TASFAA Conference October 9, 2014 Lyn Wheeler Kinyon Assistant Director, Grants and Special Programs Texas Higher Education Coordinating Board [email protected] Program Updates • • • • • • • TEXAS Grant Texas Educational Opportunity Grant (TEOG) Top 10 Percent Scholarship Texas College Work-Study (TCWS) College Access Loan (CAL) B-On-Time Loan (BOT) Exemptions and Waivers Coordinating Board Identification (CBID) Process Negotiated Rule-Making (NRM) and Allocations Financial Aid Database (FADB) and End-of-Year (EOY) Reports 2 Effective beginning 2014/15: 2-year institutions are no longer eligible to make IY awards 2-year institutions are eligible to make RY awards to eligible students with an IY award at a 2-year institution prior to fall 2014 IY pathway added for students who transfer to a public university with at least 24 SCH’s, a minimum cumulative 2.5 GPA, and an IY TEOG in fall 2014 or later EFC maximum for IY awards = $4,800 3 Target award amounts remain in effect: Institution Type Public Universities, Health-Related Institutions, and State Colleges Public Community Colleges Public Technical Colleges Maximum Year Maximum Term Target Year Target Term $8,000 $4,000 $5,000 $2,500 $2,700 $1,350 $1,325 $663 $4,700 $2,350 $2,500 $1,250 4 Effective beginning 2015/16: Maximum Time Frame Hour Limitation: • • • • Currently – 150 SCH’s attempted while receiving a TEXAS Grant Beginning 2015-16 – 150 attempted hours toward degree No grandfathering PJ authority for hardships added to allow greater than 150 attempted SCH’s, but no more than: • 150 SCH’s attempted while receiving the grant for HS graduate IY recipients • 90 SCH’s attempted while receiving the grant for AD IY recipients 5 Effective beginning 2014-15: EFC maximum for IY awards = $4,800 Award amounts must be prorated in relation to the student’s enrollment status as of the census date • • • • 12 hours or more – 100% of maximum award 9 to 11 hours – 75% of maximum award 6 to 8 hours – 50% of maximum award < 6 hours – 0% (unless granted an award under the hardship provisions or due to < 6 hours remaining of the 75 SCH limit – at which time the appropriate proration schedule would apply) 6 Prorated maximum award amounts: Institution Type Award Maximum Per Year Public State Colleges Public Community Colleges Public Technical Colleges $8,000 Award Maximum Per Semester Based on Census Date Enrollment Full-Time ThreeHalf< Half(12 or Quarter Time Time more Time (6-8 (1-5 SCH’s) (9-11 SCH’s) SCH’s) SCH’s) $4,000 $3,000 $2,000 $0 $2,700 $1,350 $1,013 $675 $0 $4,700 $2,350 $1,763 $1,175 $0 7 Effective beginning 2015-16: Maximum Time Frame Hour Limitation: • • • • Currently – 75 attempted hours while receiving the grant Beginning 2015-16 – 75 attempted hours toward degree No grandfathering PJ authority for hardships added to allow greater than 75 attempted SCH’s, but no more than 75 SCH’s attempted while receiving the grant 8 Nothing new to report at this time. Questions? 9 Deferred Action for Childhood Arrivals (DACA) Department of Homeland Security (DHS) exercises its prosecutorial discretion to forego immigration enforcement against certain individuals for a specified period of time – may be renewed or terminated DACA does not confer lawful immigration status, nor does it provide a pathway to citizenship DACA recipients may be eligible for work authorization, to apply for SSN’s, and possibly to obtain a driver’s license DACA recipients may be able to work under TCWS if otherwise eligible 10 Effective beginning 2014-15: New origination fee structure based on the highest credit score of the student or cosigner: Prior to 2014-15 Beginning 2014-15 Credit Score VantageScore ≥ 700 VantageScore ≥ 591 Origination Fee Borrower OR Cosigner Approved – 5% Borrower OR Cosigner Score Tier Rate ≥ 711 651-710 591-650 ≤ 590 A B C N/A 0% 3% 5% Denied ___________________________________________________________________________ Borrower AND Cosigner Approved – 3% Interest rate will continue to be a simple fixed rate of 5.25% 11 Effective beginning 2014-15: Institutions will have until March 15th, or the first working day thereafter, to encumber funds As of this date, institutions will lose claim to any unspent funds not yet reserved for students Funds released will be available for reallocations to other institutions Reallocation method will be the same as the initial allocation method 12 Any unencumbered FY14 funds have been carried forward and added to the FY15 allocations Updated allocations are posted to www.HHLoans.com under the institution’s link LPO questions should be directed to: • [email protected] or 512.427.6352 • [email protected] or 512.427.6585 13 SB1210 added requirements for continuation awards: Requirement Minimum GPA (GPA from Financial Aid SAP Policy) Limitation of Eligibility (Excess Hours – TEC 54.014) Programs Residency Classification Level Exemptions and Waivers Residents and Nonresidents Undergraduates and Graduates All Levels Exemptions Only Residents Only Undergraduates Undergraduate Only Levels Only Allows for certain program exceptions to these requirements – reference document available on the GSP Information Site at https://www1.thecb.state.tx.us/apps/SpecialPrograms/ under the ‘references and forms’ section 14 New system functionality to access the TEXAS Grant and TEOG databases and payment processes: Effective September 15, 2014 Institution Master (IM) Other Institutional Users For assistance, contact: • 4-year institutions ([email protected] or 512.427.6332) • 2-year institutions ([email protected] or 512.427.6554) 15 SB215 requires negotiated rulemaking to determine the allocation process for those programs with allocations: Consensus was reached for TEXAS Grant, TCWS, and BOT Consensus was not reached for TEOG • The CB has proposed rules for adoption in January – currently posted to the Texas Register Institutions will be given 10 days to review draft allocation numbers before they become final – a chance to confirm the data used for the calculations correctly reflect the numbers submitted to the CB 16 FADB Required field for the 9-month EFC Edits regarding the matching of SSN’s to the CBM001 were changed from errors to warnings – except for students identified as affidavit students which must be matched before certification EOY FY14 – TEXAS Grant priority model confirmation added FY15 – TEXAS Grant transfer IY avenue confirmation will be added FY15 – TEXAS Grant and TEOG 9-month EFC field will be added 17 Lyn Wheeler Kinyon [email protected] (512) 427-6393 or (800) 242-3062 x6393 GSP Generic Email [email protected] GSP Information Site https://www1.thecb.state.tx.us/apps/SpecialPrograms/ GSP Distribution List http://lists.state.tx.us/mailman/listinfo/txgnsp-l 18
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