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Georgia Student Finance Commission March 2005 Conference. AGENDA. GSFC Origination Services Session GSFC State Grants and Scholarships Session GAcollege411 Session Questions & Answers Session. GSFC Origination Services Session. Tracy Ireland, Senior Manager of Originations Services

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agenda
AGENDA
  • GSFC Origination Services Session
  • GSFC State Grants and Scholarships Session
  • GAcollege411 Session
  • Questions & Answers Session
gsfc origination services session

GSFC Origination Services Session

Tracy Ireland, Senior Manager of Originations Services

Richard Hanson, Senior Manager of

Collections and Claims

Donna Hall, Senior Manager of Customer Relations

Georgia Student Finance Commission

March 2005

topics of discussion
Topics of Discussion
  • GSFC Loan Products
  • GSFC Origination Services
  • GSFC Service Cancelable Loan Program
  • GSFC Guaranty Services
  • Collections Operations
  • Mapping Your Future
gsfc loan products
GSFC Loan Products
  • Participant in the Federal Family Education Loan Program
    • Federal Stafford Loan Program
    • Federal Parent Loan for Undergraduate Students (PLUS) Program
    • Federal Consolidation Loan Program
  • Offers alternative and service cancelable loans
gsfc loan products continued
GSFC Loan Products Continued
  • Federal Stafford Loans
    • Origination Fee of 1.75%
    • When borrower enters repayment, they will receive a .35% interest rate reduction for enrolling in GSFC’s auto debit program.
    • After 48 on-time payments, borrower will receive a 2% interest rate reduction.
gsfc loan products continued1
GSFC Loan Products Continued
  • Federal Parent Loan for Undergraduate (PLUS) Students
    • When loan enters repayment, borrower will receive a 1.25% principal credit on the balance of the loan.
    • If the borrower enrolls in GSFC’s auto debit program, they will receive a .35% interest rate reduction
    • After 48 on-time payments, borrower will receive a 2% interest rate reduction.
gsfc loan products continued2
GSFC Loan Products Continued
  • Federal Consolidation Loans
    • Offer the borrower the opportunity to consolidate all outstanding loans into one loan.
    • Borrower must have at least $7500 in outstanding loans.
    • Borrower will receive a .35% interest rate reduction for enrolling in GSFC’s auto debit program.
gsfc loan products continued3
GSFC Loan Products Continued
  • Alternative loans
    • Cover more of the cost of going to college
    • Competitive rates
    • Flexible approval guidelines
    • Currently non school certifiable
  • New “alternative” offerings
    • School certifiable products
    • Greater flexibility
gsfc origination services specialized
GSFC Origination Services: Specialized
  • GAcollege411.org
  • High School outreach
  • Expanded entrance/exit counseling
  • Financial aid awareness fairs
  • Printing for Financial Aid offices
  • Technical/back office streamlining
  • Financial aid counseling
  • Supplemental staffing to FAOs
  • Training on GSFC systems and services
gsfc origination services flexible advanced processing options
GSFC Origination Services:Flexible Advanced Processing Options
  • Real Time Loan Guaranty and Response
  • ScholarNet
  • NelNet
  • ELM Resources
  • FASTLoans
  • FASTPLUS
  • PLUS Pre-Approval
  • Disbursement / refund options
gsfc origination services single source partners
GSFC Origination Services:Single Source Partners
  • Single entity that can process loans for any of our 21 partner lenders
  • Offers a single point of contact for schools, borrowers, and lenders regarding loan status
  • Collect and process promissory notes – utilizing e-signature or paper promissory notes
  • Allows the school to receive one disbursement roster for all lenders
gsfc origination services single source partners1
GSFC Origination Services:Single Source Partners
  • Dedicated School Relations Specialist for each school – 14 years average experience
  • Dedicated Processing Staff for promissory notes – average processing time is 24 hours
  • School can receive funds within 48 hours of all information being received
gsfc origination services coming soon
GSFC Origination Services:Coming Soon
  • Real Time PLUS Pre approval Email Notification for FAST Products
  • Online Award Notifications
  • Integrated Entrance/Exit Counseling
  • Improved lender communications and business processes
  • Application Standardization
gsfc service cancelable loan scl program overview
GSFC Service Cancelable Loan (SCL) Program Overview
  • Purpose and Benefits
  • SCL Program Description
    • Who is eligible
    • How is the obligation repaid
  • Critical Shortage Fields
  • Determining Critical Shortage Fields
scl purpose and benefits
SCL Purpose and Benefits
  • Increases quantity of workforce in critical professions
  • Attracts applicants in specific professions
  • Improves quality of workforce
  • Promotes job retention in Georgia
scl program description eligibility
SCL Program Description-Eligibility
  • Residency
  • Citizenship
  • Academic Requirements
  • Other Standard Financial Aid Requirements
scl program description repayment
SCL Program Description-Repayment

Service Repay

  • Student must graduate with a degree or certificate in the field for which they were funded
  • Graduates must work full time in the field for which they were funded
  • Service credit is awarded for each year of employment
  • How does GSFC know:
    • If the student obtained a degree
    • If the student is working in field
scl program description repayment1
SCL Program Description-Repayment

Trouble Spots

  • Unemployment
  • Active Military Duty
  • Enrollment
  • Disability
  • Death
scl program description repayment2
SCL Program Description-Repayment

Service Default

  • Loans enter cash repay if student fails to work as outlined in the critical shortage field
  • Repayment of the full amount less any service credit earned
  • Payment will include principal and interest.
  • Interest rates vary by program
  • GSFC works with borrowers to establish repay schedules
current critical shortage fields
Current Critical Shortage Fields
  • Allied Health Related Professions
    • Stafford Loan with Service Option
  • ICAPP
  • Nursing
  • Teaching
    • Promise, HOPE Teacher, Promise II
  • Military
    • Georgia National Guard
    • North Georgia College
    • Georgia Military College
  • Scholarship for Engineering Education (SEE)
  • Agriculture Education
determining critical shortage fields
Determining Critical Shortage Fields

Teaching

  • Georgia public schools are surveyed annually by the Department of Education
  • Positions with 5% vacancy rate and adequate number of vacancies are identified
determining critical shortage fields cont
Determining Critical Shortage Fields (Cont)

Allied Health and Other Fields

  • Feedback and input from multiple sources:
    • Department of Human Resources
    • Georgia Hospital Association
    • Department of Labor
    • Georgia Postsecondary Schools
    • Legislators
  • GSFC Team researches and makes recommendations to GSFC Board
scl the future proposed methods
SCL The Future-Proposed Methods
  • Annual review of states workforce needs
    • Alignment with Georgia’s strategic needs
    • 500 new Social Worker Positions
  • Teaching and Nursing on list for foreseeable future
  • GSFC presents recommendations at the August Board Meeting
  • GSFC presents shortage fields to Governor with budget submission
  • GSFC Board has proactive role
gsfc guaranty services
GSFC Guaranty Services
  • GHEAC is the guaranty division of the Georgia Student Finance Commission
    • More than $2 billion outstanding
  • For the 2005-2006 academic year, GHEAC will again waive the guaranty fee
    • Saves students 1% of the loan upfront
    • Saves students $2 million
    • Since 1999 saved students > $12 million
gsfc guaranty services1
GSFC Guaranty Services
  • Localized training, either at our offices in Tucker, or locations throughout Georgia
  • Default Prevention Program
    • Peer financial counseling
    • Partner in Chat Night
    • Partnerships to encourage responsible borrowing
  • Default prevention coordinator
  • Referrals to consumer credit counseling services
  • Graduating seniors statement of account
gsfc guaranty services2
GSFC Guaranty Services

Default Aversion

  • Calls and letters to past due borrowers
  • Information on deferments and forbearances
  • Delinquent borrowers reports
  • Only GSFC programs
    • State tax offset
    • Professional licensing
    • Lottery winnings
gsfc guaranty services3
GSFC Guaranty Services

Default Rates and FLSR

  • GHEAC’s default rate spiked
    • Expanded default aversion/prevention
    • Expanded collection efforts
  • FY 2003 4th largest rehab program in US
    • Borrower cleans up credit in 12 months
    • Over $9 million rehabilitated in FY2003
  • FLSR health
    • GHEAC is number 8 in US
collections operations
Collections Operations
  • How Default Rates affect you.
  • How you can help.
    • Stress importance of repaying loans in a timely manner
    • Advise students that there are programs available for them if they are not able to make payments on their loans.
    • Advise students of the GSFC website.
    • Gather forwarding address, phone number and e-mail information
  • We are here to help our borrowers. If they are having difficulty meeting their obligations they need to contact us, not avoid us.
collections operations1
Collections Operations
  • Flow of an account through delinquency to default
    • 15 days delinquent: Reminder Letter sent to borrower
    • 30 days delinquent: First collection letter
    • 35 days delinquent: Account loaded into the auto dialer.

Account called every five days until default

    • 60 days delinquent: Second collection letter
    • 90 days delinquent: Third collection letter
    • 120 days delinquent: Demand letter
    • 180 days delinquent: Final demand letter
collections operations2
Collections Operations
  • Deferments and Forbearances – There are numerous programs available to borrowers that find it difficult, if not impossible to meet their loan obligations.
    • Unemployment
    • Financial Hardship
    • In-School
    • Military
    • Medical Residency
collections operations3
Collections Operations
  • Role of Default Aversion – Assist in the collection effort
    • Lender may refer accounts to Default Aversion between 60 and 120 days delinquent.
    • Default Aversion unit will send letters and call the borrower until the account is brought current or defaults.
    • Default Aversion does not collect, they counsel borrowers.
collections operations4
Collections Operations
  • Collections does not stop after default
  • Post Default Collections unit manages the collection effort after default.
    • Third party collection agencies are utilized to collect the debt.
    • Collection fees of 25 percent are added to the account balance.
    • Tax Offsets
    • Administrative Wage Garnishments
    • Professional License Suspension
collections operations5
Collections Operations
  • Bankruptcy does not get rid of your student loan obligation.
    • Bankruptcy will wipe out or lower many types of debt, but a student loan is exempt from bankruptcy proceedings. Thus, filing bankruptcy to eliminate your student debt will not work, it will only ruin your credit.
collections operations6
Collections Operations

ALTERNATIVE COLLECTIONS:

FEDERAL TREASURY OFFSET – Treasury offset certification occurs due to a gap in payment of at least 60 days. Certification enables the recovery of any federal proceeds due to the borrower. (i.e. tax refund, social security benefits)

STATE REVENUE OFFSET – The default status with the state guarantor qualifies the borrower for potential offset of state revenue funds due. It does not matter whether they are paying or not. No gap in payment has to exist.

collections operations7
Collections Operations

ALTERNATIVE COLLECTIONS (cont.):

GEORGIA LOTTERY WINNINGS – Comparable to state offset, the mere

existence of a defaulted student loan with the state guarantor qualifies the

borrower for potential offset of lottery winnings.

ADMINISTRATIVE WAGE GARNISHMENT – A non-court imposed

process may be initiated to garnish borrower wages. The collection agencies

that represent the guarantor have flexibility in establishment garnishment

policy. The timing of this action being initiated may vary from agency to

agency.

collections operations8
Collections Operations

ALTERNATIVE COLLECTIONS(cont.):

PROFESSIONAL LICENSING PROGRAM – The guarantor does a monthly match with various licensing entities to obtain current address information and to identify license holders with a gap in payment of at least 60 days. The potential for loss of license encourages the borrower to bring the account current or to start making payments.

All of these programs work together in an effort to maximize recovery and to resolve the default.

collections operations9
Collections Operations
  • COLLECTION AGENCIES:
  • The Georgia Student Finance Commission no longer performs in-house collections on it’s default portfolio. All accounts are outsourced to third-party collection agencies.
  • List of Active Agencies:
  • General Revenue Corporation
  • OSI Outsourcing
  • Collection Technology Inc.
  • Risk Management Alternatives
  • GC Services
  • Pioneer Credit Recovery
  • Premiere Credit
collections operations10
Collections Operations
  • COMMON BORROWER ISSUES:
  • REINSTATEMENT OF ELIGIBILITY
  • PAID IN FULL LETTER REQUESTS
  • LOAN CONSOLIDATION STATUS
  •  LOAN REHABILITATION STATUS
  •  CREDIT BUREAU REPORTING
    • Confusion between lender reporting and guarantor reporting
    • Lender reports I-5 and delinquency
    • Guarantor reports I-9 and balance
    • GSFC has implemented use of E-OSCAR reporting to the credit bureaus.
what we ll cover today
What We’ll Cover Today
  • Entrance Counseling
  • Exit Counseling
  • Reporting / Confirmation Options
  • OSLC e-news
    • School
    • Students
  • Other Services
why use myf for online counseling
Why Use MYF for Online Counseling?

Easy for the student to use

  • Entrance and Exit counseling
    • Supports Stafford & Perkins
  • Spanish available for Stafford
why use myf for online counseling1
Why Use MYF for Online Counseling?
  • Benefits the school
    • Fulfills a federal requirement
    • Easy to Customize
    • Online service to compliment, or replace, counseling provided by a Financial Aid Office staff member
    • Eliminate postage costs by eliminating the mailing of exit counseling packets (estimating staff costs only, MYF saved schools more than $25 million dollars in FY2003)
why use myf for online counseling2
Why Use MYF for Online Counseling?
  • Provide a service to our schools at a fraction of the cost of other methods
  • Leverage technology by taking advantage of the services offered by Mapping Your Future as well as sharing of ideas among sponsoring agencies
  • Enhance default prevention efforts with the many features offered on Mapping Your Future and through ExitExpress
confirmations
Confirmations
  • Download your confirmationsExport them, if you’d like!
    • By date (or date range)
    • By confirmation number
    • Search on student name or SSN
  • Receive E-mail confirmations
  • Print confirmation reports
exitexpress
ExitExpress
  • Guaranty agencies retrieve exit data on behalf of school
    • Increases security of exit data
    • More efficient information-sharing process
    • Aids default prevention efforts (more accurate and up-to-date information)
  • Save schools time and money
exitexpress1
ExitExpress
  • Schools should verify that guarantor retrieved data
    • Guarantor Exception Report
      • Manually send data that the guarantor didn’t retrieve (satisfy requirement to send data to guarantor within 60 days)
      • Add guarantor if none selected
    • Guarantor Rejection Report
      • Verify SSN
      • Add correct guarantor
      • Manually send data that the guarantor didn’t retrieve
oslc e news
OSLC e-news
  • News you can use
    • Updates to Online Student Loan Counseling products
    • Regulatory requirements for loan counseling
    • Other new products and services
  • News your students can use
    • Upcoming chat events
    • New information for students and families
other mapping your future resources
Other Mapping Your Future Resources
  • Personal finance tips and tools
  • Calculators
    • Loan Calculators
    • Budget Calculators
    • Consolidation Calculators
  • Loan Wizard
  • Deferment Navigator
  • Loan Cancellation, Forgiveness & Discharge Chart
future enhancements
Future Enhancements
  • User passwords will be prompted to change on a regular schedule
  • School Administrator will be able to set access for individual users
  • Link to Meteor will provide information for all loans at Exit Counseling
myf customer service
MYF Customer Service
  • Beth ZiehmerCustomer Care/Operations Specialistbeth.ziehmer@mapping-your-future.org(573) 796-3730
  • CariAnne BehrProject/Team Coordinatorcarianne.behr@mapping-your-future.org(573) 634-8641
slide53
To learn how your School can participate in Entrance and Exit Counseling through Mapping Your Future,Ask a GSFC Account Executive
gsfc state grants and scholarships session

GSFC State Grants and Scholarships Session

Bill Flook, Senior Manager of Program Administration

Bob Lahl, Manager of IT Planning & Administration

Georgia Student Finance Commission

March 2005

accel program topics of discussion
ACCEL PROGRAM TOPICS OF DISCUSSION
  • Program Description
  • Application Process
  • Award Process
accel program purpose of program
ACCEL PROGRAM PURPOSE OF PROGRAM

To accelerate progress toward earning a high school diploma and college degree.

accel program history
ACCEL PROGRAM HISTORY
  • Created by budget line item
  • Governed by GSFC regulation
  • Funded by lottery
  • Expansion of PSO – all high schools eligible
accel program definitions
ACCEL PROGRAM DEFINITIONS
  • For purposes of Accel, “dual credit” means the student is enrolled at the college and the high school, and the college credit earned will be transferred to the high school transcript.
  • For purposes of Accel, “joint enrollment” means the student is enrolled at the college and the high school, but college credits are not transferred to the high school transcript.
accel program application process
ACCEL PROGRAM APPLICATION PROCESS
  • Printable application on GSFC web site (www.gsfc.org) must be completed.
  • Student, parents, high school officials, and college officials should all read pp. 1-2 of the application (instructions).
accel program application process continued
ACCEL PROGRAM APPLICATION PROCESS(continued)

For Winter/Spring 2005:

  • Student completes Part I of Accel application

(pp. 3-5) and submits entire application to high school.

  • High school counselor, registrar, or other appropriate official completes Part II (p. 6.) and submits entire application to postsecondary institution.
  • Postsecondary institution admissions officer, registrar, or other appropriate official completes Part III ( p. 7) and submits entire original application to GSFC and a copy to the Office of Student Financial Aid.
accel program general information
ACCEL PROGRAM GENERAL INFORMATION
  • Full-time enrollment is not required.
  • No minimum credit hours required.
  • The high school must accept the college degree-level coursework and show it on the student’s high school transcript.
  • Courses must be in one of the five CPC areas (English Language Arts, Mathematics, Science, Social Science, Foreign Language).
  • Course Directory is available on GSFC’s Web site (www.gsfc.org).
accel program eligibility requirements
ACCEL PROGRAM ELIGIBILITY REQUIREMENTS
  • Must be classified a legal resident of Georgia.
  • Must meet citizenship requirements.
  • Must meet Selective Service Registration requirements.
  • Must not owe a refund to a State program.
  • Must be in compliance with Georgia’s Drug-Free Postsecondary Education Act of 1990.
accel program eligibility requirements continued
ACCEL PROGRAM ELIGIBILITY REQUIREMENTS(continued)
  • Must have completed all academic requirements of the high school sophomore level.
  • Must be classified as a high school junior or senior.
  • Must not have received a high school diploma or GED.
accel program eligibility requirements continued1
ACCEL PROGRAM ELIGIBILITY REQUIREMENTS(continued)
  • Must be enrolled in a public or private high school that is eligible to participate in the Accel Program as defined by Accel Regulations.
  • Must be approved for dual enrollment by high school officials.
accel program eligibility requirements continued2
ACCEL PROGRAM ELIGIBILITY REQUIREMENTS(continued)
  • Must attend a USG, DTAE, or an eligible private college/university in Georgia.
  • Must be admitted as a dual credit student and enrolled in degree level course work.
  • Students are ineligible for Accel if enrolled in a

technical certificate or diploma program, but

may receive the HOPE Grant.

accel program georgia doe responsibilities
ACCEL PROGRAM GEORGIA DOE RESPONSIBILITIES
  • Annually update the Accel high school Course Directory by February 1.
  • Serve as advisory resource to high school and college officials regarding Accel-eligible high school courses.
accel program high school responsibilities
ACCEL PROGRAM HIGH SCHOOLRESPONSIBILITIES
  • Obtain written consent from parents/legal guardians.
  • Provide written verification of student’s eligibility:
    • Completion of 10th grade requirements; and
    • Good academic standing.
  • Provide high school course(s) and course number(s) on Accel Application.
  • Process and record college dual credit hours toward high school graduation requirements.
accel program college responsibilities
ACCEL PROGRAM COLLEGE RESPONSIBILITIES
  • Annually update the Accel-eligible college degree-level coursework by March 1.
  • Process and transfer credit hours earned by dual credit students to the high schools and other postsecondary institutions.
  • Verify students meet requirements:
    • Georgia residency;
    • Citizenship;
    • Selective Service Registration;
    • Does not owe refund to a State program; and
    • In compliance with Georgia’s Drug-Free Postsecondary Education Act of 1990.
accel program hours limits
ACCEL PROGRAM HOURS LIMITS
  • Awards are restricted to regular academic year.
    • Fall and Spring semesters
    • Fall, Winter, and Spring quarters
  • Neither hours nor grades will be included in the 127 semester/190 quarter Attempted-Hours limit.
  • Hours paid by Accel will be included in the 127 semester/ 190 quarter Combined-Paid-Hours limit, effective Fall 2004.
accel progrm hours limits continued
ACCEL PROGRM HOURS LIMITS(continued)

Scenario: A high school senior is a dual credit student at a local college Fall 2004 (3 sem. hrs.) and Spring 2005 (6 sem. hrs.). Also during Spring 2005, student takes a diploma course (5 qtr. hrs.=3.33 sem. hrs.) at a public technical college. Student graduates as a HOPE Scholar in May 2005. Student attends college outside of GA Fall 2005 and Spring 2006. Student returns to Georgia for college Fall 2006.

accel program hours limits continued
ACCEL PROGRAM HOURS LIMITS(continued)

Example of how hours are counted

slide73

ACCEL PROGRAM

AWARDING and INVOICING

AWARD AMOUNTS AT PUBLIC COLLEGES:

  • Tuition
  • HOPE-approved mandatory fees
  • Book allowance:
    • 6+ hrs. per term = $150 per semester or $100 per quarter.
    • 1 to 5 hrs. per term = $75 per semester or $50 per quarter.
  • No Summer term Accel awards.
accel program awarding and invoicing
ACCEL PROGRAMAWARDING and INVOICING

AWARD AMOUNTS AT PRIVATE COLLEGES:

  • Maximum Award = $3000 per school year.
  • Full-time (12 hours) Awards:

- $1,500 per semester; or

- $1,000 per quarter.

  • Part-time (1 - 11 hours) Awards:

- $125 per semester hour; or

- $84 per quarter hour.

  • No Summer term Accel awards.
accel program awarding and invoicing1
ACCEL PROGRAM AWARDING and INVOICING

Winter/Spring 2005:

  • Paper application is mailed to GSFC for data entry.
  • Online invoices can be sent to GSFC by the college through SURFER (Paper invoice mailed to GSFC is still acceptable).
  • Invoice is processed in one day.
  • Reports available the next day.
accel program refund
ACCEL PROGRAM REFUND
  • A refund is due if a student fails to complete a period of enrollment due to:
    • Withdrawal;
    • Drops out;
    • Drops hours; or
    • Expelled.
  • Accel awards must be adjusted and amount of refund must be determined according to the school’s refund policy.
accel program reconciliation
ACCEL PROGRAM RECONCILIATION
  • End-of-year
  • Student-by-student verification
  • Reconciliation Certification must be submitted by the college by July 1
  • Return unused Accel funds by July 1
accel program
ACCEL PROGRAM

What are YOURquestions?

accel program public situations q a
ACCEL PROGRAM - PUBLICSITUATIONS – Q&A

Mrs. Jones calls to inquire about her daughter’s possible eligibility for Accel. The family members are citizens of Canada; the father is here on a work Visa; daughter here on a student Visa. Last year, the daughter participated in PSO. Is she eligible for Accel?

accel program public situations q a1
ACCEL PROGRAM - PUBLICSITUATIONS – Q&A
  • Answer: No

A student must be a U.S. Citizen or a non-citizen who meets Title IV eligibility requirements. Work Visas and student Visas do not meet the qualification of an “eligible non-citizen.”

slide83

ACCEL PROGRAM - PUBLICSITUATIONS – Q&A

Mrs. Johnson calls asking how Accel will pay for her son’s courses if he participates in Accel? Do we send the money to her so she can pay the college?

accel program public situations q a2
ACCEL PROGRAM - PUBLICSITUATIONS – Q&A
  • Answer: No

GSFC cannot disburse funds directly to students/parents. After the college verifies the student’s eligibility to participate in Accel, the college will invoice GSFC. Then GSFC will send the funds to the college, and the college will apply the funds to the student’s account.

accel program public situations q a3
ACCEL PROGRAM - PUBLICSITUATIONS – Q&A

Mr. Price calls to find out how his daughter can receive her book allowance from Accel.

accel program public situations q a4
ACCEL PROGRAM - PUBLICSITUATIONS – Q&A
  • Answer: Before this question can be answered, more information is needed.

Is the student attending a public institution or a private institution? There is no book allowance for students attending private colleges/universities. If the student is attending a public institution, the parent/student should contact the Student Financial Aid Office at the institution to inquire about the distribution of the book allowance.

accel program public situations q a5
ACCEL PROGRAM - PUBLICSITUATIONS – Q&A

Ms. Hall calls to ask if a student is required to have a minimum high school GPA or minimum SAT score to be eligible to participate in Accel.

accel program public situations q a6
ACCEL PROGRAM - PUBLICSITUATIONS – Q&A
  • Answer: No

Accel does not require a minimum high school GPA or SAT/ACT score for participation. However, the student’s high school or school system may establish a minimum standard. Also, the college may require a minimum standard for admission or participation.

accel program public situations q a7
ACCEL PROGRAM - PUBLICSITUATIONS – Q&A

Sally A. Student calls. Her high school counselor has told her that since she did not participate in Accel during Fall Semester 2004, she cannot participate during Spring 2005. Is this true?

accel program public situations q a8
ACCEL PROGRAM - PUBLICSITUATIONS – Q&A
  • Answer: Maybe

While Accel doesn’t require that a student participate all year, the high school may have determined that the student will not have the required number of units (Carnegie units) for high school graduation if he/she does not participate in dual enrollment during all terms of the academic year.

accel program public situations q a9
ACCEL PROGRAM - PUBLICSITUATIONS – Q&A

Ms. Jenkins’ child (a senior) attends a private high school that is HOPE-eligible. Can her child receive Accel for the term beginning in January 2005?

accel program public situations q a10
ACCEL PROGRAM - PUBLICSITUATIONS – Q&A
  • Answer: Yes

Effective January 2005, students at eligible private high schools will be able to receive Accel at an eligible public or private college.

accel program public situations q a11
ACCEL PROGRAM - PUBLICSITUATIONS – Q&A

Mr. Williams has a son who is a junior in high school. He is interested in the types of courses his son can take at the local college and take advantage of Accel. Is there a Course Directory available?

accel program public situations q a12
ACCEL PROGRAM - PUBLICSITUATIONS – Q&A
  • Answer: Yes

The Course Directory is now available on our Web site and will be updated as more private colleges submit courses for the Directory. High school counselors use the numbers on the left side of the Directory to complete page 6 of the Accel Application. College officials use the corresponding information on the right side of the Directory to complete page 7 of the application.

accel program public situations q a13
ACCEL PROGRAM - PUBLICSITUATIONS – Q&A

Mrs. Hamilton is a Counselor whose student needs to take U.S. History II to fulfill the Social Science requirement needed for graduation. This course is not in the Course Directory. Will Accel pay for the course?

accel program public situations q a14
ACCEL PROGRAM - PUBLICSITUATIONS – Q&A
  • Answer: Yes

Because U.S. History II is a CPC course, the Counselor can list “45.99999 – Social Studies – Other” on p. 6 and write out “must be U.S. History II” as further instruction. The college can then look for the appropriate history course for the student in the Course Directory (i.e., any HIST 1000 level or higher).

hope invoicing topics of discussion
HOPE Invoicing TOPICS OF DISCUSSION
  • Background and Current System
  • HOPE Invoicing Overview
  • Invoicing Update
hope invoicing background
HOPE Invoicing BACKGROUND

State Department of Audits determined

that our system did not provide

necessary accounting controls over

HOPE funds and recommended

establishing an invoice system.

hope invoicing system overview
HOPE Invoicing SYSTEM OVERVIEW
  • Electronic invoices submitted as early as 15 days prior to first day of classes.
  • Invoice lists each student.
  • Public schools invoice includes tuition, fees, and books.
  • Disbursement in two business days.
  • Schools can control disbursements.
  • Supplemental invoices and adjustments submitted anytime during the term.
hope invoicing reconciliation
HOPE Invoicing RECONCILIATION
  • Reconcile by end of each term.
  • Schools can invoice for term after term reconciled.
  • Term reconciliation means school acknowledges GSFC’s disbursement figures.
  • Electronic acknowledgement by FAD.
  • Funds for future terms withheld until term reconciliation is complete.
  • Final year-end reconciliation means invoices equal disbursements.
hope invoicing enhancements
HOPE Invoicing ENHANCEMENTS
  • Ability to import invoice data.
  • e-HOPE return files contain additional data.
  • Electronic Reconciliation file enhanced.
  • Ability to import Invoice Reconciliation file.
  • Moving “all” Upload and Download files to delimited format.
hope invoicing update
HOPE Invoicing UPDATE
  • PRIVATE SCHOOLS
    • 21,716 Invoices
    • $28,692,458.00 disbursed
  • DTAE SCHOOLS
    • 131,711 Invoices
    • $54,923,014.00 disbursed
  • USG SCHOOLS
    • 161,385 Invoices
    • $254,054,548.00 disbursed
hope invoicing other state scholarship grant processing
HOPE Invoicing OTHER STATE SCHOLARSHIP / GRANT PROCESSING
  • Other awards processed using current system
  • Migration to Invoicing currently under development
hope invoicing recap
HOPE Invoicing RECAP
  • Schools use current system for other Scholarship / Grants
  • Schools will invoice before receiving funds
  • Reconciliation at the end of each term (Invoicing)
  • Year end Reconciliation for all programs