Session 43

Financial Aid For

Technical Staff

Wood Mason
Session 43

Al Beeouttahere
But First…

It’s Picture Time!

3
Session 43

Send $50 cash to…

Al Beeouttahere
555 East West Ave
Algernona, GA 67890
In a Nutshell…

• Student applies
• ED calculates EFC
• School determines aid
offered

6
History…

• Harvard University
–May 9, 1643
•Lady Ann Radcliffe Mowlson endowed
Harvard’s first scholarship fund
– 1840
•Harvard’s first loan program

7
History…

• Peabody Education Fund

–1867
–$2 million dollars over 30
years

8
History…

• 1867
–U.S. Department of Education

• 1979
–cabinet level post

9
History…

• National Youth Administration

–1935
–FDR “New Deal” program
–can you say Tech School?

10
History…

• 1944 - Serviceman’s
Readjustment Act

• 1952 - Veteran’s Readjustment

Assistance Act

11
History…
• 1950’s
–Nat’l Defense Education Act of
1958
•Nat’l Defense Student Loan
Program (morphed into Perkins
Loan Program)

12
History…
• Higher Education Act of 1965

–Guaranteed Student Loan Program

–Educational Opportunity Grant

13
History…
• Higher Education Reconciliation
Act of 2005
–ACG/National SMART awards
–GRAD/Professional Student PLUS
borrowers

14
Application

• FAFSA
–Free Application for
Federal Student Aid

15
 Application
Students *

Central Processing System

Schools SAIG
(CPS)

EFC Calc DB Matches

*FOTW – FAFSA on the web NOTE: All COD interfaces routed through EAI
except DCS.

16
Application

• Aid Eligibility/Determination
–CPS
•Central Processing System
– EFC
•Expected Family Contribution

17
Awarding

COA (Cost of Attendance)

– EFC
NEED

18
Awarding
• Grants
–Pell Grant
–ACG (Academic Competitiveness
Grant)
–National SMART Grant (National
Science and Mathematics Access to
Retain Talent Grant)

19
Awarding

• Campus Based Programs

– FSEOG
•Federal Supplemental Educational
Opportunity Grant
– FWS
•Federal-Work Study Program
–Perkins Loan Program

20
Awarding
• Loan Programs
–William D. Ford Federal Student
Direct Loan Program
–Federal Family Education Loan
Program
–alternative loans

21
Awarding

• School Aid
–scholarships
–grants

22
The COD Boogie
Post
Secondary Central Debt Student
Education Processing Collection Data
Participant System Services Storage
System (CPS) (DCS) (NSLDS)
(PEPS)
School
Eligibility Student
Student
Data Pell Student
Applicant Student
Payment Level Grant Level
Data Direct Loan
Data Data
Data
ACG, SMART, Direct Loan
and Pell Origination,
Change and Disbursement Common Origination &
data Disbursement (COD)
Loan
Transaction Servicing
Schools SAIG Processing
Web Reports
System
Loan Bookings & (DLSS)
Customer Applicant Disbursements
Batch and web- Service Center Services
generated Responses

Funding
Transactions
Payment Payment
Transactions Transactions
FMSS /
GAPS
Drawdowns
Financial
Mgt
System
(FMS)

23
24
 The COD Boogie
Central Student
Processing Data

ACG, SMART, Direct Loan and

System Storage
(CPS) (NSLDS)

Pell Origination, Change and

Disbursement data
Common Origination &
Disbursement (COD)

Transaction
Schools SAIG Processing
Web Reports

Customer Applicant
Service Center Services

Drawdowns Batch and web

generated Responses
GAPS

25
Processing – COD

• Common Origination &

Disbursement (COD)
–Pell
–ACG
–National SMART Grant
–Direct Loans

26
Processing - COD

• Common Record
• Response

27
The Award Year

• July 1, 2007 – June 30, 2008

–applications
–awarding

28
The Award Year
• Summer term
–program year closeout for loans
(prior award year)
–applications
–awarding
–header/trailer

29
The Award Year
•Fall PEAK
–traditionally chaotic
–registration and start
–Grant year-end reconciliation and
closeout

30
The Award Year
•Spring PEAK
–registration and start of classes
–transfers
–grant global jobs
–applications/awarding for NEXT
award year

31
32
The Next Award Year

• Program changes
–rules
–regulations
–requirements
–edits
–dollars and data

33
The Next Award Year

• IT changes
–all of it...
•CPS
•COD
•any other system that touches your
school

34
Talkin’ the talk…

• COD Tech Ref

–glossary
–IFAP.ed.gov
•Information for Student Aid
Professionals

35
Talkin’ the talk…

• ACA
–Administrative Cost Allowance
• POP
–Potential Overaward Process
• MRR
–Multiple Reporting Record

36
Talkin’ the talk…
• SRC
–School Relations Center
•COD customer service center in Niagara
Falls, NY
• CSR
–Customer service representative

37
Talkin’ the talk...
• GAPS
–Grants Administration and
Payment System
•from whence all moneys come
•funding method
–Advance Pay
–Pushed Cash

38
Talkin’ the talk...
• NSLDS
–National Student Loan Database
System
• FAA Access Online

39
Talkin’ the talk...
• CPS
–Central Processing System
• SAIG
– Student Aid Internet Gateway

40
The Care & Feeding of your
FA Colleagues

“Could you use a little more

scheduled time on the box, or
maybe some additional
bandwidth for transmitting”

41
The Care & Feeding of Your
FA Colleagues

“Enrolled your transfer students in

NSLDS’ transfer monitoring and
alert activity? I’d hate to see you
spend precious time dealing with a
POP’d student during Spring Peak”

42
The Care & Feeding of Your
FA Colleagues

• And finally...

43
The Care & Feeding of Your
FA Colleagues

”Silly computer system! Really,

it’s not your fault. I’ll get the
back-up CD and you’ll be up
and running in no time”

44
45
Questions?
I appreciate your feedback and
comments. I can be reached at:

Name: Wood Mason

Phone: 404.562.6270
Email: wood.mason@ed.gov

46