June 28, 2016

  • ARM Payments: The guidelines distributed (5/3/16) are in effect and will be used by IU going forward. Please make sure you reference the email I sent out with the subject of, “New Eduplan Guidelines” for review. If you do not have this, please let me or your ADOFP know ASAP! The minimum payment for any ARM loan must be $25.00/month. The $25.00 payment will only be available to those who meet the criteria, so please make sure you familiarize yourself with those guidelines.
  • UEH Appeal Process: Students who start school with us on a UEH appeal (UEH Probation) will not receive a tablet for at least the 1st two modules. CFA will review the student’s GPA at the end of their 2nd module and if they are at a 2.0 GPA or higher, they will qualify for Title IV funds (including the 1st Pell Disbursement). If they are not at a 2.0 GPA by the end of the 2nd module, CFA will check again after the next module to see if they have a 2.0 GPA or higher. If by the end of the term (4th module) the student does not have a 2.0, the student will have failed the UEH probation and must be cash-pay.

June 27, 2016

  • New Interest Rates
  • Scholarship Deadlines – The deadline to apply for the “Your Future Scholarship” is one week prior to the start date. This is technically EOB on Monday of week 4, but we should always push to have it completed earlier.
  • Dependents Other Than Children – CFA is cracking down on these to ensure students are not abusing it. If they claimed them on their taxes then CFA will accept tax transcripts showing they claimed someone other than a child. If they did not claim them on taxes, then CFA will need the dependent other than child removed. More details to come…
  • AC in CVue – Please update who the AC is in CVue. This is something that the auditors have seen that is incorrect a lot of the times.
  • Carryback Funding & $32 ARM Loan – The carryback amount has been removed as an option, per the DOE. Even though $32 ARM may seem small, CFA would like us to create the loan. It is easier to work with someone on adjusting an existing loan, than it is to set one up down the road.

June 16, 2016

  • Helping Students – There are many occasions when a student will get into contact with someone in the financial aid department that may or may not have been their original planner. I would like to encourage all of you to see if you can personally help the student, before you spend time trying to find out who they need to be directed to. On many occasions the questions are simple and can easily be answered. While there is nothing wrong with directing a student to the appropriate party, there are times that these situations can be handled quickly, providing our students with a much more satisfying experience.

June 10, 2016

  • Emailing Through CVue – If you email a student through CVue and you are not the FP listed on their account, then it will look like it came from whoever the FP is that is listed. When emailing a student who is not yours, please use your Outlook.
  • Money Paid/Received *Update* – Only for depend students: If the parent gives the student money or pays a bill for the student it does not need to be added to the ISIR as money paid/received. If any person other than the student’s parents gives the student money it needs to be added. The FAFSA states, “Money received, or paid on your behalf, not reported elsewhere on this form. This includes money that you received from a parent whose financial information is not reported on this form and that is not part of a legal child support agreement”.
  • Auto Pay – When a student is approved for ARM with an auto payment then there must be proof in the file that it was set up. Erin will be adding this to the checklist for next MOD.