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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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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
Allied Health and Other Fields
Default Rates and FLSR
Account called every five days until default
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.
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
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.
Easy for the student to use
Bill Flook, Senior Manager of Program Administration
Bob Lahl, Manager of IT Planning & Administration
Georgia Student Finance Commission
To accelerate progress toward earning a high school diploma and college degree.
For Winter/Spring 2005:
(pp. 3-5) and submits entire application to high school.
technical certificate or diploma program, but
may receive the HOPE Grant.
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.
Example of how hours are counted
AWARDING and INVOICING
AWARD AMOUNTS AT PUBLIC COLLEGES:
AWARD AMOUNTS AT PRIVATE COLLEGES:
- $1,500 per semester; or
- $1,000 per quarter.
- $125 per semester hour; or
- $84 per quarter hour.
What are YOURquestions?
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?
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.”
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?
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.
Mr. Price calls to find out how his daughter can receive her book allowance from Accel.
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.
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 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.
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?
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.
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?
Effective January 2005, students at eligible private high schools will be able to receive Accel at an eligible public or private college.
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?
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.
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?
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).
State Department of Audits determined
that our system did not provide
necessary accounting controls over
HOPE funds and recommended
establishing an invoice system.