FSA guidance:

Pell Grants

As noted in our recently posted Dear Colleague Letter GEN-14-01, the maximum Pell Grant amount for 2014-2015 is $5,730 with a maximum Pell eligible EFC being 5157. For a listing of all of our Pell payment and disbursement schedules for 2014-2015, please see GEN-14-01 - http://ifap.ed.gov/dpcletters/GEN1401.html.

Verification

As mentioned in the November 8, 2013 electronic announcement that discussed ED’s suggested text for the verification process in 2014-2015, beginning with the 2013 tax year, a tax filer who is not able to request an IRS Tax Return Transcript because of identity theft, will be able to call a special IRS toll-free number (1-800-908-4490) for assistance. Upon verification of identity, the tax filer can request the IRS provide a paper copy of an alternative document unique to identity theft issues (a Tax Return Data Base View form - TRDBV).

Another change beginning with tax year 2013 is with regards to requesting tax return transcripts online. Once an online transcript request is validated, the IRS will return in real-time, a transcript in a portable document format (pdf). Tax filers can then print, save and/or forward the pdf transcript as instructed by the school.

One important point to keep in mind when discussing transcripts is that regardless of the request method, the IRS cannot produce a transcript if it has not yet processed the filed tax return.

These updates and other guidance related to transcripts will be provided in an upcoming electronic announcement – stay tuned to IFAP.

And finally, please remember that all schools are required to update the verification identity and high school completion status results for students selected in 2014-2015 under verification tracking groups V4 and V5 in FAA Access to CPS Online. The updates are required for students for whom the school received an ISIR with a Verification Tracking Group of V4 or V5 AND for whom the school requested verification documentation. Please do NOT include students the school selected for verification of identity or high school completion status. For more information, including potential time frames, instructional steps, and system guidance, please see the November 13, 2013 electronic announcement.


150% Direct Subsidized Loan Limitations
I continue to receive a high volume of calls and emails around the new 150% Direct Subsidized Loan Limitations. I am glad to announce that ED recently created a webpage dedicated to the 150% Direct Subsidized Loan Limitations which can be found on the right-hand side of the IFAP.ed.gov homepage (http://ifap.ed.gov/150PercentDirectSubsidizedLoanLimitInfo/index.html). This webpage contains federal registers, Dear Colleague Letters, Electronic Announcements, over 50 Q & As, and various training and reference materials. We are providing information on this topic on a regular basis and it is very important to monitor IFAP for any updates and new information.

One of the newest pieces of information related to the 150% Direct Subsidized Loan limitations is the release of the final federal register dated January 17, 2014. The major changes to the regulations include –

•- Usage period calculations will now be rounded to the nearest 10.0 percent and not to the lowest 25.0 percent.
•- Both exceptions to the standard subsidized usage period calculations will now apply to borrowers who are enrolled part-time and receive the annual loan limit for a period of enrollment less than an academic year. First the annual loan limit exception will be applied and then the part-time exception will be applied.
•- There are two new adjustments to the Maximum Eligibility Period (MEP) Calculations for 2-year bachelor’s degree completion programs and special admission associate degree programs.
•o Two-year bachelor’s degree completion programs that require an associate degree or 2 years of postsecondary coursework for admission is considered to be 4 years long (MEP = 6 years).
•o Special admission associate degree programs that require an associate degree or at least two years of coursework for admission is considered to be four years long (MEP = 6 years). In addition, to be considered a special admission associate degree program, the program must have a selective admissions process and the coursework must be necessary for licensure or certification by the State for the student’s profession.
For more information on the recently published final federal register please see our electronic announcement dated January 17, 2014 - http://ifap.ed.gov/eannouncements/011714RevisedFinalRegulationsPublished150PercentEANum8.html.

High School Diplomas

Policy recently created a new category under the program integrity Q & A website entitled “high school diploma.” This category covers common questions dealing with when to verify high school diplomas, high school diploma equivalents, foreign high school diplomas, certificates of completion and many other key questions. For more information, please review the new high school diploma category on the program integrity website which can be found on the right-hand side of the IFAP homepage or at http://www2.ed.gov/policy/highered/reg/hearulemaking/2009/integrity-qa.html.

Gainful Employment Disclosures

The long awaited ED disclosure template for GE programs was released back in November 2013. To access the disclosure template application, the institution must go to the following website: http://www2.ed.gov/policy/highered/reg/hearulemaking/2009/negreg-summerfall.html. All institutions must update their GE Program disclosures with the 2012-2013 award year information no later than January 31, 2014 using the released template process.

In addition, institutions must prominently provide a direct link from the home page of the GE Program website to the program’s disclosure page that was generated by the disclosure template application. Any technical questions regarding the template can be directed to (855) 359-3697 or gedt@inovas.net.

For more information regarding the GE disclosure template, please see our GE electronic announcement #46 dated November 22, 2013.

Final Federal Register – 11/1/13 – Loans II

One specific item I wanted to highlight from our final federal register dated November 1, 2013 that dealt with loans was our regulation regarding minimum loan periods for transfer students in non-term credit and clock hour programs. The new regulation under 34 CFR 685.301(a) (10) states –

•- (ii) For a student who transfers into a school from another school and the prior school originated a loan for a period of enrollment that overlaps the period of enrollment at the new school, the new school may originate a loan for the remaining portion of the program or academic year. In this case the school may originate a loan for an amount that does not exceed the remaining balance of the student’s annual loan limit.

Under this new regulation it does not matter if hours transfer in or not. This regulation can be implemented early as of November 1, 2013.

In addition, below are some basic principles tied to the overlapping of Academic Years and loan periods in non-term settings –

1. The abbreviated loan period starts when the student starts at school B.
2. The abbreviated loan period ends when the AY would have ended at School A and it does not matter how many hours or weeks of instructional time the student has completed.
3. The amount that can be borrowed in the abbreviated loan period is any remaining amount of the annual loan limit that was not disbursed at School A.
4. The first disbursement of the remaining balance loan borrowed for attendance at School B would be disbursed at the beginning of the loan period. The loan must be multiply disbursed in at least two disbursements over the abbreviated loan period unless School B is subject to the low CDR rule, with the second disbursement of the loan disbursed at the calendar midpoint of the abbreviated loan period regardless of how many clock/credit hours or weeks of instructional time have been completed.
5. The next loan period at School B would begin the day after the last day of the abbreviated loan period.
6. The next loan period would be subject to the normal BBAY3 rules in that the student must complete hours and weeks of instructional time before qualifying for the second disbursement and to progress to the next academic year for annual loan limit purposes.

Net Price Calculator

In our electronic announcement dated January 27, 2014, we indicated that the latest version of the Department's Net Price Calculator template, which reflects data from the 2012-2013 award year, is now available at the Department's Net Price Calculator Information Center (http://nces.ed.gov/ipeds/resource/net_price_calculator.asp). Please ensure your NPC has been properly updated with your 2012-2013 award year information.

REACH FSA Phone Number

And in case you sometimes forget the phone number of your favorite FSA Customer Service Center or System representative, don’t forget about Reach FSA. REACH FSA is a new phone line designed to provide the financial aid community with simplified access to FSA School Contact Centers. Schools now have the option of calling one number, 1-855-FSA-4-FAA (1-855-372-4322), to connect immediately to any of the following FSA School Contact Centers:

•· Campus-Based Call Center

•· Central Processing System (CPS)/ Student Aid Internet Gateway (SAIG) Technical Support

•· Common Origination and Disbursement (COD) School Relations Center

•· eZ-Audit Help Desk

•· FSA Research and Customer Care Center (RCCC)

•· Foreign Schools Participation Division

•· G5 Hotline

•· National Student Loan Data System (NSLDS) Customer Support Center

•· Nelnet Total and Permanent Disability Servicer

•· School Eligibility Service Group

For more information about REACH FSA, please see our electronic announcement dated November 15, 2013.

……….. Ann Tinnon.      

As many of you are aware, the TASFAA President each year presents a scholarship award to a student at their institution.  I remember as TASFAA President in 1995-96 presenting that award to two Vanderbilt students who worked as work-study assistants in the Office of Student Assistance.  It was a small award at that time, but each received $250.00 and expressed such gratitude.

For many years the award was simply the “TASFAA Presidential Scholarship”.  But, that changed in 1993 when TASFAA suddenly lost a dear friend and colleague, Ann Tinnon.  To honor her, the TASFAA Board changed the name to the “Ann Tinnon Memorial Scholarship”.  I remember when I told Peyshun and Kelly that they were receiving the “Ann Tinnon Memorial Scholarship”, I told them about Ann and what Ann had meant to me, to the financial aid profession and to TASFAA.

So, over the next few weeks leading up to the Spring TASFAA Conference you as current TASFAA members will learn a great deal about the beautiful and talented Mrs. Tinnon.

She most recently touched my life in January of 2013, when I lost my husband of 44 years.  Many of my family, friends and TAFAA colleagues were asking what they could do to honor him.  I pulled out a Memory Box that he had given me for our 25^th Anniversary, and discovered there the answer to those questions.  He believed in my career choice, and always said my career was really and truly my calling.  He had placed in that box all of the Thank You notes that I had received from students and their parents over the years.  I pulled that box out often when I became discouraged with the hustle and bustle of financial aid. There I found a copy of an old TASFAA CROSSFEED newsletter containing a picture of Ann.

I asked that anyone who wanted to give to make a contribution to the “Ann Tinnon Memorial Scholarship”.    And, many of you who will be reading this did just that.

 

Jane Pennington

 

 

A brief history of Ann”

• ·         TASFAA President 1982-83

• ·         TASFAA Executive Board member

• ·         Active Committee member

• ·         Publisher of TASFAA’s Admissions and Financial Aid Handbook for counselors and students

• ·         1984 TASFAA Distinguished Service Award

ARE YOU READY? 

Beginning with the 2014-15 academic year, the awarding process for the Tennessee Student Assistance Award (TSAA), the state’s need-based grant program, will change.  Applications with a completion date (an application that is complete and error free) by March 1 will be considered.  The maximum Expected Family Contribution (EFC) will remain at 2100. 

Below is a summary of the awarding process:

• Renewals, TSAA recipients who received an award in the prior year (2013-14), will be given first priority if their applications are complete by March 1.  Renewal students must continue to have an EFC of 2100 or less to receive the award. 

• All other eligible applicants who have a completion date on or before March 1will be ranked based on their Expected Family Contribution (EFC) and completion date after the deadline.

o   Applicants with a zero EFC will be given first priority.

 

o  If funding remains after awarding zero EFC students then awards will be made to applicants with EFCs greater than zero. 

 Students should continue to complete the Free Application for Federal Student Aid (FAFSA) at www.fafsa.gov as early as possible after January 1.  If you have questions about the new awarding methodology, please contact Naomi Derryberry at (615) 253-7478 or naomi.derryberry@tn.gov or Tim Phelps at (615) 253-7441 or tim.phelps@tn.gov. 

Tim Phelps
State Programs Chair

 

 

 

Hello Private Sector TASFAA Members,

It is important to stay abreast of what is happening in the education industry as well as the Federal Government to determine what effects it will have on our Financial Aid offices. 

Trends can help us determine workload needs and assist us with determining budgets and allocation of resources.  It is much better to be proactive than reactive.  We can never predict the future with certainty but knowledge of future events and past experiences can assist us in determine likelihoods.  "Prepare for the worst and hope for the best" can be sound advice.   

I was reading this article titled "Private Higher Education Trends for 2014" and thought I would share the link with you. 

http://thelawlorgroup.createsend1.com/t/ViewEmail/y/D3CEAA6B94933815/F7FC5380C2CC8A13C5EC08CADFFC107B

I also recommend this article as well "Five Factors Facing Private Higher Education". 

http://clients.thelawlorgroup.com/Lawlor_Trends_2014.pdf

JANIE BURNS
burnsj@bethelu.edu

Tax filers can request from the IRS an IRS Tax Return Transcript or an IRS Tax Account Transcript of their 2012 IRS tax return, free of charge, in one of four ways.

Online Request

Available on the IRS Web site at www.irs.gov  In the Tools section of the homepage click "Order a Return or Account Transcript"

Click "Continue"  In the Type of Transcript field, select "Return Transcript" or "Account Transcript" and in the Tax Year field, select "2012".

If successfully validated, tax filers can expect to receive a paper IRS Tax Return Transcript or an IRS Tax Account Transcript, whichever was requested, at the address included in their online request, within 5 to 10 business days from the time the online request was successfully transmitted to the IRS.

IRS Tax Return Transcripts and IRS Tax Account Transcripts requested online cannot be mailed to an address other than the address on file with the IRS.

Telephone Request 

Available from the IRS by calling 1-800-908-9946

 Click "Order a Transcript"

 Enter the tax filer’s social security number, date of birth, street address, and zip or postal code. Use the address currently on file with the IRS. Generally this will be the address that was listed on the latest tax return filed. However, if an address change has been completed either through the IRS or the US Postal Service, the IRS may have the updated address on file, which should be used.

For a joint tax return, use the primary tax filer’s social security number, date of birth, street address, and zip or postal code. Tax filers must follow prompts to enter their social security number and the numbers in their street address. Generally this will be numbers of the street address that was listed on the latest tax return filed. However, if an address change has been completed either through the IRS or the US Postal Service, the IRS may have the updated address on file. For a joint tax return, use the primary tax filer’s social security number, date of birth, street address, and zip or postal code.

 Select "Option 1" to request an IRS Tax Account Transcript or select "Option 2" to request an IRS Tax Return Transcript and then enter "2012".

 If successfully validated, tax filers can expect to receive a paper IRS Tax Return Transcript or an IRS Tax Account Transcript, whichever was requested, at the address included in their telephone request, within 5 to 10 business days from the time the IRS receives the request.

 IRS Tax Return Transcripts and IRS Tax Account Transcripts requested by telephone cannot be mailed to an address other than the address on file with the IRS.

 

 Paper Request Form – IRS Form 4506T-EZ

 IRS Form 4506T-EZ should be used only when requesting an IRS Tax Return Transcript. [See below for information on using IRS Form 4506-T for requesting an IRS Tax Account Transcript and an IRS Record of Account.]

 Download at http://www.irs.gov/pub/irs-pdf/f4506tez.pdf

 Complete lines 1 – 4, following the instructions on page 2 of the form. Note that line 3 should be the most current address as filed with the IRS. It is the address where the IRS Tax Return Transcript will be sent. If the address has recently changed, include the address listed on the latest tax return filed on Line 4. However, if an address change has been completed through either the IRS or the US Postal Service, the IRS may have the updated address on file.

 Line 5 provides tax filers with the option to have their IRS Tax Return Transcript mailed directly to a third party by the IRS. Institutions are responsible for notifying aid applicants whether to list the institution as the third party to receive the Transcript or not. Some institutions may have difficulty matching a parent’s incoming IRS Tax Return Transcript to the aid applicant, as the two names may be different.

 On line 6, enter "2012" to receive tax information for the 2012 tax year that is required for the 2013-2014 FAFSA.

  The tax filers must sign and date the form and enter their telephone number. Transcripts of jointly filed tax returns may be furnished to either spouse. Only one signature is required. Sign the Form 4506T-EZ exactly as your name appeared on the original return. If you changed your name, also sign your current name.

Mail or fax the completed IRS Form 4506T-EZ to the appropriate address (or FAX number) provided on page 2 of Form 4506T-EZ.

 Tax filers can expect to receive their transcript within 10 business days from the time the IRS receives and processes their signed request. NOTE: Processing Form 4506T-EZ means verifying/validating the information provided on the form. If any information does not match IRS records, the IRS will notify the tax filer that it was not able to provide the transcript.

 

Paper Request Form – IRS Form 4506-T

IRS Form 4506-T should be used if requesting an IRS Tax Account Transcript or an IRS Record of Account. Note that IRS Form 4506-T is the only way to request an IRS Record of Account.

 Download at http://www.irs.gov/pub/irs-pdf/f4506t.pdf.

 Complete lines 1 – 4, following the instructions on page 2 of the form. Note that line 3 should be the most current address as filed with the IRS. It is the address where the IRS Tax Account Transcript or IRS Record of Account will be sent. If the address has recently changed, include the address listed on the latest tax return filed on Line 4. However, if an address change has been completed through the IRS or the US Postal Service, the IRS may have the updated address on file.

 Line 5 provides tax filers with the option to have their IRS Tax Account Transcript or IRS Record of Account mailed directly to a third party by the IRS.

 Institutions are responsible for notifying aid applicants whether to list the institution as the third party to receive the Transcript or not. Some institutions may have difficulty matching a parent’s incoming IRS Tax Account Transcript or IRS Record of Account to the aid applicant, as the two names may be different.

 

 On line 6, enter the tax form number that you are requesting (1040, 1040A, 1040EZ, etc.) and then check the appropriate box for the transcript being requested. Only one tax form number can be used per request.

 On line 9, enter "12/31/2012" to receive IRS tax information for the 2012 tax year that is required for the 2013-2014 FAFSA.

 The tax filers must sign and date the form and enter their telephone number. Transcripts of jointly filed tax returns may be furnished to either spouse. Only one signature is required. Sign the Form 4506-T exactly as your name appeared on the original return. If you changed your name, also sign your current name.

 Mail or fax the completed IRS Form 4506-T to the appropriate address (or FAX number) provided on page 2 of Form 4506-T.

 Tax filers can expect to receive their IRS Tax Account Transcript or IRS Record of Account within 30 calendar days from the time the IRS receives and processes their signed request. NOTE: Processing Form 4506-T means verifying/validating the information provided on the form. If any information does not match IRS records, the IRS will notify the tax filer that it was not able to provide the transcript or Record of Account.

 

College Goal Tennessee is a non-profit program that provides free information and assistance to Tennessee families applying for financial assistance for higher education. College Goal Tennessee mobilizes financial aid professionals from Tennessee colleges, universities, career colleges, and technology centers to help families of college-bound students complete the Free Application for Federal Student Aid (FAFSA).

For more information, visit the Tennessee College Goal Sunday site (click here for a link).

 

LOCATIONS & DATES

January 11, 2014

Roane State CC - Harriman
(10 a.m. - 3 p.m.)
Directions

Millington Central High School - Millington
(10 a.m. - 12 p.m.)
Directions

MTSU - Murfreesboro
(9 a.m. - 12 p.m.)
Directions

Roane State CC Oak Ridge Campus - Oak Ridge
(10 a.m. - 3 p.m.)
Directions

Motlow State CC Smyrna Campus - Smyrna
(10 a.m. - 1 p.m.)
Directions

January 18, 2014

TCAT at Crump - Crump
(9 a.m. - 1 p.m.)
Directions

Hill Crest High School - Memphis
(11 a.m. - 1 p.m.)
Directions

January 19, 2014

Nashville State CC - Nashville
(2 p.m. - 4 p.m.)
Directions

January 23, 2014

Cleveland State CC - Cleveland
(3 p.m. - 7 p.m.)
Directions

Dyersburg State CC - Jimmy Naifeh Ctr - Covington
(1 p.m. - 7 p.m.)
Directions

Dyersburg State CC - Dyersburg
(1 p.m. - 7 p.m.)
Directions

January 25, 2014

University of TN Chattanooga - Chattanooga
(10 a.m. - 12 p.m.)
Directions

Miller Motte College - Clarksville
Directions

January 26, 2014

Northeast State CC - Blountville
(2 p.m. - 4 p.m.)
Directions

Columbia State CC - Columbia
(2 p.m. - 4 p.m.)
Directions

Pellissippi State CC - Knoxville
(9 a.m. - 2 p.m.)
Directions

LeMoyne Owen College - Memphis
(2 p.m. - 4 p.m.)
Directions

Southwest TN CC - Macon Cove Campus - Memphis
(2 p.m. - 4 p.m.)
Directions

Watkins College of Art - Nashville
(2 p.m. - 4 p.m.)
Directions

January 27, 2014

The Neighborhood Christian Center - Memphis
(6 p.m. - 8 p.m.)
Directions

Nashville State CC - Waverly Campus - Waverly
(5 p.m. - 7 p.m.)
Directions

January 29, 2014

Anointed Temple of Praise - Memphis
(6 p.m. - 8 p.m.)
Directions

January 30, 2014

Bolivar Central High School - Bolivar
Directions

February 6, 2014

Southwest TN CC - Union Campus - Memphis
(2 p.m. - 4 p.m.)
Directions

February 9, 2014

TN Technological University - Cookeville
(2 p.m. - 4 p.m.)
Directions

February 2014 SmartSessions

Your MBTI Leadership Style in the Financial Aid Office: Where the Rubber Meets the Road

New directors are often faced with personnel and team-building challenges as soon as they start the job.  Do you know how to use your MBTI style preference to manage and build your team? Using results from your MBTI assessment, participants will review case studies of best practices for managing conflict, building trust, delegating work, and communicating with peers. You will understand how the MBTI types and your style preferences inform specific ways you can interact with peers, direct reports, and senior leadership to ensure a successful transition to your new role.

Presenters:

Janet Dodson – Associate Director, Tuition Exchange, Past NASFAA Chair, and Certified MBTI Counselor

Sara Vancil – Assistant Director of Financial Aid and Scholarships, The University of Kansas, and Certified MBTI Counselor.

Specific topics covered include: 

• ·         What do the MBTI preferences mean for building teams and managing people?

• ·         What is your natural conflict management style?

• ·         How to use the MBTI results to improve communication

• ·         Putting it all together: case studies from the Financial Aid Office

February 6^th @ 12 PM, Eastern time

Your MBTI Leadership Style in the Financial Aid Office: Where the Rubber Meets the Road

You and Your Data: Understanding and Communicating about Your Student Populations

New directors are frequently asked to provide comprehensive data that explains both expenditures and student outcomes. Do you know how to organize and present your data in a meaningful way? In a time of increased demand for measurable outcomes using limited dollars, it’s imperative that financial aid leaders how to present data about their programs to other campus departments, senior leadership, and trustees so they can ensure funding. This webinar will review common data requests and illustrate ways to organize data, understand patterns and trends over time, and communicate potential outcomes to other offices and decision-makers.

Speakers:

Janet Dodson – Associate Director, Tuition Exchange and Past NASFAA Chair

Susan Murphy – Senior Associate Dean of Academic and Enrollment Services, University of San Francisco

Specific topics covered include:

• ·         Common data requests made of financial aid leaders – why, what, and who

• ·         Preparing a calendar

• ·         Preparing for the unexpected – trust your sources before predicting outcomes

• ·         Techniques for illustrating potential outcomes; tell your story before someone else does

February 18 @ 12 PM, Eastern time
You and Your Data: Understanding and Communicating about Your Student Populations

Difficult Conversations: How to Manage Conflict While Providing Customer Service

Does your front line staff know how to deal with difficult situations in positive ways? This webinar will demonstrate proven techniques for diffusing conflict while providing great customer service.  The financial aid process can be frustrating and emotionally challenging for both parents and students. This heightened anxiety can play itself out in the aid office when parents and students direct anger and frustration at counselors or front line staff. Your teams’ ability to diffuse a difficult conversation and create a problem-solving approach is crucial to your customer service effort.

Presenter: Shannon Patterson, M.S., Instructor in Business Administration and Conflict Management at Argosy University.

Specific topics covered include:

• ·         Bridging conflict management and customer service

• ·         Depersonalizing anger and emotion

• ·         Using reflective listening to gain control

• ·         Strategies for problem-solving that result in trust

February 13 @ 12:00 PM, Eastern time

Difficult Conversations: How to Manage Conflict While Providing Customer Service

February 27 @ 3:00 PM, Eastern time
Difficult Conversations: How to Manage Conflict While Providing Customer Service

Successfully Navigating the Multi-Generational Workplace

The financial aid office often includes employees from the Boomers to the Milennials resulting in various work styles.  Do you know how to manage this diversity and build a strong team?  The complexities of working in a multi-generational environment can be rewarding if you understand how and why different age groups approach and value their work.

Specific topics covered include:

• ·         Understanding what each generation values 

• ·         Learning how different generations communicate: face to face or click to click

• ·         Managing conflict that results from the various styles

• ·         Learning to value our differences

Feb. 5^th @ 3 PM, Eastern time
Successfully Navigating the Multi-Generational Workplace

Feb. 11^th @ 12 PM, Eastern time

Successfully Navigating the Multi-Generational Workplace

Verification: Four Simple Steps to Completion

Get the right dollars to the right students, on time. We’ll show you the easiest steps to completing verification based on recent policy changes and review common issues that arise.

Specific topics covered include:

• ·         Determining who needs to be verified

• ·         Reviewing required documentation

• ·         Resolving conflicting information

• ·         How to understand IRS transcripts – and when to ask for more information

• ·         Making corrections

February 4^th @ 12 PM, Eastern time
Verification: Four Simple Steps to Completion

February 20^th @ 3 PM, Eastern time

 Verification: Four Simple Steps to Completion

Life after Loan Default

The consequences of student loan default can be devastating to your borrowers. Do you know how to explain these outcomes in meaningful ways during loan counseling sessions? If students default on their loans they will damage their credit, risk having their tax refunds and other benefits withheld, and face the possibility of wage garnishment and legal action. These penalties show on the credit report for years, making it difficult for borrowers to secure employment, get a loan to buy a car or home, rent apartments, and in some instances, secure employment. This session will help you understand these long term consequences so that you can provide effective loan counseling.

Specific topics covered include:

• ·         Defining default

• ·         When and how default is reported to credit bureaus

• ·         The long term impact on credit scores and potential ramifications to borrowers

• ·         Options for restoring credit and loan rehabilitation

February 12^th @ at 12 PM, Eastern time

Life after Loan Default

February 25^th @ 3 PM, Eastern time
Life after Loan Default

Managing Loan Default: Making a Difference in 60 Minutes

Managing default prevention activity is important to your institution but requires resources and time. We can show you how to improve your default rate with just a little extra effort each month. By dedicating just 60 minutes each month, you can lower your school’s cohort default rate, and facilitate your ultimate goalundefinedhelping students avoid the negative consequences of loan delinquency and default.

Specific topics covered include:

• ·         Options for contacting late stage delinquent borrowers  --  emails,  letters, and phone calls

• ·         Promoting IBR and Pay As You Earn to early and mid-stage delinquent borrowers

• ·         Reaching out to borrowers during their grace period

February 18^th @ 3 PM, Eastern time
Managing Loan Default: Making a Difference in 60 Minutes

February 27^th @ 12 PM, Eastern time

Managing Loan Default: Making a Difference in 60 Minutes

Decoding CDR Reports and Correcting Data

Draft Cohort Default Rates are due to be released in February. Do you know how to review your report for accuracy? Learn how you can review CDR reports and when to challenge, appeal and adjust to ensure your school’s rate is an accurate reflection of your borrower’s experience in repayment.

Specific topics covered include:

·         The Cohort Default Rate (CDR) cycle

·         The Loan Record Detail report

·         Challenges, Adjustment and Appeals

·         Common appeal errors to avoid

February 13^th @ 3 PM, Eastern time
Decoding CDR Reports and Correcting Data

February 28^th @ 2 PM, Eastern time
Decoding CDR Reports and Correcting Data

All the 2013 sessions are available on the FSA webpage (click here for quick link).

Presentations may be downloaded in a PowerPoint format.

Don Burgess, husband of Deana Burgess, passed away from a massive heart attack on December 25. Please keep Deana in your thoughts and prayers.  Deana is Financial Aid Counselor at Dyersburg State Community College. 

Deana has asked that memorials be made to Finley United Pentecostal Church Building Fund.

The address is Finley United Pentecostal Church

190 Mimosa Street

P. O. Box 119

Finley, TN 38030

Cards to Deana can be sent to Deana Burgess, 1822 McCullough Chapel Road, Dyersburg, TN 38024