Campus Partners Update Newsletter
October 13, 2011
Holiday Closing: November 24-25; Thanksgiving |
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On September 19, the Office of Budget and Management released the President’s Proposal for the Joint Select Committee on Deficit Reduction. Through the organization’s Web site, Wes Huffman of COHEAO has commented that the plan to create savings in the higher education programs is missing from the report. On page 17, the report states: “This list does not include mandatory savings in higher education programs, because savings from these types of programs should be directed back into helping America’s students enter and finish college.”
Huffman interprets this statement to mean that the “President may still put some of his proposals, including the ‘modernization’ of the Perkins Loan Program, ‘on the table’ for these negotiations.”
As you will recall, the President’s budget includes plans to change or “modernize” the Perkins loan program by expanding the availability of Perkins loans to more schools and more borrowers. At the same time, the loans would be more costly for borrowers as the in-school interest deferment and many cancellation provisions would be eliminated.
Perkins Loans Authorized until October 2015 – “Business as Usual
In the August Update, we provided a summary of the COHEAO Mid-Year Conference that was held in St. Louis in August 2011. Gail McLarnon with the Department of Education told the group that FSA is concerned because some Perkins schools are not making new loans. McLarnon said that the expectation is that schools make new Perkins loans from the fund on a continual basis—or liquidate their program. FSA is monitoring new loan originations and will be contacting schools when it appears new loans are not being made.
Harrison Wadsworth, Executive Director of COHEAO, shared the following comment through several the listserv groups:
“The Perkins Student Loan Program is reauthorized until October 2014 with an automatic one year extension after that. We are working hard in D.C. to extend this date in the next HEA Reauthorization which is due to come up in the next Congress 2013-14. We have at least four more years to continue to lend out Perkins Loan money to the neediest of students. As they say, “business as usual.” So please pass the word to make sure all possible Perkins money is being used for its intended purpose – to make higher education possible for students with financial need.”
ED Provides Additional Guidance on Debt Ceiling Bill
As reported in the August edition of the Update, the Budget Control Act (BCA)—also known as the debt-ceiling bill—was signed into law on August 2, 2011. ED has issued a Dear Colleague Letter detailing the student loan provisions of the BCA.
BCA eliminated Direct Subsidized loans for graduate and professional students and most borrower benefits for Direct Loans disbursed on or after July 1, 2012. Only the interest rate reduction of up to .25% offered for automatic debit of loan payments still remains.
You may review this DCL at http://www.ifap.ed.gov/dpcletters/GEN1116.html.
Discharge Application for TPD – Comments Requested
The Department of Education is seeking comments on the Discharge Application for Total and Permanent Disability. The borrower is required to complete this application if he or she is applying for discharge of his or her Perkins loan, Direct Loan, FFEL, or TEACH Grant. Interested parties are invited to submit comments about the revision of this form on or before November 7, 2011.
You may view copies of the proposed information collection request by going to: http://edicsweb.ed.gov.Select the “Browse Pending Collections” link and click on link number 4709.
The Federal Register Notice is available at: http://ifap.ed.gov/fregisters/FR090811TeachTPD.html.
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ED Develops New Program Integrity FAQ Website
ED has developed a new Web site to answer frequently asked questions concerning Program Integrity Rules that were issued on October 29, 2010. The Web site will be updated on a regular basis and contain links to guidance on Program Integrity Issues.
The new website is available at the following link: http://www2.ed.gov/policy/highered/reg/hearulemaking/2009/integrity-qa.html.
To read this electronic announcement, go to:
http://ifap.ed.gov/eannouncements/090211PIQAWebSite.html.
Campus Partners is celebrating anniversaries of 45, 40, 35, and 30 years with the following customers this quarter. Customers reaching other milestone anniversaries this quarter are listed in the attachment.
45 Years
Erskine College
Morris College
40 Years
Alice Lloyd College
Cleveland Institute of Music
Chancellor University
Maryland Institute College of Art
St. Josephs College (NY)
Virginia Commonwealth University
35 Years
Stevens Institute of Technology
30 Years
College of St. Joseph in Vermont
Hendrix College
Mercy College
University of Tampa
Winston-Salem Foundation
Attachment: Long-Term Customer Anniversaries
Web Conferences
Web conferences are a great way to receive training without leaving your office--and they are free of charge. Please email Debra Pitts at dpitts@campuspartners.com to register for any or all web conferences, specifying the web conferences you plan to attend.
The two remaining Web conferences for 2011 are listed below.
| Topic | Date |
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Regulations Update |
Thursday, November 17 2:00 to 3:30 Eastern |
Tips for Managing Delinquencies |
Thursday, December 8 2:00 to 3:30 Eastern |
2012 Web Conference Schedule
| Topic | Date |
|---|---|
The Borrower Experience |
Thursday, February 9 2:00 to 3:30 Eastern |
How to Use & Interpret Reports |
Thursday, April 12 2:00 to 3:30 Eastern |
Understanding and Interpreting History |
Thursday, May 3 2:00 to 3:30 Eastern |
Cohort: What is it and How do I Manage it? |
Thursday, July 12 2:00 to 3:30 Eastern |
Understanding and Completing the FISAP |
Thursday, August 9 2:00 to 3:30 Eastern |
Special Payment Arrangements: How Can Borrowers Benefit? |
Thursday, September 13 2:00 to 3:30 Eastern |
Regulations Update |
Thursday, November 15 2:00 to 3:30 Eastern |
All About the Collections Process |
Thursday, December 13 2:00 to 3:30 Eastern |
Student Loan Workshops—2012 Schedule
The dates for Student Loan 101 and 202 workshops are listed below. Student Loans 101 is designed for recently hired student loan administrators at your school or new Campus Partners customers, while Student Loans 202 provides more advanced training. Both events offer hands-on training at individual workstations and the opportunity to ask questions and receive personal attention.
Student Loans 101 |
March 8-9; October 11-12 |
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Student Loans 202 |
June 14-15 |
Time |
Day 1: 8:30 AM to 4:00 PM |
Registration Form and Information |
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To Register
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Fax the completed registration from to Debra Pitts at 336-607-2025.
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Conference Schedule
Campus Partners staff will attend the conference listed below.
The Minnesota Collection Network will host its annual conference October 16-19 at the Sofitel Minneapolis in Bloomington, MN. More details are available at www.mnnetwork.org.
Cutoff dates for October are listed below. Cutoff dates for 2012 are available in the attachment referenced below.
Transaction
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October 2011 |
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Last day to receive payments submitted by collection agencies |
10/26 |
Last day to receive payments and payment transmittals sent directly to the Campus Partners office |
10/28 |
Last day to make online payments and/or reverse payments |
10/31 |
Last date to receive payments at our lockbox location |
10/31 |
Date month-end processing begins |
10/31 |
Attachment: 2012 Cutoff Dates
