Campus Partners Update Newsletter
April 1, 2009
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Inside Campus Partners Sheryl Shoaf
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President’s Fiscal 2010 Budget Proposal and the Perkin Program
As many of you already know, President Obama has released an outline of his Fiscal 2010 Budget Overview, which includes a proposal to modernize and expand the Perkins Loan program.
Under the proposal, loans would be originated and fully serviced by the Department of Education. According to the budget proposal, the Department believes it “can collect loans more efficiently and effectively than many colleges.”
The new version of Perkins would continue to make loans to students at a 5% interest rate, and interest would accrue while students were in school. Schools would have discretion with regard to student eligibility. Other terms and conditions and loan maximums would be the same as the current unsubsidized Stafford Loan program.
The plan also includes a call to increase the amount of available Perkins funds from $1 billion to $6 billion, and to expand the program to all 4,400 institutions of higher education, as opposed to the 1,800 that currently use the program. According to the Department, this will expand the scope of Perkins by making it available to nearly 2.7 million students, as opposed to the 500,000 who currently receive Perkins Loans.
Details of the FY 2010 budget proposal will be released in April.
Please keep in mind that this is a proposal. Any changes to the law must be made by Congress and approved by the President. COHEAO is working to determine the Department of Education’s intentions and has offered to work with the Department as this proposal is developed further. As an active member of COHEAO, Sharon Cameron, Audit and Compliance Specialist for Campus Partners, will be be very involved in this process. We will keep you posted on any ground breaking news in future editions of the Campus Partners Update. We have included a copy of the President’s FY 2010 Budget Proposal as an attachment below.
Attachment President's FY 2010 Budget Proposal
Fiscal Operations Report for 2008-2009 and Application to Participate for 2010-2011 – Information Collection Request
The Department of Education (ED) has published a proposed Information Collection Request for the 2011 FISAP. This application data will be used to compute the amount of funds needed by each school for the 2010-11 award year.
The Fiscal Operations Report data will be used to assess program effectiveness and account for funds expended during the 2008-09 award year. The Reallocation form is part of the FISAP on the Web. Schools should use it in the summer to return unexpended funds for 2008-09 and to request supplemental FWS funds for 2009-10. Interested persons are invited to submit comments on or before May 11. You may access this Federal Register, which includes instructions to view the draft FISAP form and instructions at http://www.ifap.ed.gov/fregisters/FR03112009FISAP.html.
The following changes have been proposed for this year.
- Part III, Section A. – Lines added to report loan cancellations for various reasons due to the changes in the Higher Education Opportunity Act (HEOA).
- Part III, Section A. – Lines added to accommodate short-term loans to the Fund.
- Part III, Section B. – Lines added to allow for the transfer of Federal Work- Study funds to the Federal Perkins program (authorized under HEOA).
- Part IV, Section B. – Changed to allow for transfer of funds from the Federal Supplemental Education Opportunity Grants Program (FSEOG), which is now authorized under HEOA, to be spent in the Federal Work-Study Program (FWS).
- Part V, Section B. – Changed to allow funds to be transferred from the FSEOG to be spent in the FWS Program and to allow funds to be transferred from the FWS program to the Federal Perkins program. Lines were also added to report funds that were spent for students impacted by a disaster and students who participated in civic education activities.
Campus Partners staff is diligently working to make the appropriate changes to this year’s FISAP. We are also working to add new cancellation codes and update the Accounting Report (NDSL/INST) to accommodate the new cancellation categories. Stay tuned to future editions to the Campus Partners Update for additional information as these changes are released.
ED Makes Minor Correction to Total and Permanent Disability Discharge Application
ED announced in Dear Colleague Letter CB-09-02 that they inadvertently omitted the last several words of the last sentence in Section 6 on page 4 on the PDF version of the Discharge Application form. The Microsoft Word version is correct. We have updated our Web sites to include the corrected PDF version of this form. You may access both the Microsoft Word and PDF versions of this form at campuspartners.com and your borrowers at mycampusloan.com.
2009-2010 Federal Pell Grant Payment and Disbursement Schedules
ED has also published Dear Colleague Letter P-09-01 this month. PDF and Excel versions of Payment and Disbursement Schedules for determining Federal Pell Grant awards for the 2009-10 award year (July 1, 2009 - June 30, 2010) for full-time, three-quarter-time, half-time, and less-than-half-time students are attached to this DCL. All 2009-2010 Federal Pell Grant awards must be based on these schedules.
The maximum Federal Pell Grant for the 2009-10 award year increases to $5,350, an increase of $619 over the 2008-09 award year. To view this DCL, go to
http://ifap.ed.gov/dpcletters/P0901.html.
Imaged Documents on Demand
Imaged borrower documents are easily downloaded from System 3i. Documents imaged within the last 30 days are immediately available, while documents dating from December 1, 2008 can be restored in a few seconds more. Please see our January Update newsletter to reference “How to Retrieve Imaged Documents.”
We are profiling Sheryl Shoaf in this month’s “Inside Campus Partners” feature article. Sheryl is one of the staff members that worked diligiently to make the convenience of accessing imaged documents available.
Get Ready for Year-End Processing
June 30, 2008 may be three months away, but it is not too early to start planning for year-end processing. Use this checklist to help close the fiscal year successfully:
1. Reconcile loan and accounting information.
· Reconcile all disbursements for the year.
· Correct and return all unpostable new loans and advances.
· Check and update separation dates.
· Reconcile your general ledger.
2. Determine special needs and communicate them to us.
· Contact your auditors to determine the reports they need.
· Submit change/adjustment requests for processing.
3. Work the Cohort Default Rate Report.
· Provide your Customer Service Representative with requests for coding changes.
As the end of the fiscal year approaches, our goal is to process all Customer Service requests in a timely manner. All requests are processed in the order that we receive them, whether they arrive via regular mail, overnight mail, fax, DataLink Dispatch, or e-mail.
Important Year-End Processing Deadlines
June 5 Requests for duplicate reports
June 19 Requests for Change/Adjustment memos
June 26 Year-end post begins
Remember, you can use eXpressReports to access your fiscal year-end reports immediately following year-end processing. This Internet tool provides you with the fastest method of receiving your year-end information. Our Customer Service team can assist you with creating any special report that you need using myReports, our ad hoc reporting tool.
myReports is an extremely useful tool for generating year-end--or any custom report. Hundreds of variables are available so you can hone in on just the variables you need. Along with ad hoc reports, pre-formatted reports are also available.
Many filtering options are available to create reports specific to your school. Sort criteria include choice of alpha or numeric sort and data qualifiers. Report output can be grouped by specified criteria, and monetary amounts can be totaled.
Based on information commonly requested by customers, we created several semi-customized reports with pre-set filters to make generating ad hoc reports even more convenient.
Reports can be downloaded in PDF format for viewing or printing. You also can export data into a text file or spreadsheet.
Saved reports can be stored so you can access them as needed. Saved reports also can be produced on demand or scheduled to automatically generate on a routine basis.
Please see this month’s revised “How to Guide” for more information about myReports.
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“The products that you offer are wonderful. The service is great..so I am very well satisfied. I love the Webinars...I don’t have to travel, and it saves the College money..I really enjoy those classes.”
Cassy Mazzagatti
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Student Loans 101 and 202 Schedule for 2009
We will be presenting Student Loans 202 on April 2-3. There has been much interest in this workshop so be sure to register early to guarantee a seat. The workshop is geared toward the more experienced student loan professional and will present advanced training on using our system as well as other topics. Participants will gain hands-on experience at individual workstations in the newly renovated training room.
Student Loans 202: April 2-3
Student Loans 101: July 9-10
Time: Day One: 8:30 AM- 4:00 PM Day Two: 8:30 AM - 1:00 PM
To register, fax a completed registration form to Debra Pitts at 336-607-2025.
Attachment:Student Loan 101 and 202 Flyer and Registration Form for 2009
To register, fax a completed registration form to Debra Pitts at 336-607-2025.
Sign up for Web Conferences !
Our Web Conference for 2009 schedule appears below. These webinars allow you to see the actual presentation and interact with our staff and other student loan administrators without leaving the office! The training is great and there is no charge--not even long distance charges--for the training.
To register for one or more training events, please contact Debra Pitts at dpitts@campuspartners.com.
2009 Web Conference Schedule
| Topic | Date |
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The Borrower Experience |
Thursday, May 14 2:00 to 3:30 Eastern |
FISCOP Reporting |
Thursday, June 11 2:00 to 3:30 Eastern |
Cohort: What is it and How Do I Manage it? |
Thursday, August 13 2:00 to 3:30 Eastern |
Where do I start? A Month to Month Guide |
Thursday, September 10 2:00 to 3:30 Eastern |
Open |
Thursday, October 8 2:00 to 3:30 Eastern |
Regulations Update |
Thursday, November 12 2:00 to 3:30 Eastern |
| Tips for Managing Delinquencies |
Thursday, December 10 2:00 to 3:30 Eastern |
Campus Partners staff will attend the following conferences during the first six months of 2009.
EARMA will hold its Annual Meeting on April 6-7 in East Brunswick, NJ at the Hilton Hotel. More information is available at http://www.studentabc.rutgers.edu/EARMA/.
PDG will present its National Conference for University Bursars, Cashiers, and Treasury Managers on April 19-22 in Austin, TX. More details are available at www.prodev.com.
CAASLAR will hold its Annual Meeting April 23-24 at the Lake Shore Lodge in Estes Park, CO. Please visit www.caaslar.org for more information.
KASRO will present its Spring Meeting at Barren River State Resort Park. More details are available at www.kasro.net.
The 2009 Western Student Financial Services Conference will be held July 19-22 at the LaSells Steward Center at Oregon State University in Corvallis, OR. For more details, please visit http://oregonstate.edu/conferences/pac10/index.html.
COHEAO will hold their mid-year conference in Philadelphia, PA on August 1-4. We will provide more information as it becomes available. COHEAO’s Web address is http://www.coheao.org.
Williams & Fudge will hold its Student Loans and Receivables Collection Conference on September 20-23 at the Hilton Mrytle Beach Resort. For more information, go to http://www.wfcorp.com/news/upcoming.html.
The Texas Bursars for Universities and Colleges will host the Texas BUC$ Conference at the Omni Bay Front Hotel on Oct. 11-14 at Corpus Christi, TX. More details are available at http://texasbucs.com.
The Minnnesota Collection Network will present its Mega Conference XVII on Oct 19-21 at the Sheraton Bloomington in Bloomington, MN. More information is available at http://www.mnnetwork.org/.
Cutoff dates for March, April, May, and June are presented below:
Transaction
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Mar. 2009 |
Apr. 2009 |
May 2009 |
June2009 |
|---|---|---|---|---|
Last day to receive collection payments |
3/24 |
4/27 |
5/26 |
6/23 |
Last day to receive regular payments |
3/25 |
4/28 |
5/27 |
6/24 |
Last day for online payments |
3/27 |
5/01 |
5/29 |
6/26 |
Date final post begins |
3/27 |
5/01 |
5/29 |
6/26 |
Report date used for final post |
3/31 |
4/30 |
5/31 |
6/30 |
Last day deposits created for deposit to bank account |
3/27 |
4/30 |
5/29 |
6/26 |
2009 Cutoff Dates
Month |
Last day to receive collection payments |
Last day to receive regular payments |
Last day for on-line payments |
Date final post begins |
Report date used for final post |
Last day deposits created for deposit to bank account |
December 2008 |
12/26/2008 |
12/29/2008 |
1/2/2009 |
1/2/2009 |
12/31/2008 |
12/31/2008 |
January 2009 |
01/27/2009 |
01/28/2009 |
01/30/2009 |
01/30/2009 |
01/31/2009 |
01/30/2009 |
February 2009 |
02/24/2009 |
02/25/2009 |
02/27/2009 |
02/27/2009 |
02/28/2009 |
02/27/2009 |
March 2009 |
03/24/2009 |
03/25/2009 |
03/27/2009 |
03/27/2009 |
03/31/2009 |
03/27/2009 |
April 2009 |
04/27/2009 |
04/28/2009 |
05/01/2009 |
05/01/2009 |
04/30/2009 |
04/30/2009 |
May 2009 |
05/26/2009 |
05/27/2009 |
05/29/2009 |
05/29/2009 |
05/31/2009 |
05/29/2009 |
June 2009 |
06/23/2009 |
06/24/2009 |
06/26/2009 |
06/26/2009 |
06/30/2009 |
06/26/2009 |
July 2009 |
07/28/2009 |
07/29/2009 |
07/31/2009 |
07/31/2009 |
07/31/2009 |
07/31/2009 |
August 2009 |
08/25/2009 |
08/26/2009 |
08/28/2009 |
08/28/2009 |
08/31/2009 |
08/28/2009 |
September 2009 |
09/25/2009 |
09/28/2009 |
10/2/2009 |
10/2/2009 |
09/30/2009 |
09/30/2009 |
October 2009 |
10/27/2009 |
10/28/2009 |
10/30/2009 |
10/30/2009 |
10/31/2009 |
10/30/2009 |
November 2009 |
11/20/2009 |
11/23/2009 |
11/25/2009 |
11/27/2009 |
11/30/2009 |
11/25/2009 |
December 2009 |
12/28/2009 |
12/29/2009 |
12/31/2009 |
12/31/2009 |
12/31/2009 |
12/31/2009 |
January 2010 |
01/26/2010 |
01/27/2010 |
01/29/2009 |
01/29/2009 |
01/31/2009 |
01/29/2009 |
