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									Georgia Student Finance Commission
      March 2005 Conference
                 AGENDA


   GSFC Origination Services Session
   GSFC State Grants and Scholarships
    Session
   GAcollege411 Session
   Questions & Answers Session
 GSFC Origination Services Session


Tracy Ireland, Senior Manager of Originations Services
          Richard Hanson, Senior Manager of
                Collections and Claims
 Donna Hall, Senior Manager of Customer Relations


            Georgia Student Finance Commission
                        March 2005
           Topics of Discussion

   GSFC Loan Products
   GSFC Origination Services
   GSFC Service Cancelable Loan Program
   GSFC Guaranty Services
   Collections Operations
   Mapping Your Future
            GSFC Loan Products

   Participant in the Federal Family Education
    Loan Program
     – Federal Stafford Loan Program
     – Federal Parent Loan for Undergraduate
       Students (PLUS) Program
     – Federal Consolidation Loan Program
   Offers alternative and service cancelable loans
    GSFC Loan Products Continued

   Federal Stafford Loans
    – Origination Fee of 1.75%
    – When borrower enters repayment, they will
      receive a .35% interest rate reduction for
      enrolling in GSFC’s auto debit program.
    – After 48 on-time payments, borrower will
      receive a 2% interest rate reduction.
    GSFC Loan Products Continued

   Federal Parent Loan for Undergraduate (PLUS)
    Students
    – When loan enters repayment, borrower will receive a
      1.25% principal credit on the balance of the loan.
    – If the borrower enrolls in GSFC’s auto debit program,
      they will receive a .35% interest rate reduction
    – After 48 on-time payments, borrower will receive a
      2% interest rate reduction.
    GSFC Loan Products Continued

   Federal Consolidation Loans
    – Offer the borrower the opportunity to
      consolidate all outstanding loans into one
      loan.
    – Borrower must have at least $7500 in
      outstanding loans.
    – Borrower will receive a .35% interest rate
      reduction for enrolling in GSFC’s auto debit
      program.
    GSFC Loan Products Continued

   Alternative loans
    –   Cover more of the cost of going to college
    –   Competitive rates
    –   Flexible approval guidelines
    –   Currently non school certifiable
   New “alternative” offerings
    – School certifiable products
    – Greater flexibility
       GSFC Origination Services:
             Specialized
   GAcollege411.org
   High School outreach
   Expanded entrance/exit counseling
   Financial aid awareness fairs
   Printing for Financial Aid offices
   Technical/back office streamlining
   Financial aid counseling
   Supplemental staffing to FAOs
   Training on GSFC systems and services
       GSFC Origination Services:
    Flexible Advanced Processing Options

 Real Time Loan Guaranty and Response
 ScholarNet

 NelNet

 ELM Resources

 FASTLoans

 FASTPLUS

 PLUS Pre-Approval

 Disbursement / refund options
       GSFC Origination Services:
         Single Source Partners
   Single entity that can process loans for any of
    our 21 partner lenders
   Offers a single point of contact for schools,
    borrowers, and lenders regarding loan status
   Collect and process promissory notes – utilizing
    e-signature or paper promissory notes
   Allows the school to receive one disbursement
    roster for all lenders
       GSFC Origination Services:
         Single Source Partners

   Dedicated School Relations Specialist for
    each school – 14 years average experience
   Dedicated Processing Staff for promissory
    notes – average processing time is 24
    hours
   School can receive funds within 48 hours
    of all information being received
       GSFC Origination Services:
            Coming Soon

   Real Time PLUS Pre approval Email
    Notification for FAST Products
   Online Award Notifications
   Integrated Entrance/Exit Counseling
   Improved lender communications and
    business processes
   Application Standardization
    GSFC Service Cancelable Loan
      (SCL) Program Overview
   Purpose and Benefits
   SCL Program Description
    – Who is eligible
    – How is the obligation repaid
   Critical Shortage Fields
   Determining Critical Shortage Fields
        SCL Purpose and Benefits

   Increases quantity of workforce in critical
    professions
   Attracts applicants in specific professions
   Improves quality of workforce
   Promotes job retention in Georgia
      SCL Program Description-
             Eligibility
   Residency
   Citizenship
   Academic Requirements
   Other Standard Financial Aid Requirements
        SCL Program Description-
              Repayment

Service Repay
   Student must graduate with a degree or certificate in the
    field for which they were funded
   Graduates must work full time in the field for which they
    were funded
   Service credit is awarded for each year of employment
   How does GSFC know:
     – If the student obtained a degree
     – If the student is working in field
       SCL Program Description-
             Repayment

Trouble Spots
   Unemployment
   Active Military Duty
   Enrollment
   Disability
   Death
        SCL Program Description-
              Repayment
Service Default
   Loans enter cash repay if student fails to work as
    outlined in the critical shortage field
   Repayment of the full amount less any service
    credit earned
   Payment will include principal and interest.
   Interest rates vary by program
   GSFC works with borrowers to establish repay
    schedules
    Current Critical Shortage Fields

   Allied Health Related Professions
     – Stafford Loan with Service Option
   ICAPP
   Nursing
   Teaching
     – Promise, HOPE Teacher, Promise II
   Military
     – Georgia National Guard
     – North Georgia College
     – Georgia Military College
   Scholarship for Engineering Education (SEE)
   Agriculture Education
         Determining Critical
           Shortage Fields

Teaching
 Georgia public schools are surveyed
  annually by the Department of Education
 Positions with 5% vacancy rate and
  adequate number of vacancies are
  identified
             Determining Critical
            Shortage Fields (Cont)
Allied Health and Other Fields
 Feedback and input from multiple sources:
    –   Department of Human Resources
    –   Georgia Hospital Association
    –   Department of Labor
    –   Georgia Postsecondary Schools
    –   Legislators
   GSFC Team researches and makes
    recommendations to GSFC Board
SCL The Future-Proposed Methods

   Annual review of states workforce needs
    – Alignment with Georgia’s strategic needs
    – 500 new Social Worker Positions
   Teaching and Nursing on list for foreseeable
    future
   GSFC presents recommendations at the August
    Board Meeting
   GSFC presents shortage fields to Governor with
    budget submission
   GSFC Board has proactive role
        GSFC Guaranty Services

   GHEAC is the guaranty division of the
    Georgia Student Finance Commission
    – More than $2 billion outstanding
   For the 2005-2006 academic year,
    GHEAC will again waive the guaranty fee
    – Saves students 1% of the loan upfront
    – Saves students $2 million
    – Since 1999 saved students > $12 million
         GSFC Guaranty Services

   Localized training, either at our offices in
    Tucker, or locations throughout Georgia
   Default Prevention Program
    – Peer financial counseling
    – Partner in Chat Night
    – Partnerships to encourage responsible borrowing
   Default prevention coordinator
   Referrals to consumer credit counseling services
   Graduating seniors statement of account
          GSFC Guaranty Services

Default Aversion
   Calls and letters to past due borrowers
   Information on deferments and forbearances
   Delinquent borrowers reports
   Only GSFC programs
     – State tax offset
     – Professional licensing
     – Lottery winnings
         GSFC Guaranty Services

Default Rates and FLSR
   GHEAC’s default rate spiked
    – Expanded default aversion/prevention
    – Expanded collection efforts
   FY 2003 4th largest rehab program in US
    – Borrower cleans up credit in 12 months
    – Over $9 million rehabilitated in FY2003
   FLSR health
    – GHEAC is number 8 in US
                Collections Operations

   How Default Rates affect you.
   How you can help.
     – Stress importance of repaying loans in a timely manner
     – Advise students that there are programs available for them if they
       are not able to make payments on their loans.
     – Advise students of the GSFC website.
     – Gather forwarding address, phone number and e-mail information
   We are here to help our borrowers. If they are having difficulty
    meeting their obligations they need to contact us, not avoid us.
             Collections Operations

   Flow of an account through delinquency to default
    – 15 days delinquent: Reminder Letter sent to borrower
    – 30 days delinquent: First collection letter
    – 35 days delinquent: Account loaded into the auto dialer.
      Account called every five days until default
    – 60 days delinquent: Second collection letter
    – 90 days delinquent: Third collection letter
    – 120 days delinquent: Demand letter
    – 180 days delinquent: Final demand letter
              Collections Operations

   Deferments and Forbearances – There are numerous
    programs available to borrowers that find it difficult,
    if not impossible to meet their loan obligations.

    –   Unemployment
    –   Financial Hardship
    –   In-School
    –   Military
    –   Medical Residency
            Collections Operations

   Role of Default Aversion – Assist in the
    collection effort
    – Lender may refer accounts to Default Aversion
      between 60 and 120 days delinquent.
    – Default Aversion unit will send letters and call the
      borrower until the account is brought current or
      defaults.
    – Default Aversion does not collect, they counsel
      borrowers.
            Collections Operations

   Collections does not stop after default
   Post Default Collections unit manages the
    collection effort after default.
    – Third party collection agencies are utilized to collect
      the debt.
    – Collection fees of 25 percent are added to the account
      balance.
    – Tax Offsets
    – Administrative Wage Garnishments
    – Professional License Suspension
            Collections Operations

   Bankruptcy does not get rid of your
    student loan obligation.
    – Bankruptcy will wipe out or lower many types of
      debt, but a student loan is exempt from bankruptcy
      proceedings. Thus, filing bankruptcy to eliminate
      your student debt will not work, it will only ruin your
      credit.
                Collections Operations

ALTERNATIVE COLLECTIONS:
FEDERAL TREASURY OFFSET – Treasury offset certification occurs
due to a gap in payment of at least 60 days. Certification enables the recovery
of any federal proceeds due to the borrower. (i.e. tax refund, social security
benefits)

STATE REVENUE OFFSET – The default status with the state guarantor
qualifies the borrower for potential offset of state revenue funds due. It does
not matter whether they are paying or not. No gap in payment has to exist.
               Collections Operations

ALTERNATIVE COLLECTIONS (cont.):

GEORGIA LOTTERY WINNINGS – Comparable to state offset, the mere
existence of a defaulted student loan with the state guarantor qualifies the
borrower for potential offset of lottery winnings.

ADMINISTRATIVE WAGE GARNISHMENT – A non-court imposed
process may be initiated to garnish borrower wages. The collection agencies
that represent the guarantor have flexibility in establishment garnishment
policy. The timing of this action being initiated may vary from agency to
agency.
                Collections Operations

ALTERNATIVE COLLECTIONS (cont.):

PROFESSIONAL LICENSING PROGRAM – The guarantor does a
monthly match with various licensing entities to obtain current address
information and to identify license holders with a gap in payment of at least 60
days. The potential for loss of license encourages the borrower to bring the
account current or to start making payments.

All of these programs work together in an effort to maximize recovery and to
resolve the default.
                Collections Operations

COLLECTION AGENCIES:
The Georgia Student Finance Commission no longer performs in-house
collections on it’s default portfolio. All accounts are outsourced to third-party
collection agencies.

List of Active Agencies:
 General Revenue Corporation
 OSI Outsourcing
 Collection Technology Inc.
 Risk Management Alternatives
 GC Services
 Pioneer Credit Recovery
 Premiere Credit
              Collections Operations

COMMON BORROWER ISSUES:
 REINSTATEMENT OF ELIGIBILITY
 PAID IN FULL LETTER REQUESTS

 LOAN CONSOLIDATION STATUS

 LOAN REHABILITATION STATUS

 CREDIT BUREAU REPORTING
    – Confusion between lender reporting and guarantor reporting
    – Lender reports I-5 and delinquency
    – Guarantor reports I-9 and balance
    – GSFC has implemented use of E-OSCAR reporting to the credit
    bureaus.
         What We’ll Cover Today

   Entrance Counseling
   Exit Counseling
   Reporting / Confirmation Options
   OSLC e-news
    – School
    – Students
   Other Services
       Why Use MYF for Online
            Counseling?

Easy for the student to use
 Entrance and Exit counseling
    – Supports Stafford & Perkins
   Spanish available for Stafford
         Why Use MYF for Online
              Counseling?
   Benefits the school
    – Fulfills a federal requirement
    – Easy to Customize
    – Online service to compliment, or replace, counseling
      provided by a Financial Aid Office staff member
    – Eliminate postage costs by eliminating the mailing of
      exit counseling packets (estimating staff costs only,
      MYF saved schools more than
      $25 million dollars in FY2003)
           Why Use MYF for Online
                Counseling?
   Provide a service to our schools at a fraction of the
    cost of other methods
   Leverage technology by taking advantage of the
    services offered by Mapping Your Future as well as
    sharing of ideas among sponsoring agencies
   Enhance default prevention efforts with the many
    features offered on Mapping Your Future and
    through ExitExpress
Financial Aid Professionals
               Confirmations

   Download your confirmations
    Export them, if you’d like!
    – By date (or date range)
    – By confirmation number
    – Search on student name or SSN
   Receive E-mail confirmations
   Print confirmation reports
                  ExitExpress

   Guaranty agencies retrieve exit data on
    behalf of school
    – Increases security of exit data
    – More efficient information-sharing process
    – Aids default prevention efforts (more accurate
      and up-to-date information)
   Save schools time and money
                         ExitExpress

   Schools should verify that guarantor retrieved
    data
    – Guarantor Exception Report
           Manually send data that the guarantor didn’t retrieve (satisfy
            requirement to send data to guarantor within 60 days)
           Add guarantor if none selected
    – Guarantor Rejection Report
           Verify SSN
           Add correct guarantor
           Manually send data that the guarantor didn’t retrieve
                OSLC e-news

   News you can use
    – Updates to Online Student Loan Counseling
      products
    – Regulatory requirements for loan counseling
    – Other new products and services
   News your students can use
    – Upcoming chat events
    – New information for students and families
      Other Mapping Your Future
              Resources
   Personal finance tips and tools
   Calculators
    – Loan Calculators
    – Budget Calculators
    – Consolidation Calculators
   Loan Wizard
   Deferment Navigator
   Loan Cancellation, Forgiveness & Discharge
    Chart
           Future Enhancements

   User passwords will be prompted to
    change on a regular schedule
   School Administrator will be able to set
    access for individual users
   Link to Meteor will provide information
    for all loans at Exit Counseling
         MYF Customer Service

   Beth Ziehmer
    Customer Care/Operations Specialist
    beth.ziehmer@mapping-your-future.org
    (573) 796-3730
   CariAnne Behr
    Project/Team Coordinator
    carianne.behr@mapping-your-future.org
    (573) 634-8641
 To learn how your School can
         participate in
 Entrance and Exit Counseling
through Mapping Your Future,
Ask a GSFC Account Executive
Georgia Student Finance Commission
      March 2005 Conference
      GSFC State Grants and
       Scholarships Session

Bill Flook, Senior Manager of Program Administration
 Bob Lahl, Manager of IT Planning & Administration




          Georgia Student Finance Commission
                     March 2005
           ACCEL PROGRAM
         TOPICS OF DISCUSSION

   Program Description
   Application Process
   Award Process
        ACCEL PROGRAM
      PURPOSE OF PROGRAM


To accelerate progress toward earning a high
school diploma and college degree.
            ACCEL PROGRAM
               HISTORY

   Created by budget line item
   Governed by GSFC regulation
   Funded by lottery
   Expansion of PSO – all high schools
    eligible
               ACCEL PROGRAM
                 DEFINITIONS

   For purposes of Accel, “dual credit” means the
    student is enrolled at the college and the high
    school, and the college credit earned will be
    transferred to the high school transcript.

   For purposes of Accel, “joint enrollment” means
    the student is enrolled at the college and the high
    school, but college credits are not transferred to
    the high school transcript.
            ACCEL PROGRAM
          APPLICATION PROCESS


   Printable application on GSFC web site
    (www.gsfc.org) must be completed.


   Student, parents, high school officials, and
    college officials should all read pp. 1-2 of the
    application (instructions).
             ACCEL PROGRAM
           APPLICATION PROCESS
                 (continued)
For Winter/Spring 2005:
   Student completes Part I of Accel application
     (pp. 3-5) and submits entire application to high school.
   High school counselor, registrar, or other appropriate
    official completes Part II (p. 6.) and submits entire
    application to postsecondary institution.
   Postsecondary institution admissions officer, registrar, or
    other appropriate official completes Part III ( p. 7) and
    submits entire original application to GSFC and a copy
    to the Office of Student Financial Aid.
           ACCEL PROGRAM
         GENERAL INFORMATION

   Full-time enrollment is not required.
   No minimum credit hours required.
   The high school must accept the college degree-
    level coursework and show it on the student’s
    high school transcript.
   Courses must be in one of the five CPC areas
    (English Language Arts, Mathematics, Science,
    Social Science, Foreign Language).
   Course Directory is available on GSFC’s Web
    site (www.gsfc.org).
           ACCEL PROGRAM
      ELIGIBILITY REQUIREMENTS

   Must be classified a legal resident of Georgia.
   Must meet citizenship requirements.
   Must meet Selective Service Registration
    requirements.
   Must not owe a refund to a State program.
   Must be in compliance with Georgia’s Drug-
    Free Postsecondary Education Act of 1990.
           ACCEL PROGRAM
      ELIGIBILITY REQUIREMENTS
               (continued)
   Must have completed all academic requirements
    of the high school sophomore level.
   Must be classified as a high school junior or
    senior.
   Must not have received a high school diploma or
    GED.
           ACCEL PROGRAM
      ELIGIBILITY REQUIREMENTS
               (continued)
   Must be enrolled in a public or private
    high school that is eligible to participate in
    the Accel Program as defined by Accel
    Regulations.

   Must be approved for dual enrollment by
    high school officials.
            ACCEL PROGRAM
       ELIGIBILITY REQUIREMENTS
                (continued)
   Must attend a USG, DTAE, or an eligible private
    college/university in Georgia.
   Must be admitted as a dual credit student and
    enrolled in degree level course work.
   Students are ineligible for Accel if enrolled in a
     technical certificate or diploma program, but
     may receive the HOPE Grant.
          ACCEL PROGRAM
    GEORGIA DOE RESPONSIBILITIES

   Annually update the Accel high school Course
    Directory by February 1.

   Serve as advisory resource to high school and
    college officials regarding Accel-eligible high
    school courses.
              ACCEL PROGRAM
                HIGH SCHOOL
              RESPONSIBILITIES
   Obtain written consent from parents/legal
    guardians.
   Provide written verification of student’s
    eligibility:
    – Completion of 10th grade requirements; and
    – Good academic standing.
   Provide high school course(s) and course
    number(s) on Accel Application.
   Process and record college dual credit hours
    toward high school graduation requirements.
            ACCEL PROGRAM
        COLLEGE RESPONSIBILITIES

   Annually update the Accel-eligible college
    degree-level coursework by March 1.
   Process and transfer credit hours earned by dual
    credit students to the high schools and other
    postsecondary institutions.
   Verify students meet requirements:
    –   Georgia residency;
    –   Citizenship;
    –   Selective Service Registration;
    –   Does not owe refund to a State program; and
    –   In compliance with Georgia’s Drug-Free Postsecondary
        Education Act of 1990.
               ACCEL PROGRAM
                HOURS LIMITS

   Awards are restricted to regular academic year.
    – Fall and Spring semesters
    – Fall, Winter, and Spring quarters
   Neither hours nor grades will be included in the
    127 semester/190 quarter Attempted-Hours limit.
   Hours paid by Accel will be included in the 127
    semester/ 190 quarter Combined-Paid-Hours
    limit, effective Fall 2004.
               ACCEL PROGRM
                HOURS LIMITS
                  (continued)
Scenario: A high school senior is a dual credit
  student at a local college Fall 2004 (3 sem. hrs.)
  and Spring 2005 (6 sem. hrs.). Also during
  Spring 2005, student takes a diploma course (5
  qtr. hrs.=3.33 sem. hrs.) at a public technical
  college. Student graduates as a HOPE Scholar in
  May 2005. Student attends college outside of
  GA Fall 2005 and Spring 2006. Student returns
  to Georgia for college Fall 2006.
               ACCEL PROGRAM
                HOURS LIMITS
                  (continued)
            Example of how hours are counted
   Term       Accel      HOPE          HOPE         HOPE
                      Scholarships     Grant      Combined
                       Attempted     Paid Hours   Paid Hours
                         Hours

Fall 04        3                                          3
Spring 05      6                       3.33            9.33
Fall 05                   12                              0
                      Out-of-state
Spring 06                 12                              0
                      Out-of-state
Fall 06                   12                             12
                       in-state
Totals         9          36           3.33          24.33
           ACCEL PROGRAM
        AWARDING and INVOICING

AWARD AMOUNTS AT PUBLIC COLLEGES:
 Tuition
 HOPE-approved mandatory fees
 Book allowance:
    – 6+ hrs. per term = $150 per semester or $100 per
      quarter.
    – 1 to 5 hrs. per term = $75 per semester or $50 per
      quarter.
   No Summer term Accel awards.
            ACCEL PROGRAM
         AWARDING and INVOICING

AWARD AMOUNTS AT PRIVATE COLLEGES:
 Maximum Award = $3000 per school year.
 Full-time (12 hours) Awards:
  - $1,500 per semester; or
    - $1,000 per quarter.
   Part-time (1 - 11 hours) Awards:
    - $125 per semester hour; or
    - $84 per quarter hour.
   No Summer term Accel awards.
         ACCEL PROGRAM
      AWARDING and INVOICING

Winter/Spring 2005:
 Paper application is mailed to GSFC for data
  entry.
 Online invoices can be sent to GSFC by the
  college through SURFER (Paper invoice mailed
  to GSFC is still acceptable).
 Invoice is processed in one day.

 Reports available the next day.
                ACCEL PROGRAM
                   REFUND

   A refund is due if a student fails to complete a
    period of enrollment due to:
    –   Withdrawal;
    –   Drops out;
    –   Drops hours; or
    –   Expelled.
   Accel awards must be adjusted and amount of
    refund must be determined according to the
    school’s refund policy.
              ACCEL PROGRAM
              RECONCILIATION

   End-of-year
   Student-by-student verification
   Reconciliation Certification must be submitted
    by the college by July 1
   Return unused Accel funds by July 1
     ACCEL PROGRAM




What are YOUR questions?
    ACCEL PROGRAM - PUBLIC
       SITUATIONS – Q&A

Mrs. Jones calls to inquire about her daughter’s
possible eligibility for Accel. The family
members are citizens of Canada; the father is
here on a work Visa; daughter here on a student
Visa. Last year, the daughter participated in
PSO. Is she eligible for Accel?
       ACCEL PROGRAM - PUBLIC
          SITUATIONS – Q&A

   Answer: No
    A student must be a U.S. Citizen or a non-citizen
    who meets Title IV eligibility requirements.
    Work Visas and student Visas do not meet the
    qualification of an “eligible non-citizen.”
    ACCEL PROGRAM - PUBLIC
       SITUATIONS – Q&A

Mrs. Johnson calls asking how Accel will pay
for her son’s courses if he participates in Accel?
Do we send the money to her so she can pay the
college?
       ACCEL PROGRAM - PUBLIC
          SITUATIONS – Q&A

   Answer: No
    GSFC cannot disburse funds directly to
    students/parents. After the college verifies
    the student’s eligibility to participate in
    Accel, the college will invoice GSFC.
    Then GSFC will send the funds to the
    college, and the college will apply the
    funds to the student’s account.
    ACCEL PROGRAM - PUBLIC
       SITUATIONS – Q&A

Mr. Price calls to find out how his daughter can
receive her book allowance from Accel.
        ACCEL PROGRAM - PUBLIC
           SITUATIONS – Q&A

   Answer: Before this question can be answered,
    more information is needed.
    Is the student attending a public institution or a
    private institution? There is no book allowance
    for students attending private
    colleges/universities. If the student is attending a
    public institution, the parent/student should
    contact the Student Financial Aid Office at the
    institution to inquire about the distribution of the
    book allowance.
    ACCEL PROGRAM - PUBLIC
       SITUATIONS – Q&A

Ms. Hall calls to ask if a student is required to
have a minimum high school GPA or minimum
SAT score to be eligible to participate in Accel.
       ACCEL PROGRAM - PUBLIC
          SITUATIONS – Q&A

   Answer: No
    Accel does not require a minimum high
    school GPA or SAT/ACT score for
    participation. However, the student’s high
    school or school system may establish a
    minimum standard. Also, the college may
    require a minimum standard for admission
    or participation.
   ACCEL PROGRAM - PUBLIC
      SITUATIONS – Q&A

Sally A. Student calls. Her high school
counselor has told her that since she did not
participate in Accel during Fall Semester 2004,
she cannot participate during Spring 2005. Is
this true?
        ACCEL PROGRAM - PUBLIC
           SITUATIONS – Q&A

   Answer: Maybe
    While Accel doesn’t require that a student
    participate all year, the high school may have
    determined that the student will not have the
    required number of units (Carnegie units) for
    high school graduation if he/she does not
    participate in dual enrollment during all terms of
    the academic year.
   ACCEL PROGRAM - PUBLIC
      SITUATIONS – Q&A

Ms. Jenkins’ child (a senior) attends a private
high school that is HOPE-eligible. Can her child
receive Accel for the term beginning in January
2005?
        ACCEL PROGRAM - PUBLIC
           SITUATIONS – Q&A

   Answer: Yes
    Effective January 2005, students at eligible
    private high schools will be able to receive Accel
    at an eligible public or private college.
   ACCEL PROGRAM - PUBLIC
      SITUATIONS – Q&A

Mr. Williams has a son who is a junior in high
school. He is interested in the types of courses
his son can take at the local college and take
advantage of Accel. Is there a Course Directory
available?
       ACCEL PROGRAM - PUBLIC
          SITUATIONS – Q&A

   Answer: Yes
    The Course Directory is now available on our
    Web site and will be updated as more private
    colleges submit courses for the Directory. High
    school counselors use the numbers on the left
    side of the Directory to complete page 6 of the
    Accel Application. College officials use the
    corresponding information on the right side of
    the Directory to complete page 7 of the
    application.
    ACCEL PROGRAM - PUBLIC
       SITUATIONS – Q&A

Mrs. Hamilton is a Counselor whose student
needs to take U.S. History II to fulfill the Social
Science requirement needed for graduation. This
course is not in the Course Directory. Will Accel
pay for the course?
        ACCEL PROGRAM - PUBLIC
           SITUATIONS – Q&A

   Answer: Yes
    Because U.S. History II is a CPC course, the
    Counselor can list “45.99999 – Social Studies –
    Other” on p. 6 and write out “must be U.S.
    History II” as further instruction. The college
    can then look for the appropriate history course
    for the student in the Course Directory (i.e., any
    HIST 1000 level or higher).
             HOPE Invoicing
         TOPICS OF DISCUSSION


   Background and Current System
   HOPE Invoicing Overview
   Invoicing Update
            HOPE Invoicing
            BACKGROUND


State Department of Audits determined
that our system did not provide
necessary accounting controls over
HOPE funds and recommended
establishing an invoice system.
              HOPE Invoicing
            SYSTEM OVERVIEW

   Electronic invoices submitted as early as 15 days
    prior to first day of classes.
   Invoice lists each student.
   Public schools invoice includes tuition, fees, and
    books.
   Disbursement in two business days.
   Schools can control disbursements.
   Supplemental invoices and adjustments
    submitted anytime during the term.
               HOPE Invoicing
              RECONCILIATION

   Reconcile by end of each term.
   Schools can invoice for term after term
    reconciled.
   Term reconciliation means school acknowledges
    GSFC’s disbursement figures.
   Electronic acknowledgement by FAD.
   Funds for future terms withheld until term
    reconciliation is complete.
   Final year-end reconciliation means invoices
    equal disbursements.
              HOPE Invoicing
             ENHANCEMENTS

   Ability to import invoice data.
   e-HOPE return files contain additional
    data.
   Electronic Reconciliation file enhanced.
   Ability to import Invoice Reconciliation
    file.
   Moving “all” Upload and Download files
    to delimited format.
                HOPE Invoicing
                  UPDATE

   PRIVATE SCHOOLS
    – 21,716 Invoices
    – $28,692,458.00 disbursed
   DTAE SCHOOLS
    – 131,711 Invoices
    – $54,923,014.00 disbursed
   USG SCHOOLS
    – 161,385 Invoices
    – $254,054,548.00 disbursed
            HOPE Invoicing
      OTHER STATE SCHOLARSHIP /
         GRANT PROCESSING

   Other awards processed using current
    system

   Migration to Invoicing currently under
    development
              HOPE Invoicing
                RECAP

   Schools use current system for other
    Scholarship / Grants
   Schools will invoice before receiving
    funds
   Reconciliation at the end of each term
    (Invoicing)
   Year end Reconciliation for all programs
Georgia Student Finance Commission
      March 2005 Conference

								
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