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Financial Aid Update. Presented at the 2018 Student Success Sumit. Government Update. Reauthorization – not any time soon! Beware of budget bills! Negotiated Rulemaking (Borrower Defense and Gainful Employment) Additional Negotiated Rulemaking -
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Financial Aid Update Presented at the 2018 Student Success Sumit
Government Update • Reauthorization – not any time soon! • Beware of budget bills! • Negotiated Rulemaking (Borrower Defense and Gainful Employment) • Additional Negotiated Rulemaking - • State Authorization, credit hour, accreditation, TEACH, faith-based entities, innovative learning models, etc. • Not enough oxygen for Higher Education issues in DC
State Update Blue Ribbon Commission College Attainment Rate – 60% Free Community College
2019-20 FAFSA • https://fafsademo.test.ed.gov • Username – eddemo • Password - fafsatest
Pell Grant Maximum $6,095 for academic year Can receive additional for summer term effective July 1, 2017 Minimum EFC is 5,486 Up to 12 full-time semesters
FAFSA Completion Rates • As of April 15, 2017 - 59% • As of April 15, 2018 - 57% • As of June 30, 2017 – 63% • As of June 30, 2018 – 60%
Outreach • Text messaging to seniors • FAFSA Datashare • Screen sharing • CFWV Community Calendar • FATV videos
Outreach Activities Contact Karen Martin at 304-558-4618 to schedule a financial aid night or FAFSA workshop
FAFSA Data Share Signed agreement with the TRIO organization Authorized personnel will upload a CSV file to FAMS First name, last name, birth date, and zip code We will match and disclose back to the authorized personnel which students have a Completed FAFSA, Incomplete FAFSA, or No FAFSA
State Stats 2018-19 3,665 new PROMISE recipients • 10,147 current PROMISE awards • 30,195 students awarded HEGP • 544 HEAPS Workforce students awarded • 271 Engineering, Science & Tech. awards • 135 WV Center for Nursing awards • 37 Underwood-Smith awards
Data • Merit-based scholarship – 94% open rate • Merit-based denial letter – 51% open rate • Need-based grant – 63% open rate • Industry average is 18%
Hi, my name is SAM. I am an artificially intelligent chatbot here to help answer student financial aid questions. How can I help? Go live in October 2018
Verify on FAMS that students have applied by March 1 Private schools – send grade report form Final eligibility is based upon 8th semester grades for students at both public and private
ACT has a July test date July 13, 2019 • SAT school assessment can be used for PROMISE • New ACT/SAT concordance released June 2018 • SAT subscores for PROMISE will change for class of 2019
The maximum award will remain $4,750 • Academic eligibility standards for the 2019 graduating class • 22 ACT Composite with a minimum 20 in each subject area • 1100 SAT Composite with minimum of 530 EBRW and 520 Math • 3.0 overall and core high school grade point average • Final test dates to establish scholarship eligibility will be July 13 for the ACT and June 1 for the SAT • 2019-2020 Free Application for Federal Student Aid (FAFSA) must be filed by March 1, 2019, at www.fafsa.gov • PROMISE Scholarship application must be completed on-line by March 1, 2019 on the College Foundation of West Virginia website,www.cfwv.com
Students need to ensure they use the correct Social Security number • Students will create a username (e-mail), password, and security question. Then they will complete the PROMISE application. • This will allow students to go back and view/edit their PROMISE application and see the status of their application just like counselors can in FAMS • Student will get a confirmation page when they complete the PROMISE application; students retain a copy of the confirmation page • Access to FAMS so you can see your PROMISE applicants (school counselors only)
Must complete half of their graduation requirements at a WV High School Must be a WV resident at least 12 months before applying for PROMISE Students who do not apply by March 1, can still apply and be considered for PROMISE but would not be awarded until spring contingent upon the availability of funds for late awards
Can attend out-of-state for up to 1 year and come back and regain PROMISE if meets eligibility requirements. Cannot be used outside WV. Community service is highly encouraged. Students have 6 years after being awarded to utilize their PROMISE eligibility (military service exception)
To establish academic eligibility students must have: • A 2.0 cumulative high school gpa (confirmed by post-secondary institutions); or • 500 TASC/2250 GED score; or • A 2.0 cumulative college gpa if student has college credit • Renewal students must also complete 24 semester hours or equivalent
The only application students need to complete for the Higher Education Grant is the FAFSA • FAFSA must be first submitted by deadline April 15, 2019 • However, FAFSA needs to be correct by beginning of May to be considered in award cycle
30,195 applicants were offered awards for the 2018-2019 academic year totaling $78.0 million • All students up to a 11,000 EFC on the date we did the award cycle were awarded. • Reserve 5% of funding for non-traditional students for those who apply by July 30
Higher Education Adult Part-Time Student (HEAPS) Grant • Block grant given to public 4-year, public 2-year, private non-profit, and career and vocational centers for their part-time students • $232 a credit hour for 18-19 • Students must be enrolled 3-11 hours to be eligible for HEAPS part-time • Students must have a 2.0 cum gpa and meet SAP
HEAPS Workforce Grant • Application becomes available on July 1; • Contact the college/vocational school for application • Can receive up to $2,000 or tuition and fees • For Certificate or short-term training programs like certified medical training, mining, gaming, etc. • Must file the FAFSA and complete HEAPS application
Engineering, Science and Technology Scholarship • Merit-based scholarship/forgivable loan • March 1 application deadline • 3.0 overall GPA • Enrolled or accepted for enrollment full-time in an engineering, science or technology program (4-yr, 2-yr or certificate) • Maximum annual award amount is $3,000 • Online application at www.cfwv.com becomes available October 1. • Collect high school grade information through Department of Education
Underwood-Smith Teacher Scholarship • Merit-based scholarship/forgivable loan • March 1 application deadline • Must be enrolled as a full-time student in a course leading to certification as a teacher at the pre-k, elementary, middle or secondary level • Must have a 3.25 GPA after completing 2 years of college (due to limited funding, high school applicants are not eligible) • Maximum annual award amount is $5,000
ESTS and Underwood-Smith Program Updates • Applications become available October 1 • Online application on CFWV • March 1st application deadline • Students must apply annually
Underwood-Smith Teacher Loan Assistance • Loan assistance provided to teachers as part of Senate Bill 359 • New online application coming out in August • Teachers can receive up to $3,000 toward their federal student loans in exchange for 2 years of service teaching full-time • Can receive up to $15,000 total
West Virginia Center for Nursing • Scholarships for students going into nursing • Must have completed ½ of their program • Commit to work/teach in WV • For LPN, RN, LPN Teaching Certificate, MSN & Doctoral programs • www.wvcenterfornursing.org or www.cfwv.com • Application is available April 15-June 1 to apply for Fall 2019-Summer 2020