Campus Partners Update Newsletter
January 7, 2010
Holiday Closings |
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Martin Luther King Jr Birthday: January 18 |
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Presidents Day: February 15 |
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Inside the Industry Sheldon Repp NCHELP |
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Perkins Changes Likely Delayed One Year
Representatives from the Department of Education told NASFAA Board of Directors at their fall board meeting that changes to the current Perkins program will most likely not occur until the 2011-2012 award year. As published in previous issues of the Campus Partners Update, the proposed Student Aid and Fiscal Responsibility Act (SAFRA) calls for the elimination of the current Perkins program effective July 1, 2010. A new Federal Direct Perkins Loan program would take its place.
The House passed their version of SAFRA in September 2009. As this issue of the Update goes to publication, we are still waiting on the Senate version of the bill. The reason for the delay remains the same—health care reform. Once the Senate has reached its final decision on the health care bill, the path will be cleared for consideration of the student loan bill.
COHEAO views the delay as welcome news since it provides an additional opportunity for schools to contact their Senators with opinions about the current version of the bill. Campus Partners will continue to keep you updated on this important legislation.
Congress Passes Fiscal Year 2010 Education Spending Bill
Last month, President Obama signed the $447 billion Omnibus spending bill. This legislation includes appropriations for the Departments of Commerce, Defense, Education, Health and Human Services, Housing and Urban Development, Justice, Labor, State, Transportation, Treasury and other agencies to fund the government for the next fiscal year.
While it was no surprise that H. R. 3228 did not include any federal funding for the Perkins program, this is the first time in many years that Perkins Loan cancellations were not funded. The TRIO and GEAR UP programs will receive $5 million and $10 million increases, respectively. However, most Title IV programs will see level funding.
Three-Year Cohort Default Rate
In our December 1, 2009 Campus Partners Update, we provided you with a summary of the changes made to the Federal Perkins program due to changes by the Higher Education Opportunity Act (HEOA). One of the changes included the timeframes for calculating the FFELP/Direct Loan Cohort Default rate. Please note that these changes do not apply to Federal Perkins loans.
To review these changes affecting other loan programs, refer to the Federal Register dated October 28, 2009 available at http://ifap.ed.gov/fregisters/FR102809InstitutionandLenderrequirements.html.
Bill Introduced to Create Private Loan Ombudsman
Senator Sherrod Brown (D-OH) recently introduced S. 2733, a bill to create a private education loan ombudsman office to assist borrowers in resolving disputes related to their private loans. Senators Michael Bennet (D-CO), Al Franken (D-MN), and Barbara Mikulski (D-MD) signed on as co-sponsors. This new office would be created to “receive, review, and attempt to resolve informal complaints from borrowers”of private education loans. Unlike the Federal Student Aid Ombudsman Office, which resides within the Department of Education, the private student loan ombudsman would be overseen by the Secretary of Treasury, who would consult and work with the Secretary of Education to disseminate information and resolve conflicts.
We are celebrating anniversaries of 40, 35, and 30 years with the following customers this quarter:
40 Years
Arcadia University
Community College of Philadelphia
County College of Morris
Fairview General Hospital
Lynn University
Montreat College
Ocean County College
Philander Smith College
St. Bonaventure University
35 Years
Franklin & Marshall College
Universidad Central de Bayamon
30 Years
Cambridge College
Kaplan College-Hagerstown Campus
Manhattan College
Mount Vernon Nazarene University
New Hampshire Charitable Foundation
Palm Beach Atlantic University
Randolph-Macon College
University of Massachusetts-Dartmouth Swain School of Design
University of Puerto Rico
Please see the following attachment for more customers observing milestone anniversaries with us this quarter.
Attachment: Long Term Anniversaries
Jeannette Crouthamel from West Chester University called us recently about a borrower’s account. She told her Representative that she always goes by what we suggest because she trusts our judgment. She also noted that Campus Partners must be a good place to work due to the longevity of our Customer Service Representatives. Another school inquired about us and she told them that we were GREAT, PERFECT, THE BEST.
Thank you, Jeannette!
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Web conferences offer a great way to receive training without leaving your office. These sessions are free of charge. Please email Debra Pitts at dpitts@campuspartners.com to register for any or all of the Web conferences listed below.
2010 Web Conference Schedule
| Topic | Date |
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How to Use and Interpret Reports from Campus Partners
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Thursday, February 11
2:00 to 3:30 Eastern |
Understanding and Interpreting History
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Thursday, March 11
2:00 to 3:30 Eastern |
TBD |
Thursday, May 13 2:00 to 3:30 Eastern |
Understanding and Completing the FISAP |
Thursday, July 8 2:00 to 3:30 Eastern |
Cohort: What is it and How Do I Manage it? |
Thursday, August 12 2:00 to 3:30 Eastern |
The Borrower Experience |
Thursday, September 9 2:00 to 3:30 Eastern |
Regulations Update |
Thursday, November 11 2:00 to 3:30 Eastern |
All About the Collections Process |
Thursday, December 9 2:00 to 3:30 Eastern |
Student Loans 101 and 202 Workshops will be held at our offices in Winston-Salem, NC.
Student Loans 101 is designed with new student loan administrators or those who are new
to Campus Partners in mind, while Student Loans 202 is a unique opportunity for
advanced training. Both workshops provide hands-on training at individual workstations.
Class sizes are kept small so you can receive personal attention and ask questions.
| Student Loans 101 | April 8-9 | October 14-15 |
| Student Loans 202 | June 10-11 | |
| Time: | Day One: 8:30 AM to 4:00 PM | Day Two: 8:30 AM to 1:00 PM |
| Click here: | Workshop Information and Registration Form | |
| To Register: | Fax registration form to Debra Pitts at 336-607-2025 | |
Campus Partners staff will attend the upcoming COHEAO conference. News about upcoming conferences will be published in future issues of the Update.
COHEAO will present its Annual Conference January 23-27 at the Ritz-Carleton Pentagon City in Arlington, VA. Registration information is available at www.coheao.org.
NACUBO will present its Student Financial Services Conference March 14-16 in San Antonio, TX at the Grand Hyatt. More information is available at http://www.nacubo.org.
Cutoff Dates for January, February, March, and April.
Transaction
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Jan. 2010 |
Feb. 2010 |
Mar. 2010 |
Apr. 2010 |
|---|---|---|---|---|
Last day to receive collection payments |
1/26 |
2/23 |
3/26 |
4/27 |
Last day to receive regular payments |
1/27 |
2/24 |
3/29 |
4/28 |
Last day for online payments |
1/29 |
2/26 |
4/2 |
4/30 |
Date final post begins |
1/25 |
2/26 |
4/2 |
4/30 |
Report date used for final post |
1/31 |
2/28 |
3/31 |
4/30 |
Last day deposits created for deposit to bank account |
1/29 |
2/26 |
3/31 |
4/30 |
2010 Cutoff Dates
Month |
Last day to receive collection payments |
Last day to receive regular payments |
Last day for on-line payments |
Date final post begins |
Report date used for final post |
Last day deposits created for deposit to bank account |
December 2009 |
12/28/2009 |
12/29/2009 |
12/31/2009 |
12/31/2009 |
12/31/2009 |
12/31/2009 |
January 2010 |
01/26/2010 |
01/27/2010 |
01/29/2010 |
01/29/2010 |
01/31/2010 |
01/29/2010 |
February 2010 |
02/23/2010 |
02/24/2010 |
02/26/2010 |
02/26/2010 |
02/28/2010 |
02/26/2010 |
March 2010 |
03/26/2010 |
03/29/2010 |
04/02/2010 |
04/02/2010 |
03/31/2010 |
03/31/2010 |
April 2010 |
04/27/2010 |
04/28/2010 |
04/30/2010 |
04/30/2010 |
04/30/2010 |
04/30/2010 |
May 2010 |
05/25/2010 |
05/26/2010 |
05/28/2010 |
05/28/2010 |
05/31/2010 |
05/28/2010 |
June 2010 |
06/25/2010 |
06/28/2010 |
07/02/2010 |
07/02/2010 |
06/30/2010 |
06/30/2010 |
July 2010 |
07/27/2010 |
07/28/2010 |
07/30/2010 |
07/30/2010 |
07/31/2010 |
07/30/2010 |
August 2010 |
08/24/2010 |
08/25/2010 |
08/27/2010 |
08/27/2010 |
08/31/2010 |
08/31/22010 |
September 2010 |
09/27/2010 |
09/28/2010 |
10/1/2010 |
10/1/2010 |
09/30/2010 |
09/30/2010 |
October 2010 |
10/26/2010 |
10/27/2010 |
10/29/2010 |
10/29/2010 |
10/31/2010 |
10/29/2010 |
November 2010 |
11/19/2010 |
11/22/2010 |
11/24/2010 |
11/26/2010 |
11/30/2010 |
11/26/2010 |
December 2010 |
12/27/2010 |
12/28/2010 |
12/31/2010 |
12/31/2010 |
12/31/2010 |
12/31/2010 |
January 2011 |
01/25/2011 |
01/26/2011 |
01/28/2011 |
01/28/2011 |
01/31/2011 |
01/31/2011 |
