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KASFAA Spring 2007 Conference Holiday Inn, University Plaza Bowling Green Blake Tanner COO

KASFAA Spring 2007 Conference Holiday Inn, University Plaza Bowling Green Blake Tanner COO. A Reminder of Who We Are…. KHEAA and SLP are self-supporting entities, created by State Government.

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KASFAA Spring 2007 Conference Holiday Inn, University Plaza Bowling Green Blake Tanner COO

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  1. KASFAA Spring 2007 Conference Holiday Inn, University Plaza Bowling Green Blake Tanner COO

  2. A Reminder of Who We Are… • KHEAA and SLP are self-supporting entities, created by State Government. • Our mission is to provide information about higher education opportunities and administer FFEL and state student aid programs. • We reinvest any revenue in Kentucky students through our loan programs. Kentucky students are our stockholders! • We are non-profit, but we must generate revenue to support operations and administrative expenses. • We partner with you, the front-line financial aid professionals, in all that we do. • You and I, as financial aid professionals, have recently taken several cheap shots in the media that have had a spill-over effect in congressional committee rooms. • In spite of outside forces, serving students remains our number one concern.

  3. KHEAA Continues to Spread the Word…

  4. KHEAA-administered State Programs • Kentucky Educational Excellence Scholarship (KEES) • College Access Program (CAP) Grant • Kentucky Tuition Grant (KTG) • Teacher Scholarship • Osteopathic Medicine Scholarship • Kentucky National Guard Tuition Award • Early Childhood Development Scholarship • Robert C. Byrd Honors Scholarship • Mary Jo Young Scholarship • KHEAA Work-Study Program • Kentucky’s Affordable Prepaid Tuition • Kentucky Education Savings Plan Trust • GoHigher Grant Program (New)

  5. New GoHigher Grant Program • New need-based grant for adults • Awards up to $1,000 for tuition and a book allowance for only one academic year. • Applicants must: • Demonstrate financial need by completing a FAFSA. • Be age 24 or older. • Be Kentucky residents. • Be first-time enrollees, meaning they have never taken college courses before applying for this program. • 2007-2008 academic year is a pilot year.

  6. Student Aid DisbursementsYTD—March 2007 • Original appropriations for grants and scholarships—$188,588,000. • Adjusted appropriations—$191,063,866.

  7. Student Aid • 2007-2008 maximum EFC index for CAP Grant—4110 • 2007-2008 Maximum Award Amounts • CAP—$1,900 • KTG—$3,000.

  8. Loans • KHEAA • Guarantees during this FY to date have exceeded $1 billion with one quarter to go. • Student Loan People • New service for loan customers—Electronic Payment, Information, and Communications (EPIC) • Offers the convenience of online payment and electronic retrieval of statements and correspondence. • New Consolidation e-Sign feature—coming this spring on SLP’s website

  9. KHEAA System Enhancements • Online Default Management System • New default management tools to assist schools in default prevention efforts. • Schools can generate correspondence to any or all of delinquent borrowers. • Service will be available to schools upon request or carried out by KHEAA Default Aversion Branch. • Available soon.

  10. KHEAA System Enhancements • Alternative Loan Services • Centralized point for certification of alternative loans for multiple lenders. • Centralized disbursing for alternative and FFEL loans. • Announcement of availability will be made soon.

  11. KHEAA System Enhancements • Common Record: CommonLine (CRC) • Newest industry standard for loan processing information. • New technology structure. • Must be acceptable with school-based software system. • Available now. We are now in a position to conduct system testing with schools.

  12. KHEAA System Enhancements • Entrance Counseling • School inquiry for entrance and exit counseling. • Single record or by a date range. • Available through Zip Access under the Loan Processing option. • Monitoring entrance counseling requirement. • Disbursement release. • Inclusion with eSignature process. • Available soon.

  13. State Legislation • HB 229—KHEAA legislation relating to teacher scholarships did not pass. • HB 128—Expands the eligibility for education benefits for family members of deceased or disabled veterans.

  14. Federal Legislation • College Student Relief Act (H.R. 5) • President’s FY 2008 Budget Proposal • Student Debt Relief Act (S. 359) • Student Aid Reward (STAR) Act • Pell Grant Equity Act (H.R. 990) • Student Loan Sunshine Act (S. 486)

  15. Congressional Visits • Senator Mitch McConnell • Senator Jim Bunning • Representative Ed Whitfield • Representative Ron Lewis • Representative John Yarmuth • Representative Geoff Davis • Representative Hal Rogers • Representative Ben Chandler

  16. Tell the Student Aid Story • College presidents • Other campus administrators • Regional education officials • State legislators

  17. Borrower Benefits • Board adopted financial policy reaffirming KHEAA/SLP commitment to reinvest revenue in Kentucky students through borrower benefits. • Specialty benefits for Consolidation Loans and parents PLUS Loans modified.

  18. Center for Rural Development • Trainings • May 8, 2007 – Awarding Aid • June 12, 2007 – Disbursing Aid • July 10, 2007 – Leadership Skills – Secrets from Santa Claus • August 14, 2007 – Generational Differences • September 11, 2007 – Effectively Marketing College Access to Teens • October 9, 2007 – Coping with Difficult People • Entrance and Exit Counseling DVD • Being considered.

  19. Staff Changes • New Positions • Tom Wantuck—Senior Vice President of Asset Management • Matt Korn—Senior Vice President for Finance and Accounting • David Carlsen—Vice President of Financial Management • Linda Sewell—Vice President of Human Resources • Jill Carney—Originations and Disbursement Services Branch Manager • Retirement • Linda Renschler—Director of Student and Administrative Services. Her last day in the office was April 6. Matt Korn Tom Wantuck Linda Sewell David Carlsen Jill Carney Linda Renschler

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