Review of Recent Announcements

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

Dear Partner/Colleague Letters

Date: January 8, 2008
GEN-08-01/FP-08-01
Summary: This letter discusses the major changes made to the Title IV loan and grant programs, modifications made to Needs Analysis, guidance on the Teacher Education Assistance for College and Higher Education (TEACH) grant, and information on partnership grants.
http://ifap.ed.gov/dpcletters/010808GENFP0801.html

Date: January 8, 2008
FP-08-02
Summary: This letter announced revised promissory note addenda and Plain Language Disclosures for Federal Stafford Loans and Federal Plus Loans, and a new promissory note addendum for Federal Consolidation Loans.
http://ifap.ed.gov/dpcletters/FP0802.html

Date: January 14, 2008
P-08-01
Summary: Posted are the Payment and Disbursement Schedules for determining Federal Pell Grant awards for the 2008-2009 award year (July 1, 2008 – June 30, 2009) for full-time, three-quarter-time, half-time, and less-than-half-time students.
http://ifap.ed.gov/dpcletters/P0801.html

Date: January 17, 2008
CB-08-01
Summary:  FSA announced the posting date for schools’ tentative funding levels and corresponding worksheets for the Federal Perkins Loan, Federal Work-Study, and Federal Supplemental Educational Opportunity Grant programs for the award period July 1, 2008 through June 30, 2009.
http://ifap.ed.gov/dpcletters/011708CB0801.html

FSA Handbook

Date: January 8, 2008
Summary: Volume 2 of the 2008-2009 Federal Student Aid Handbook, “School Eligibility and Operations,” has been posted on IFAP. Adobe Acrobat Reader 4.0 or greater is needed to read the PDF File.
http://ifap.ed.gov/sfahandbooks/0809FSAHBKVol2.html

Date: January 18, 2008
Summary: FSA posted Errata and Updates for the 2007-2008 Federal Student Aid Handbook.
http://ifap.ed.gov/sfahandbooks/0118handbookerrata0708.html

Electronic Announcements

Date: January 22, 2008
Summary: FSA alerted schools that they began sending 2008-2009 Renewal Free Application for Federal Student Aid (FAFSA) reminder notifications to students.
http://ifap.ed.gov/eannouncements/012208RenewFAFSAReminder0809.html

Date: January 24, 2008
Summary: FSA announced the availability of the electronic Cohort Default Rate Appeals process (eCDR Appeals) for use beginning with the FY 2006 draft cohort default rate distribution on February 11, 2008.
http://ifap.ed.gov/eannouncements/012408IFAPeCDRAppealsnoticeJan08draft.html

Date: January 25, 2008
Summary: On January 28, 2008, FSA began reprocessing 2009-2009 Institutional Student Information Records (ISIRs) for applicants impacted by the CCRAA change in the maximum Pell-eligible EFC from 4110 to 4041.
http://ifap.ed.gov/eannouncements/01250809ISIRReprocessPellMaxEFC.html

Date: January 28, 2008
Summary: FY 2006 Draft Cohort Default Rates will be released on February 11, 2008 to all eligible schools.
http://ifap.ed.gov/eannouncements/012808IFAPPreCDR.html

Date: January 29, 2008
Summary: On January 28, 2008, FSA sent a message to schools that have a Pell Grant Current funding Level (CFL) for 2007-2008 that is greater than their Net Accepted and Posted Disbursements (NAPD) warning that affected schools will have their CFL reduced to the NAPD if the CFL is still greater than the NAPD on February 13, 2008.
http://ifap.ed.gov/eannouncements/012908PellGrantCFLReduction0708.html

Date: February 1, 2008
Summary: FSA announced the availability of the updated electronic 2008-2009 Federal School Code (FSC) List of Participating Schools on the IFAP Web site.
http://ifap.ed.gov/eannouncements/0201FedSchoolCodeListUpdates0809.html

Any questions related to this Bulletin should be directed to UHEAA Policy and Training at 801.321.7166, or by e-mail to mjohnson@utahsbr.edu.

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