Campus Partners Update Newsletter
October 1, 2008
Holiday Closing: Thanksgiving, November 27-28
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Inside Campus Partners Vice President, Application Development |
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NSLDS Change Reminder
Campus Partners wants to remind you that NSLDS reporting requirements have changed as of July 1, 2008. Beginning with loans disbursed on July 1, 2008, data providers will be required to report a single Federal Perkins loan for each academic award year in which the borrower receives funds. Additionally, the borrower’s academic level will now be required and should correspond with the disbursement amount being reported. In order to comply with this new reporting requirement, Campus Partners must now collect additional data on all incoming New Loans and Advances for disbursements made on or after July 1, 2008.
The existing “Academic Level Indicator” will now be required for all New Loans and Advances dated July 1, 2008 or after. The Academic Level Codes have not changed. Only the definition for the “N” value has changed. Please see the attachment below for information on the Academic Level Indicator code values.
Attachment: Academic Level Indicator Code Values
A new data element, “Award Year,” has been added to our New Loans and Advances processing. This field is a 2-position field and should be reported as the year value for the first calendar year in the academic award year. For example: the Award Year will be reported as ‘08’ for all new loans and advances disbursed for the 2008-2009 academic award year. In order to comply with the published deadline, these data elements should be reported for all disbursements made on or after July 1, 2008.
New edits are currently being installed on System III that will reject new Federal Perkins loans and advances to existing loans with disbursement dates on or after July 1, 2008 that do not include the Academic Level and Award Year. Additionally, the borrower’s Date of Birth will also become a required data element for Federal Perkins loans. If you are already reporting this data, thank you. If you are not yet reporting these values, please make plans to do so beginning in October 2008, to avoid new loan and advance rejects.
HEA Reauthorization Implementation Plan
In our September email communication to you, we announced that a new link is available on the Department of Education’s IFAP web site that will give you the latest information about the Higher Education Opportunity Act (HEOA). You may access this link at http://www.ed.gov/policy/highered/leg/hea08/index.html.
The Department of Education plans to implement some parts of the law through new or revised regulations. The negotiated rulemaking process will be used for some regulations. Other areas will be regulated through a notice and comment process or as technical changes, in cases in which regulations merely reflect the changes to the HEA and not expand upon those changes. On ED’s web site, you may view the dates for six planned public meetings where interested parties can suggest issues related to the HEOA that should be considered for action by the negotiating committees in the negotiated rulemaking process.
Additional Guidance from ED Regarding New Rehabilitation Rules
In last month’s Campus Partners Update, we provided you with a summary of the changes resulting from the signing of H.R. 4137 (the Higher Education Opportunity Act-HEOA) into law. One of the changes becoming effective August 14, 2008 (the date of enactment) is a change in the number of on-time consecutive monthly payments borrowers must make before their loan is considered rehabilitated. Effective August 14, 2008, a borrower only needs to make 9 payments rather than 12 payments, before the loan is considered rehabilitated. We have just received additional clarification from the Department of Education stating that if the borrower’s rehabilitation began before August 14, 2008, the loan is considered rehabilitated as long as one of the nine payments was made on or after August 14, 2008.
ED writes:
We will be publishing a Dear Colleague letter shortly that addresses the issue of effective dates of the HEA Reauthorization provisions. However, much like we did when the HERA established the nine-payment rehabilitation standard for FFEL/DL, we will allow the nine payment standard to apply if the Perkins Loan Program borrower had entered a rehab agreement prior to August 14, 2008 (effective date = date of enactment) if at least one of the borrower’s payments was due to be made on or after August 14, 2008.
Campus Partners has already began making programming changes to System III to reflect the completion of loan rehabilitation after nine consecutive monthly payments have been made. Our anticipated completion date is October month end. In the meantime, if you have a borrower currently in a rehabilitation agreement that meets these criteria, contact your Customer Service Representative for assistance.
October 1 Deadline for Submitting FISAP
ED reminds schools of the upcoming deadline for submitting the Fiscal Operations Report for 2007-08 and the Application to Participate for 2009-10 (FISAP) for the Perkins Loan, FSEOG, and Federal Work-Study programs. The 2008-09 Award Year deadline for this year’s FISAP is 11:59 PM (ET) on Wednesday, October 1, 2008. For the latest form and instructions, go to
http://www.ifap.ed.gov/dpcletters/0625CB0809.html.
First Draft of the 2009-2010 FAFSA Available for Comment
ED has released a draft of the 2009-10 FAFSA. In an effort to make sure the most recent draft of the 2009-10 FAFSA is available and to assure that schools have a forum to provide comments, ED has posted the following announcement at http://www.ifap.ed.gov/eannouncements/090908Draft0910FAFSA.html.
If you wish to provide comments, please write to FSA at FAFSA.Comments@ed.gov. This is the same draft that was posted on August 1, 2008 and comments or questions that were submitted previous to this announcement do not need to be resubmitted.
Update your Federal School Code Information by September 30
Federal Student Aid is preparing the initial 2009-10 version of the Federal School Code List of Participating Schools and reminds all schools that school information must be kept current. Please verify your Federal School Code (FSC) name, address, and contact information on the Electronic Application for Approval to Participate in the Federal Student Financial Aid Programs (E-App) Web site, and update the information as necessary. To ensure your changes will be incorporated in the upcoming initial list for the 2009-10 Award Year, please make your updates no later than September 30.
TEACH Grant Eligible Institutions
Attached to this announcement is a listing of the institutions that have been approved as “TEACH Grant Eligible Institutions” for the 2008-09 award year. A total of 435 institutions have been approved as TEACH eligible for the first year of the program. ED will update this listing of TEACH Grant Eligible Institutions on a regular basis as additional institutions are approved. To view this list, go to lhttp://www.ifap.ed.gov/eannouncements/0915TEACHParticipatingSchoolsList0909.html
Institutional Loan Servicing
What’s one of Campus Partners’ best kept secrets? Institutional Loan Servicing! You may not be aware of this, but Campus Partners can handle virtually any requirements for
privately funded loan programs. Our flexible servicing system allows us to service thousands of institutional loan programs for our customers with ease. Several of our customers have more than 200 institutional loan programs, all with complex servicing requirements. We would love to add your institution loan program—large or small—to our system.
Benefits of Campus Partners institutional loan servicing include:
- Two methods of interest accrual—fixed and variable
- Two methods for billing interest during traditional periods of non-repayment status—
billing interest during enrollment, grace, and deferment or adding accrued interest to the
first bill - Consolidated bills for students with more than one loan on our system
- Choice of servicing requirements: timing for collection calls, collection agency placement,
entitlement processing, and more -You name it and we can do it! - Skill-based call routing matches your borrower with representatives who are the most
knowledgeable about your loan program - Complete reporting package allows you to review your entire portfolio or individual
programs - No extra charges for small programs
If you are interested, please contact Debra Pitts at dpitts@campuspartners.com or at 1-800-458-4492, ext. 2272.
40 for 40 Honor Roll
This month we are recognizing 40 colleges and universities that have been our customer or 40 years or more! That’s longer than most marriages and is quite amazing for a business relationship. Is your school one of the fabulous 40? Check it out in our attachment.
Attachment: 40 for 40 Honor Roll
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"Campus Partners always amazes me. I have yet to find a challenge they have not met." Sandie Rosko |
Meet Our Staff
This month we are profiling Robert Layton, Vice President, Application Development. Rob, who started his career at John Hopkins University, has had extensive experience in developing IT solutions for colleges and universities and has achieved many noteworthy personal accomplishments. To learn more about Rob, check out this month’s “Inside Campus Partners.”
Student Loans 101 Workshops Schedule
Our final Student Loans 101 of the year is scheduled for November 13-14, 2008 at our office in Winston-Salem, North Carolina. Our newly expanded training room now seats more people so register now and bring a group for this superlative training. Times for the workshop are listed below to help you in making travel arrangements.
Time: 1st day: 8:30 AM- 4:00 PM 2nd day: 8:30 AM - 12:30 PM
To register, fax a completed registration form to Debra Pitts at 336-607-2025.
Attachment: Registration Form for 2008
Study Hall is in Session!
Our Study Hall schedule appears below. Be sure to join us on October 9 for our next Web conference featuring Regulations Update.
To register for these events, please contact Debra Pitts at dpitts@campuspartners.com.
Study Hall Schedule
| Topic | Date |
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Regulations Update |
Thursday, October 9 2:00 to 3:30 Eastern |
All About Collections |
Thursday, December 11 2:00 to 3:30 Eastern |
Conference Schedule-See you there!
Representatives from Campus Partners will attend the following conferences.
The Minnesota Collection Network will hold its meeting October 20-22 in Bloomington, MN at the Sheraton Bloomington. More information is available at http://www.mnnetwork.org/.
Cutoff dates for September, October, November, and December are presented below:
Transaction
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Sept. 2008 |
Oct. 2008 |
Nov. 2008 |
Dec. 2008 |
|---|---|---|---|---|
Last day to receive collection payments |
9/23 |
10/28 |
11/21 |
12/26 |
Last day to receive regular payments |
9/24 |
10/29 |
11/24 |
12/29 |
Last day for online payments |
9/26 |
10/31 |
11/26 |
1/2 |
Date final post begins |
9/26 |
10/31 |
11/28 |
1/2 |
Report date used for final post |
9/30 |
10/31 |
11/30 |
12/31 |
Last day deposits created for deposit to bank account |
9/26 |
10/31 |
11/26 |
12/31 |
2009 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 2008 |
12/26/2008 |
12/29/2008 |
1/2/2009 |
1/2/2009 |
12/31/2008 |
12/31/2008 |
January 2009 |
01/27/2009 |
01/28/2009 |
01/30/2009 |
01/30/2009 |
01/31/2009 |
01/30/2009 |
February 2009 |
02/24/2009 |
02/25/2009 |
02/27/2009 |
02/27/2009 |
02/28/2009 |
02/27/2009 |
March 2009 |
03/24/2009 |
03/25/2009 |
03/27/2009 |
03/27/2009 |
03/31/2009 |
03/27/2009 |
April 2009 |
04/27/2009 |
04/28/2009 |
05/01/2009 |
05/01/2009 |
04/30/2009 |
04/30/2009 |
May 2009 |
05/26/2009 |
05/27/2009 |
05/29/2009 |
05/29/2009 |
05/31/2009 |
05/29/2009 |
June 2009 |
06/23/2009 |
06/24/2009 |
06/26/2009 |
06/26/2009 |
06/30/2009 |
06/26/2009 |
July 2009 |
07/28/2009 |
07/29/2009 |
07/31/2009 |
07/31/2009 |
07/31/2009 |
07/31/2009 |
August 2009 |
08/25/2009 |
08/26/2009 |
08/28/2009 |
08/28/2009 |
08/31/2009 |
08/28/2009 |
September 2009 |
09/25/2009 |
09/28/2009 |
10/2/2009 |
10/2/2009 |
09/30/2009 |
09/30/2009 |
October 2009 |
10/27/2009 |
10/28/2009 |
10/30/2009 |
10/30/2009 |
10/31/2009 |
10/30/2009 |
November 2009 |
11/20/2009 |
11/23/2009 |
11/25/2009 |
11/27/2009 |
11/30/2009 |
11/25/2009 |
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 |
01/29/2009 |
01/29/2009 |
01/31/2009 |
01/29/2009 |
