Review of Recent Announcements

            As a service to its participating schools and lenders, the Utah Higher Education Assistance Authority (UHEAA) offers the following review of recent announcements and releases from the U.S. Department of Education or other sources.  These reminders cover topics of general interest and importance that relate to the administration of federal student aid.

            A monthly summary of selected announcements, publications and guidance from the U.S. Department of Education brought to you by UHEAA.

ELECTRONIC ANNOUNCEMENTS

Date:  February 12, 2007
Summary: 2007-2008 ISIR Analysis Tool Web Application Now Available
Federal Student Aid announces that the 2007-2008 version of the ISIR Analysis Tool is now available through the FAA Main Menu of the FAA Access to CPS Online Web site.
http://ifap.ed.gov/eannouncements/0708ISIRAnalToolAvailNtwkMssgAprvls.html

Date:  February 14, 2007
Summary: FY 2005 Draft Cohort Default Rates Distributed February 12, 2007
Monday, February 12, 2007, the Department distributed the FY 2005 Draft Cohort Default Rate notification packages.  For eligible schools enrolled in the Electronic Cohort Default Rate (eCDR) process, delivery was made to the Student Aid Internet Gateway (SAIG) destination point designated by the school.  Domestic schools not enrolled in eCDR will not receive notification packages from the Department but may download their cohort default rates and accompanying Loan Record Detail Reports at www.nsldsfap.ed.gov.   http://ifap.ed.gov/eannouncements/0214PosteCDRRelease.html

Date:  February 15, 2007
Summary: Correction to the 2007-2008 FAFSA instructions for questions 37 and 81
The final version of the 2006 IRS 1040EZ form changed the 1040EZ instructions and worksheet for determining number of exemptions. Because of this IRS change, the current 2007-2008 FAFSA instructions for question 37 and question 81 are incorrect. The correct instructions for questions 37 and 81 are contained in this Announcement.
http://ifap.ed.gov/eannouncements/0215FAFSAFOTW0708Correct.html

Date:  February 23, 2007
Summary: 2007-2008 Operational Implementation Guidance Including HERA-Related Updates
The referenced operational implementation guidance for the 2007-2008 Award Year includes information related to the Higher Education Reconciliation Act of 2005 (the HERA).    http://ifap.ed.gov/eannouncements/0708OpImpGuidHERA.html

Date:  February 27, 2007
Summary: Updated--Continuing Resolution's Impact on the 2007-2008 Award Year.
On February 15, 2007, the President signed the Revised Continuing Appropriations Resolution, 2007, (P.L. 110-5).  This legislation establishes the maximum Pell Grant award for the 2007-2008 Award Year at $4,310 and, with the minimum award continuing to be $400, sets the maximum Expected Family Contribution (EFC) that a student may have to be eligible to receive a Pell Grant at 4110.
http://ifap.ed.gov/eannouncements/0227CRandPellPmtSchedules.html

Date:  March 2, 2007
Summary: Recertification Reminder Notices to be Sent Electronically Starting March 2007.
Recertification reminder notices informing you of when your institution's Program Participation Agreement (PPA) is scheduled to expire will now be sent via e-mail to the institution's president and financial aid administrator beginning in early March 2007.
http://ifap.ed.gov/eannouncements/0302RecertificationEmails.html

DEAR PARTNER/COLLEAGUE LETTERS

DCL Publication Date:  February 21, 2007
P-07-01
Subject:  2007-2008 Federal Pell Grant Payment and Disbursement Schedules.
http://ifap.ed.gov/dpcletters/P0701.html

DCL Publication Date:  March 01, 2007
FP-07-02
Subject:  Revised Promissory Note Addendum and Plain Language Disclosure for Federal Stafford Loans made under the Federal Family Education Loan (FFEL) Program.
http://ifap.ed.gov/dpcletters/FP0702.html

TRAINING ANNOUNCEMENTS

Publication Date:  February 26, 2007
ANN-07-02
Summary:  This letter announces Federal Student Aid’s 2007-08 online, instructor-led training sessions on our Return of Title IV Funds software. Topics covered include using the on-line R2T4 calculation software properly to calculate the return of Federal funds resulting from student withdrawals. This session includes the changes to the R2T4 calculation resulting from the Higher Education Reconciliation Act of 2006.
http://ifap.ed.gov/dpcletters/ANN0702.html

Publication Date:  February 26, 2007
ANN-07-03
Summary:  This letter announces Federal Student Aid’s 2007-08 online, instructor-led training sessions on Applicant Data Resolution. Topics covered include resolving student application data rejects and using the Department’s Web based systems to correct errors.
http://ifap.ed.gov/dpcletters/ANN0703.html

FEDERAL REGISTER

Publication Date:  January 24, 2007
Volume 72, Number 15, Page 3147-3148
Summary:  This notice provides an update of the HHS poverty guidelines to account for last calendar year's increase in prices as measured by the Consumer Price Index.
http://aspe.hhs.gov/poverty/07fedreg.htm

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