| PublicationDate: 3/19/97 Summary: 1997-98 Process Status: Update #14 Author: OPE - Office of the Assistant Secretary for OPE Date : March 19, 1997 TO : Financial Aid Administrators FROM : Betsy Hicks Deputy Assistant Secretary for Student Financial Aid Programs SUBJECT: 1997-98 Processing Status: Update # 14 This is the 14th message in my series of reports on the status of 1997-98 application processing. I am pleased to report that we have processed more than 2.6 million applications as of last Friday. As is clear from the data below, we have reached the peak in the 1997/98 processing cycle. We have been receiving for the past three weeks between 400,000 and 600,000 applications weekly, and we are processing about that number as well (note that we have processed 557,000 thousand applications since last week's report). I am pleased with our response to this peak in processing volumes: the MDEs and CPS are processing large volumes and staying very close to turn-around times. When there has been a slippage in turn-around times, it has been minor and in the range of one to three days, or very much in line with our experience at peak periods in previous years. There is another happy development to share with you. As of March 16, 1997, we have processed 44,903 1997-98 FAFSA Express applications. While this number is only two percent of total volume processed, last year at this time we had processed only 472 FAFSA Express applications. For all of 1996-97 processing to date, we have processed 65,232 FAFSA Express applications. Use of FAFSA Express is increasing, and as these data show we should receive a far greater number of 1997/98 FAFSA Express applications than the 65,000 we have received for 1996/97. We appreciate all your work to promote its use. . 1997-98 RECEIPTS AND PROCESSING STATISTICS Through Friday, March 14, 1997 A. RECEIPTS (YEAR TO DATE) I. Paper (FAFSAs & Renewals) 2,931,624 II. Electronic Applications - Total 93,193 A. EDExpress Apps & Renewals 48,290 B. FAFSA Express 44,903 III. Paper Corrections 341,631 IV. Electronic Corrections 11,740 ALL RECEIPTS -- GRAND TOTAL 3,378,188 B. NUMBER PROCESSED (YEAR TO DATE)* I. Paper (FAFSAs & Renewals) 2,205,125 (75%) II. Electronic Applications - Total 93,193 (100%) A. EDExpress Apps & Renewals 48,290 (100%) B. FAFSA Express 44,903 (100%) III. Paper Corrections 317,891 (93%) IV. Electronic Corrections 11,740 (100%) ALL PROCESSING - GRAND TOTAL 2,627,949 * The number of applications and corrections processed and reported here are only those transmitted to and accepted by the CPS as of noon on that Friday. You should have received ISIRs for these records by the date of this report. |