Campus
Partners
Update Newsletter
June 30, 2005 |
Download
a printer-friendly Update here! |
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| Campus Partners will be closed on
Monday, July 4
for Independence Day. Our online systems will be available
during normally scheduled hours. |
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Perkins
Funding Crisis
Campus
Partners staff participated in the COHEAO teleconference on
the Perkins funding crisis in June. Executive Director Harrison
Wadsworth provided an update on the status of legislation impacting
the program for the members who called in. He reported that
an appropriation bill allocating $66 million for Perkins loan
cancellations had passed through the House Appropriations Subcommittee
on Education and was expected to pass through the full Committee
the following week.
Wadsworth termed this as a “positive sign” because
in funding loan cancellations, the committee was recognizing
that the Perkins Loan Program was still authorized to continue.
However, the fact that the subcommittee did not include a Federal
Capital Contribution for the 2005-2006 fiscal year was discouraging.
Wadsworth stated that the Senate Appropriations Committee would
probably begin deliberating on funding for the Perkins program
in July, and the signs were good that they would appropriate
similar funding for Perkins loan cancellations. Because of all
the advocacy efforts on behalf of Perkins, Wadsworth feels that
preserving the Perkins program has a high priority in the House
and Senate.
However,
the House and Senate Budget Resolution committees will have
to reduce education funding by $3 billion dollars over the next
five years. While Wadsworth thinks that the budget can be reduced
without eliminating the Perkins program, the final decision
on the future of Perkins will not be made until mid-September.
On another front, the House Reauthorization Bill (HR 609) is
expected out of the House Committee on Education and the Workforce
in July. The bill reauthorizes the Perkins Loan Program, but
again, the program could be eliminated during the reconciliation
process. The Perkins Loan Program has bi-partisan support among
members of the Senate Committee on Education and the Workforce
and their version of the Authorization bill is expected to make
it out of the committee easily.
Wadsworth says he is “cautiously optimistic” that
the Perkins Loan Program will not be eliminated. He encouraged
COHEAO members to keep the pressure on Congress and the Senate
to keep the Perkins program intact and to restore the Federal
Capital Contribution next year.
On a less positive note, an article in the June 23, 2005 issue
of the Chronicle of Higher Education details recommendations
that the Bush administration sent to Congress earlier this month.
These recommendations mirror the president’s earlier recommendations
to eliminate the Perkins Loan Program. The article concludes
that there is little support in Congress or the Senate for eliminating
Perkins and that Republican lawmakers “have shown little
enthusiasm for ending the Perkins Loan Program.”
We will keep you posted on the Perkins funding crisis and encourage
you to contact your Representative or Senator to voice your
support for the program.
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Early Conversion
to Repayment Due to Loan Consolidation
In
last month’s Campus Partners Update, we published
an article on the recent guidance from the Department of Education
(ED) regarding early conversion to repayment due to loan consolidation.
This guidance is outlined in Dear Colleague Letter GEN-05-08.
Campus Partners received clarification from the ED that this
guidance does apply to Federal Perkins loans and that the request
for early conversion to repayment does not have to be in writing,
but the request must come directly from the borrower. “A
school’s receipt of an LVC from the consolidating lender
does not constitute a request for an early conversion to repayment.”
If you have questions or need assistance in making adjustments
to these loans in order to place the loans into “early
repayment,” please contact your Customer Service Representative.
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Important
Notice: Fiscal Operations Report for 2004-2005
As we published in our May
31, 2005 Update, changes to the Fiscal Operations Report
for 2004-2005 include changes by ED to Part III, Section B.,
Item Numbers 8 and 9. These changes are communicated in Dear
Colleague Letter CB-05-06.
Items 8 and 9 were added to our FISCOP report last year (2003-2004).
Item 8 represents “Total Principal Repaid by Borrowers
from All Sources During the Award year for Loans in Default
for More than 2 Years and Up to 5 Years.” Item 9 represents
“Total Principal Repaid by Borrowers from All Sources
During the Award Year for Loans in Default More than 5 Years.”
The changes for 2004-2005 allow you also to include borrowers
whose loans were paid in full in Items 8 and 9. However, these
borrowers will not be reflected in your June 30, 2005 NDSL (Perkins)
Fiscal Operations Analysis. We will provide you with a separate
document titled Line 8 And 9 Addendum. This report will be available
to you though eXpressReports in July.
In order to get the complete data for these items, follow the
steps below:
-
Add
the amount of “Total YTD Prin Repaid” in the Line
8 Addendum report to the “Amount” (Column B) on
the NDSL Fiscal Operations Analysis.
-
Add the “Program Borrower Count” in the Line 9
Addendum report to the Number of Borrowers (Column A) on the
NDSL Fiscal Operations Analysis.
-
Add the amount of “Total YTD Prin Repaid” in the
Line 9 Addendum report to the “Amount” (Column
B) on the NDSL Fiscal Operations Analysis.
If you
have any questions regarding these changes, please contact your
Customer Service Representative.
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Federal
Perkins Loan Service Cancellation Reimbursement
ED has published Dear Colleague Letter CB-05-08, which provides
information in question and answer format about the 2003-2004
Federal Perkins Loan service cancellation reimbursement process.
To view this letter, go to: http://www.ifap.ed.gov/dpcletters/CB0508.html.
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FSA Handbook for 2005-2006 –
Volume 5
Federal Student Aid (FSA) has posted Volume 5 of the 2005-2006
FSA Handbook: Overawards, Overpayments, & Withdrawal Calculations.
To view this section of the Handbook, go to: http://www.ifap.ed.gov/sfahandbooks/0506fsahandbookvol5.html.
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NSLDS
Announces Two New System Enhancements
NSLDS recently announced two new system enhancements: the storage
and display of Outstanding Principal Balance and Outstanding
Interest Balance history, and the addition of the Conditional
Disability Discharge Tracking System (CDDTS) as a new data provider
to NSLDS. To read more about these updates, go to: http://www.ifap.ed.gov/nsldsmaterials/Newsletter10.html.
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Updated
Draft of 2006-2007 FAFSA Available for Comment
The updated draft of the 2006-2007 FAFSA is available for comment.
This announcement lists some key changes made from the previous
draft FAFSA posting. To view this announcement, go to: http://www.ifap.ed.gov/eannouncements/0608FAFSA2nddraft.html.
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Audit
Update
Our third party audit conducted by Porter Keadle Moore,
LLP (PKM) for the 2004-2005 fiscal year is almost complete,
and their report should be available by mid-August. You may
request a report, which is available on CD-ROM for $75.00 or
in paper format for $100.00 per report, by completing the attached
order form, and we will mail the report when it is available.
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Happy
Anniversary, Charles!
Please join us in congratulating Charles
Parker who celebrated 40 years with our company on June
28. Charles, who is our Comptroller, is featured in our “Inside
Campus Partners” article this month.
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Customer
Testimonial
Sandie
Rosko writes:
“The
University of Washington has done business with Campus
Partners since 1986. During this time, the University
has had many different needs and made many changes in
the way we do our business. Campus Partners has always
met these challenges and needs with a friendly attitude,
open mind and excellent service. Whether you are working
with your school representative, Campus Partners’
compliance specialist, Director of Sales and Marketing,
or anyone else, customer service is their priority.”
Sandie
Rosko is the Manager, Customer Service/Receivables,
Student Fiscal Services, at the University of Washington
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Annual DataStream
CD
In mid-July, we will send all customers a CD-ROM containing
all of their monthly reports for the fiscal year ending June
2005. We compile and mail an annual CD-ROM to customers each
July so you will have it available for your auditors. If you
are new to using a CD-ROM to access reports, you can consult
our DataStream manual, which is available online.
Please call your Customer Service Representative for directions
on accessing the manual or if you have additional questions
about the CD.
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Help Publicize E-Bill
To increase E-Bill enrollment, we have been
including inserts outlining the benefits of E-Bill in your borrowers’s
billing statements and have placed links to E-Bill information
on the home page of www.mycampusloan.com. It is advantageous
to you when your borrowers enroll in E-Bill because the likelihood
of on-time payments increases and your servicing fees are discounted
for every borrower who enrolls in the electronic bill presentment
service.
Contact your Customer Service Representative if you would like
inserts to distribute to your borrowers mailed to you.
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Next Web Conference
Scheduled for August
Our next Web conference, which is scheduled for August
22, will focus on our Early Intervention and
Cohort Right Track programs as well as our
Enhanced Service option. To register, please
e-mail Debra Pitts, our Administrative Assistant at dpitts@campuspartners.com.
The deadline for registration is August 22.
Happy
40th Anniversary, Campus Partners
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|
Headlines
from 1965
Brad
Pitt and
Will
Smith were born. |
Teleseminar
Training
In addition to our Web conferences,
our popular teleconferences series continues. Offering this training
provides us the opportunity to reach out to schools who cannot
attend Student Loans 101 or 202 workshops in Winston-Salem. Each
teleseminar is geared toward understanding a particular area of
student loans and is an opportunity to gain new insight, ask questions,
and hear helpful feedback from other schools.
Please see the 2005 Teleseminar Schedule below.
Teleseminars are usually offered the second Monday of each month
from 2:00 to 3:30 ET. If you want to participate in these training
sessions, just e-mail Debra Pitts at dpitts@campuspartners.com
at least three days before the scheduled teleseminar, and she
will e-mail you the telephone number that you need to call. The
training is free and is well worth your time.
2005
Teleconference Training Schedule
| July 11, 2005 |
2:00 p.m. ET |
| FISCOP
Preparation |
| August 8, 2005 |
2:00 p.m. ET |
| How to
Evaluate Deferment and Forbearance Requests* |
| September 12, 2005 |
2:00 p.m. ET |
| myReports |
| October 10, 2005 |
2:00 p.m. ET |
| What is
Rehabilitation and How Borrowers Can Benefit* |
| November 14, 2005 |
2:00 p.m. ET |
| How to
Use and Interpret Reports from Campus Partners |
| December 12, 2005 |
2:00 p.m. ET |
| Open Topic |
Workshops
There are no spaces left in our Student Loans 101 Workshop
scheduled for July, but you still have another opportunity to
sign up for the November workshop.
| Student
Loans 101 |
Student
Loans 202 |
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October
6 and 7, 2005 |
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Student Loans 101 is designed for student loan administrators
who are less experienced or are new to Campus Partners. Student
Loans 202 is aimed at student loan administrators with more
than one year of experience. The workshops are presented at our
office in Winston-Salem and are hands-on learning experiences.
Each participant will work at their own computer workstation with
experienced Campus Partners staff leading the training. Registration
forms and other information are available on our Web site and
as an attachment to this month’s Update.
Attachments:
Student
Loans 101 Workshop Flyer and Registration
Form
Student
Loans 202 Workshop Flyer and
Registration Form
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Regional
Meetings
Our 2005 Regional Meeting Schedule is listed
below. If you would be interested in hosting one of these meetings
listed below, please contact your Account Manager.
| Date |
Location |
Host |
| July 22 |
Washington |
Seattle Pacific University |
| August 26 |
New York |
Culinary Institute of America |
| September |
South Carolina |
TBD |
| October 11 |
Nebraska |
University of Nebraska-Lincoln |
| October 17 |
Massachusetts |
College of the Holy Cross |
| October |
Georgia |
Morehouse College |
| October |
Northern California |
TBD |
| October |
Southern California |
TBD |
| TBD |
Pennsylvania |
TBD |
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Conference
Schedule
Representatives
from Campus Partners will attend the conferences listed below.
Second Alliance,
Inc. will host its 2nd Annual Conference
on July 10-13 at the Sheraton Universal Hotel in Universal Studios,
CA. The number for the hotel is 818-980-1212. More information
is available at www.secondalliance.com.
The PAC-10 Conference
will be held July 17-20 in Mt. Hood, OR at the Resort at the Mountain.
The number for the hotel is 800-669-7666.
CCULAA
will present its 13th Annual Conference on July
24-27 at the Hyatt Newporter in Newport Beach, CA. The number
for the hotel is 888-421-1442. More information is available at
www.cculaa.org.
The COHEAO Mid-Year
Meeting will be held July 31-August 2 in Newport Beach,
CA.
The Williams
and Fudge Conference will be held September 25-28 in
Myrtle Beach, SC.
The PDG East
Coast Student Loan Conference will be held October 2-5
in Charlotte, NC.
The Texas BUC$
Conference will be held on October 16-19 in Austin, TX.
The MN Collections
Network will be held on October 24-26 in Bloomington,
MN.
The PDG West
Coast Conference will be held On November 6-9 in Austin,
TX.
Virginia’
s FOCUS Conference will be held November 16-17 in Roanoke,
VA.
The Illinois
One Day State Meeting will be held December 9 in Chicago,
Il.
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Cutoff
Dates
Cutoff
dates for June, July, and August are presented below.
Transaction |
June
2005 |
July
2005 |
August 2005 |
September
2005 |
| Last day to receive collection payments |
6/27/05 |
7/26/05 |
8/26/05 |
9/27/05 |
| Last day to receive regular payments |
6/28/05 |
7/27/05 |
8/29/05 |
9/28/05 |
| Last day for online payments |
7/01/05 |
7/29/05 |
9/02/05 |
9/30/05 |
| Date final post begins |
7/01/05 |
7/29/05 |
9/02/05 |
9/30/05 |
| Report date used for final post |
6/30/05 |
7/31/05 |
8/31/05 |
9/30/05 |
| Last day deposits created for deposit to bank account |
6/30/05 |
7/29/05 |
8/31/05 |
9/30/05 |
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| One
Stop Shop
To
resolve technical issues faster, we are merging our Help
Desk with Customer Service. For all your inquiries, please
call your Customer Service Representative. |
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