail.com>
> Content-Type: text/plain; charset="iso-8859-1"
>
> Jonna,
> I did notice that last week and it just made my day!!!! :-) We need an
> IT dept just to support Fin. aid and dept of ed changes!!!!
>
>
> *Myrna Cross*
> *Director, Financial Aid*
> *Western Oklahoma State College*
> *2801 N. Main*
> *Altus, OK 73521*
> *580-477-7712*
> *580-477-7716 fax*
>
>
> On Tue, Oct 15, 2013 at 2:03 PM, Jonna Raney <jonna.raney at okbu.edu> wrote:
>
>> In case you missed this on NASFAA news today, I thought I'd share so your
>> day can be as "bright and happy" as mine! :) I mean if we didn't get to
>> change Teach amounts every month (sometimes twice), I would completely run
>> out of things to do! (The Teach change only affects those that have not
>> disbursed their first disb before Oct 1. Loan fee increases are for
>> loans that disb first disb on or after Dec 1.)
>>
>> *TEACH Grants*
>>
>> The sequester changes, beginning on October 1, 2013, the percentage by
>> which TEACH Grant awards must be reduced as compared to the sequester
>> percentage reduction that became effective last spring. Specifically, TEACH
>> Grant awards *where the first disbursement is made on or after October 1,
>> 2013*, must be reduced by 7.2 percent from the original statutory
>> amounts. TEACH Grant awards, *where the first disbursement was made after March
>> 1, 2013 and prior to October 1, 2013*, continue to be covered under the
>> FY 2013 sequester and must be reduced by 6.0 percent from the original
>> statutory award amount regardless of when any subsequent disbursement of
>> the award is made. The attachment to this letter includes a table that
>> summarizes this information.
>>
>> *Direct Loans *
>>
>> As of October 1, 2013, the sequester increases the origination fees
>> charged to Direct Loan borrowers beyond last year's increases. However,
>> taking into account all of the underlying circumstances, including
>> operational requirements, the new loan fee percentages will apply only with
>> regard to loans *where the first disbursement is made on or after December
>> 1, 2013. *The new loan fees are 1.072 percent for Direct Subsidized
>> Loans and Direct Unsubsidized Loans and 4.288 percent for Direct PLUS Loans
>> (both parent and graduate student PLUS Loans).
>>
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> ------------------------------
>
> Message: 4
> Date: Tue, 15 Oct 2013 22:59:46 +0000
> From: Karen Jeffers <karen.jeffers at tulsacc.edu>
> To: "oasfaa at lists.onenet.net" <oasfaa at lists.onenet.net>
> Subject: [Oasfaa] Pell at two institutions for the same payment period
> Message-ID:
> <18E463DB49781D418F00E49843D03E601E2235C9 at BY2PRD0411MB404.namprd04.prod.outlook.com>
>
> Content-Type: text/plain; charset="us-ascii"
>
> Looking for the collective wisdom of the group!
>
> We have a student who began our fall semester on August 19. During the transfer monitoring process we discovered that the student had been paid 50% of the scheduled pell award at another institution in mid-August; therefore, we cancelled all of the federal student aid we had awarded to the student. The other institution has now completed an R2T4 for only a few days of attendance in August and has reduced pell to a very small percentage of the scheduled award. The other school's fall semester also runs August to September. Student is requesting federal aid at our school. In this scenario, can we pay this student pell for the same payment period that other school has completed an R2T4 for? If you could please provide a link or reference to regulatory guidance relevant to this case.
>
> Thanks in advance for your help.
>
> Karen
>
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>
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> End of OASFAA Digest, Vol 113, Issue 9
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