PROCESSING FOR 2013-2014
EA – Posted January 25, 2013 – (Campus-Based). Tentative 2013-2014 Funding Levels for the Campus-Based Programs
ED announced that the tentative funding levels for Campus-Based programs for the upcoming award year were available as of February 1, 2013. It is helpful for schools to review the attachment to the announcement that gives an explanation of the calculation of each tentative funding level contained in the worksheet for each program. Important to note is that the tentative funding levels are based upon the 2012-2013 award year appropriations until the outcome of the appropriations for 2013-2014 is known. Institutions were notified by e-mail to the school’s Financial Aid Administrator when the tentative funding levels and worksheets were available on the eCB Web site.
EA – Posted February 1, 2013 – (Application Processing). 2013-2014 Federal School Code List of Participating Schools (February 2013)
The 2013-2014 Federal School Code List of Participating Schools is provided for schools to be able to review the information contained for their own school, as well as to use it as a tool in working with students and other schools in transfer situations. Schools should ensure that their institution’s data is kept current in the listing. Any changes needing to be made to your institution’s information may be completed via the E-App.
EA – Posted February 5, 2013 – (Application Processing). 2013-2014 Free Application for Federal Student Aid (FAFSA)
This EA provides the Financial Aid community with announcement of the final version of the 2013-2014 Free Application for Federal Student Aid (FAFSA). The attachments to the EA allow for the FAFSA to be downloaded in a PDF version in English or Spanish.
EA – Posted March 5, 2013 – (Application Processing). E-Mail Notifications to 2013-2014 Applicants Encouraging Updates to Tax Return Information
Information is provided in this EA regarding ED’s initiation of an e-mail campaign to encourage FAFSA applicants who indicated on their application that they “will file” their tax return to now access their FAFSA information previously submitted and to make corrections to the actual income and tax information reported on the tax return submitted. The schedule for the notices going out was March 15-20, 2013. In early May, the CPS will again send e-mail notifications to anyone whose most recent ISIR transaction still shows “will file”. This second round may include new applicants since March, or prior applicants that received the first notification in March but had not yet made corrections to their data.
EA – Posted March 8, 2013 – (Grants). Operational Implementation Guidance – Federal Student Aid’s Implementation of 2013-2014 Federal Pell Grant Payment and Disbursement Schedules
ED announced that they were updating CPS on March 17, 2013 to use the 2013-2014 Pell Grant payment and disbursement schedules released in DCL GEN-13-06 to calculate Pell Grant eligibility and estimated Pell Grant Scheduled Award amounts for all new 2013-2014 Free Applications for Federal Student Aid (FAFSAs), as well as for corrections to previously-filed FAFSAs. This required a reprocessing of records for a small number of applicants who will now be eligible that were processed prior to March 17. Schools should review this EA to be aware of the small range of students potentially impacted by this change and how you can determine if a particular student was affected.
EA – Posted March 15, 2013 – (COD System). COD System Implementation for 2013-2014 Award Year
Schools are made aware that FSA implemented the COD system functionality for 2013-2014 processing on the weekend of March 22-24, 2013. Important enhancements are highlighted in the attachments to this EA. For example, counseling changes are being made on the StudentLoans.gov Web site. (Schools should review the attachment related to this as crucial changes are made, e.g., exit counseling will now be performed on the StudentLoans.gov site rather than on the NSLDS Student Access Web site.) Also, there is a new e-mail address for COD customer support, and the weekly Pell Grant LEU Report will only be available via Student Aid Internet Gateway (SAIG) mailbox for the 2013-2014 award year and forward (there will not be a Web version of the report for 2013-2014). Schools are reminded that there is no Initial Authorization for the Pell Grant Program for the 2013-2014 award year. Current Funding Levels (CFL) will be based upon actual accepted and posted records submitted to COD. The earliest a school may disburse a Federal Pell Grant with either federal funds or its own funds was January 30, 2013. However, COD was not accepting actual disbursement records for Pell Grant awards until March 23, 2013. For Direct Loans, schools that receive funds under Advanced funding and historically report disbursements prior to July 1 should have received their initial 2013-2014 CFL the week of March 25, 2013. Schools on Heightened Cash Monitoring (HCM1 or HCM2) or Reimbursement will not receive an initial CFL; rather they will receive funding increases based upon actual disbursement records submitted and accepted by COD. It is important that schools read this announcement on COD implementation guidance and its attachments thoroughly. For schools utilizing FAME as its servicer, it is imperative that FAME, as your third party servicer, is notified timely of any change so that we can in turn meet the required 15 day time limits.
EA – Posted March 15, 2013 – (Grants). 2012-2013 Deadline Date Notice – Important Pell Grant Reporting Deadline Change
Click here to see the description under the PROCESSING FOR 2012-2013 section of this Inside Report. Some points in that description are of importance for 2013-2014.