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Apollo Federal Relations. CAAHE - Financial Aid in Changing Times. Bob Collins, VP Student Financial Aid Indianapolis, IN June 11, 2010. Higher Education Policy. Authorizing vs. Appropriating language Master Calendar concept Final Rules by November 1 effective July 1

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caahe financial aid in changing times

Apollo Federal Relations

CAAHE - Financial Aid in Changing Times

Bob Collins, VP Student Financial Aid Indianapolis, IN June 11, 2010

higher education policy
Higher Education Policy
  • Authorizing vs. Appropriating language
  • Master Calendar concept
    • Final Rules by November 1 effective July 1
  • Regional Hearings
  • Negotiated Rulemaking
  • Notice of Proposed Rulemaking comments
  • Federal Register published
title iv student assistance
Title IV Student Assistance
  • HEOA increased Pell Authorization Level
    • $6,000 in 2009-2010
    • $8,000 in 2014-2015
  • 18-semester limit on Pell Grants
  • Health Care-Education Reconciliation Act
    • FFELP eliminated
    • Direct Loans exclusive - July 2010
    • Pell funding $5,550 in 2010-2011-2012-2013
reporting and disclosures
Reporting and Disclosures
  • HEOA adds 110 reporting and record-keeping requirements, including:
    • Transfer of credit policy
    • Distance learner authentication
    • Campus security and student safety
    • Textbook information
    • College tuition reporting (Net Price Calc)
  • College Navigator website
    • http://nces.ed.gov/collegenavigator
cohort default rate
Cohort Default Rate
  • Changes from a two-year to a three-year window beginning with FY2009
  • Increases minimum 3 consecutive year threshold for participating in Title IV programs from 25% to 30% for FY2012
  • Changes threshold rate from 10% to 15% for delayed delivery and single-term multiple disbursements beginning 10/1/11
cohort default rate calculation
FY2009 CDR using Current Calculation

Borrowers entering repayment between 10/1/08 and 9/30/09 and who default on or before 9/30/10

Borrowers entering repayment between 10/1/08 and 9/30/09

FY2009 CDR using Revised Calculation

Borrowers entering repayment between 10/1/08 and 9/30/09 and who default on or before 9/30/11

Borrowers entering repayment between 10/1/08 and 9/30/09

Cohort Default Rate Calculation
on the regulatory horizon
On the Regulatory Horizon
  • Negotiated Rulemaking
    • Foreign School Issues (medical schools focus)
    • Program Integrity Issues
      • Definition of a high school diploma
      • Ability to Benefit (ATB)
      • Misrepresentation of information provided to students and prospective students
      • Incentive compensation
      • State authorization as a component of institutional eligibility
on the regulatory horizon1
On the Regulatory Horizon
  • Program Integrity Issues (cont’d)
      • Gainful employment in a recognized occupation
      • Definition of a credit hour for purposes of determining program eligibility status
      • Agreements between institutions
      • Verification of information included on student aid applications
      • Satisfactory Academic Progress
      • Retaking coursework
      • R2T4 (two issues)
      • Disbursement timelines and method
regulation timeline
Regulation Timeline
  • NPRM to be published in coming days
    • Preamble language provides context
  • Public comment period 30-60 days
    • Public record
  • ED analysis of comments 60-90 days
    • All comments reviewed and addressed
  • Final regulation on or before November 1
    • Preamble language discusses changes
  • Final regulations effective July 1, 2011
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