SFA Information for Financial Aid Professionals
U.S. Department of Education
| PublicationDate: 9/1/2000 Summary: Spring 2000 Reauthorization Training: Errata Author: SFA University
TA The list below corrects the green and white cover version of the Participant's Guide for Spring 2000 Reauthorization Training. (That version has no divider tabs.) You may access the complete Guide on Information for Financial Aid Professionals (IFAP). The corrections are as follows: 1) Page 2-10, Second (bottom) Paragraph: Insert the following sentences between the first and second sentences of this paragraph: "You may refer to the Electronic Announcement on IFAP on February 24, 2000. It concerns FAFSA Q#28, Drug Conviction Eligibility Modification for Blank Responses. It provides schools with guidance when their students leave that FAFSA question blank." 2) Page 2-13, Slide 2-18: Replace the text of the first dash (-) point with this wording: "The program consists of the courses required by a state to receive professional certification or licensing credential necessary for employment as a teacher in a elementary or secondary school in that state;" 3) Page 2-13, Slide 2-18, Rewrite the text of the fourth dash (-) point with this wording: "Student is enrolled at least half-time;" 4) Page 2-13, Slide 2-18: Add the following new dash (-) point after the fifth and last dash point on that slide: "and the program must be a post baccalaureate program." 5) Page 2-15, Slide 2-20: Substitute "15" for 10 weeks and "350" for 250 clock hours in the third line of the slide's text. 6) Page 2-15, Slide 2-20: Correct the calculation under the first line of the first bullet so that it reads: 15/30 (=. 50) 350/900 (=. 39). 7) Page 2-15, Slide 2-20: Correct the calculation under the first line of the second bullet so that it reads: $2,625 X .39 = $1,023.75 (prorated max). 8) Page 2-15: Insert this text in the open space between the bottom of Slide 2-20 and the top of Slide 2-21: Schools may choose the decimal [as shown in items 6) and 7)] or the fractional method. They should apply that method consistently throughout the student populations at their institutions in prorating FFEL or Direct Loan amounts. The decimal method generally, if not always, results in an amount that is equal to or slightly higher than the amount calculated using the fractional method." 9) Page 3-36, Slide 3-54: Substitute "School" for "Student" in the second line of the heading for this slide. 10) Page 3-103, Student Profile: Substitute "October 17" for "October 20" in the beginning of the sixth line of the second paragraph. 11) Page 3-103, Student Profile: Delete the entire sentence in parentheses in lines 11 through 13 of the second paragraph: "(Remember, although the student's withdrawal date taken from attendance records is October 19, you weren't advised of the withdrawal until October 22, two days after her additional loan was certified.)" 12) Page 4-4, Slide 4-5: Rewrite the text of the first dash (-) point so that it reads: "The date the lender in the FFEL Program or the Department (ED) or the school in the Direct Loan Program receives written notification asking that the MPN no longer be used." 13) In Appendix A, "Repaying My Loans:" Correct the Graduated column entries for Per Month and Total alongside the line for $23,000 by substituting "158" for "392" and "51,087" for "94,068" as these entries on that line. 14) In Appendix C, Completed Return of Title IV Funds Worksheet for Kelly Jamie Raphael (Case Study 3-7) contains a number of corrections: Substitute "$975.00" for "$970" in Step 1, Line 1, under the column, Net Amount That Could Have Been Disbursed. Delete "$636.32" in Step 1, Line 2 under the same column. Substitute "$975.00" for "0.00" in Step 1, Box A. Substitute "$2,255.07" for "$2,250.07" in Step 1, Box B. Substitute "$2,255.07" for "$2,250.07" in Step 3, Box B and "$1,244.80" for "$1,242.04" in Step 3, Box D. Substitute "$1,244.80" for "$1,242.04" in Step 4, Box D and "$975.00" for "$0.00" in Step 4, Box A, as well as "$269.80" for "$1,242.04" in Step 4, Box E. 15) In Appendix C, Post Withdrawal Disbursement Tracking Sheet for Kelly Jamie Raphael (Case Study 3-7) contains a number of corrections: Substitute "$269.80" for "$1,242.04" in Box A for Amount of Post-Withdrawal Disbursement. Substitute "$0" for "$975.00" in Box B for Total outstanding charges on student's account. Substitute "$0" for "$975" for the first bullet under item C., Total amount of post-withdrawal disbursements credited to student's account. Substitute "$0" for "$975.00" in Box C for Total Amount Credited to Account. Substitute "$269.80" for "$267.04" in Box F for Total amount of post-withdrawal disbursement (Box A) - amount of post-withdrawal disbursement credited to student's account (Box C) = Total amount offer to student. Substitute "$269.80" for "$643.75" as it applies to Pell Grant and Delete "$331.25" as it applies to Subsidized FFEL/Direct Stafford Loan under the heading Post-Withdrawal Disbursement Made From. 16) Appendix D, Page D-2, Slide 2-20: Substitute "350" for "250" clock hours in the third line of the text. 17) Appendix D, Page D-2, Slide 2-20: Rewrite the calculation under the first bullet line so that it reads: "15/30 (.50) 350/900 (.39)." 18) Appendix D, Page D-2, Slide 2-20: Rewrite the calculation under the second bullet line so that it reads: "$2,625 X .39 = $1,023.75 (prorated max)." 19) Appendix D, Page D-2: Insert this text between the bottom of Slide 2-20 and top of Slide 2-21: "In Case Study 2-3, we want to determine the prorated loan amount for each scenario." 20) Appendix D, Page D-18, Case Study 4-2, 1A, Second Paragraph, Line 1: Insert "initially" between "is" and "not." 21) Appendix D, Page D-18, Case Study 4-2, 1A, Third Paragraph, Line 2: Delete "As a result" and substitute this phrase: "Until such time as MECC is authorized by the Department for multi-year use of the MPN, ." 22) Appendix D, Page D-22, Case Study 4-6, 2A, Line 2: Insert "for" between "MPN" and "each" at the beginning of that line. 23) Appendix E, Page E1-4: Move the "X" from the "10/1/98" column to the "2000-2001 Award Year" for each of these three Reauthorization Provisions: a) Needs Analysis: Income Protection Allowance, b) Needs Analysis: Parents Attending College, and c) Needs Analysis: Prorated Student Contribution for Shorter Periods. 24) Appendix E, Page E2-1, Federal Perkins Loan, Deferment and Cancellation, Deferments: Insert an asterisk (*) after the fifth arrow bullet "Volunteer under Peace Corps Act or Domestic Volunteer Service Act" in the left-hand column under "Service as." 25) Appendix E, Page E2-1, Federal Perkins Loan, Deferment and Cancellation, Deferments: Insert a new arrow bullet and text after the eighth and last arrow bullet in the left-hand column under "Service as." The new text should read: "Full-time law enforcement or corrections officer." 26) Appendix E, Page E2-1, Federal Perkins Loan, Deferment and Cancellation, Deferments: As a follow up to item 24), insert an asterisk (*) with the subsequent text on the bottom of this page: "Members of the Peace Corps are eligible for a deferment in anticipation of cancellation for their entire period of service." 27) Appendix E, Page E2-3, Federal Perkins Loan, Cancellations: Insert an asterisk (*) in the left-hand column after "Full-time law enforcement or corrections officer" and another asterisk (*) in the same column after "Full time teacher in the field of math, science, foreign languages, bilingual education or any other field of expertise identified by a state education agency to have a shortage of qualified teachers in that state." 28) Appendix E, page E2-3: As a follow-up to item 27), insert an asterisk (*) and the subsequent text on the bottom of this page: "Borrowers, who were previously ineligible for cancellation because of when their loans were made or the terms of their promissory notes, are now eligible for cancellation on the outstanding balance of those loans for eligible service performed on or after October 7, 1998." 29) Appendix E, page E2-4: Insert an asterisk (*) after each of the following items in the left-hand column of this page: a) "Full time nurse or medical technician providing health care services;" b) "Full time qualified professional provider of early intervention services in a public or non-profit program under public supervision;" c) "Full time employee of a family service agency providing or supervising the provision of services to high risk students from low-income communities and their families;" and d) "Volunteer service in Peace Corps or ACTION Program." 30) Appendix E, page E2-4: As a follow up to item 29), insert an asterisk (*) and the subsequent text on the bottom of this page: "Borrowers, who were previously ineligible for cancellation because of when their loans were made or the terms of their promissory note, are now eligible for cancellation on the outstanding balance of those loans for eligible service performed on or after October 7, 1998." |