Campus
Partners
Update Newsletter
May 31, 2005 |
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a printer-friendly Update here! |
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| Campus Partners will be closed on
Monday, May 30
for Memorial Day and Monday,
July 4 for Independence Day. Our online
systems will be available during normally scheduled hours. |
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Perkins
Funding Crisis
The fight for Perkins continues, and Campus Partners is continuing
to aggressively advocate for the Perkins Loan Program. Our employees
have written many letters to our local Congresswoman Virginia
Foxx and Senators Richard Burr and Elizabeth Dole. In fact,
more than 50 employees recently received letters from Representative
Foxx. A few of these employees are pictured on our Web site
with their letters at www.campuspartners.com/news/PerkinsFundingCrisisResourcePage.
The latest call to action involves contacting the Senators from
your state to ask them to co-sign a letter Senator Cantwell
(D-WA) is circulating in support of the Perkins Loan Program.
COHEAO has reported that the letters will be sent to Senator
Arlen Specter (R-PA), ranking member of the Labor, Health and
Human Services Committee, and Senator Tom Harkin (D-IA), ranking
member of the Education Appropriations Subcommittee. According
to Harrison Wadsworth, Executive Director of COHEAO, the letter
“calls for FY2006 Perkins funding on par with FY2005.”
If you have not already done so, please contact your Senator
and ask them to co-sign the letter.
We would like to clarify two issues that have been the subject
of some confusion. On April 28, the House and Senate both passed
the FY2006 budget, with around $7,000,000,000 in budget cuts
to the education program. The Perkins program was not targeted
for elimination by name as it had been in the President’s
budget. This action neither saved nor eliminated the Perkins
Loan Program. Both Senate and House committees will decide which
programs will be eliminated and which will be trimmed. Letting
your elected officials know how important the Perkins Loan Program
is to helping your students achieve their educational goals
can make a difference to the outcome of this battle.
There also seems to be considerable confusion on the part of
politicians and their staff over the Perkins Loan Program and
the Carl D. Perkins Vocational Educational Act. If you receive
a letter from your representative stating their support of the
Perkins Vocational Act, please contact your representative’s
office to clarify which Perkins program you are asking them
to support. Shortly after the budget was approved, the House
and Senate both voted for resolutions in support of the Perkins
Vocation Education Act. At the very least, thank them for their
support of the Vocational Act, but tell them there is one more
Perkins program to save.
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Lender’s
Options for Determining Federal Consolidation Loan Interest
Rates and Permitting Borrowers to Enter Repayment Early
The Department of Education (ED) published Dear Colleague Letter
GEN-05-08 that addresses issues relating to the determination
of consolidation loan interest rates under the FFEL Program
and clarifies the early repayment option available to borrowers
under Section 428(b)(7) of the HEA. In this letter, ED has made
it clear that in-school consolidation of FFELP loans is permitted
if the borrower asks, and the lender agrees, to be placed in
repayment.
Campus Partners has received clarification from ED that “Perkins
loans may be included in the “early conversion”
consolidation loans described in Dear Colleague Letter GEN-05-08.”
ED has also indicated 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.”
To review this Dear Colleague Letter, go to: http://www.ifap.ed.gov/dpcletters/GEN0508.html.
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2003-2004
Campus-Based Awards Closeout
ED announced the closeout of the 2003-2004 awards for the FWS,
Perkins Loan, and/or FSEOG programs based on the final submission
of the Fiscal Operations Report for 2003-2004. Dear Colleague
Letter CB-05-07 offers a series of questions and answers that
explains closeout and provides important information regarding
the notification process. For additional information, go to:
http://www.ifap.ed.gov/dpcletters/CB0507.html.
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Fiscal Operation Report And Application
to Participate
Dear Colleague Letter CB-05-06 provides information
about the Fiscal Operations Report for 2004-2005
and Application to Participate for 2006-2007 (FISAP)
for the Perkins Loan, FSEOG, and FWS programs. While the FISAP
is currently under review by OMB, institutions may use the Draft
FISAP and instruction document that accompanies CB-05-06
to prepare for final submission of the school’s information.
ED notes that there are no substantive changes or added new
data fields to the FISAP, although this Dear Colleague
letter draws attention to a change made to enhance the clarity
of the instructions on how to report the unduplicated number
of Perkins Loan borrowers. The FISAP is due Friday, September
30, 2005 this year since October 1 falls on a Saturday. Below
is a summary of the changes:
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A change was made to enhance the clarity of the instructions
for Part III, Section B, Field 8, Column a and Field 9,
Column a. These instructions explain how to report the unduplicated
number of Perkins Loan borrowers.
Campus Partners submitted a request to the Department of
Education (ED) for changes to Part III, Section B., Item
Numbers 8. and 9. Schools were not being given credit for
the collection of borrower payments whose loans were paid
in full. Based on the revisions included in this document,
these changes have now been included to count borrowers
whose loans are in default more than 2 years and up to 5
years (8.), as well as borrowers whose loans are in default
more than 5 years (9.) that are paid-in-full. Programming
to update these fields will be completed by June 30, 2005.
- As announced in the Notice of the 2005-2006 Award
Year Deadline Dates for the Campus-Based Programs published
in the Federal Register on March 22, 2005 (70 FR 14450), the
date by which your school must submit this FISAP is Friday,
September 30, 2005. This is a change to the usual October 1
deadline date because October 1, 2005 falls on a Saturday this
year.
- There are no longer any references to the Campus-based Serial
Number on the FISAP. In order to simplify participation in the
Federal financial aid programs, the Department of Education
is developing a new numbering system that will eventually replace
the multiple identifiers currently in use.
To help you get ready
for FISAP reporting, we have included a “How
To” on the subject, and it will be the topic for our
July teleconference. To register for the teleconference, e-mail
Debra Pitts at dpitts@campuspartners.com. To read this letter
in its entirety, go to: http://www.ifap.ed.gov/dpcletters/CB0506.html.
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Revision
of Loan Discharge Applications (Notice)
ED invites comments by July 15, 2005 on the revision of FFEL,
Direct Loan, and Perkins Loan Discharge Applications. These
forms serve as the means of collecting the information necessary
to determine whether an FFEL or Direct Loan borrower qualifies
for a loan discharge based on total and permanent disability,
school closure, false certification of student eligibility,
or unauthorized signature. The school closure discharge application
may also be used by Perkins Loan borrowers applying for a closed
school discharge. To view this document and details on the changes,
go to: http://edicsweb.ed.gov/browse/browsecoll.cfm?pkg_serial_num=2739.
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Audit Update
Campus Partners is pleased to announce the completion
of the first phase of our annual third party servicing audit
by Porter Keadle Moore (PKM). The PKM auditors reviewed our
compliance with servicing regulations mandated by the guidance
applicable to the Compliance Audits (Attestation Engagements)
of the Federal Student Financial Assistance Programs and Report
on Controls Placed in Operation and Tests of Operating Effectiveness
(SAS 70). The initial audit covered the first three-quarters
of our fiscal year, which ends on June 30, 2005. PKM will return
in July to review fourth quarter compliance, and the entire
audit process will be completed by the end of July 2005. We
are projecting the final documentation will be available by
mid-August 2005. To request this material in paper format or
on CD-ROM, please see the attached form. This form is also available
on our Web site at www.campuspartners.com. Please contact your
Customer Service Representative with any additional questions.
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Get
Ready for Year-End Processing
June 30 is just around the corner. Use this checklist to close
your fiscal year successfully:
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Reconcile
loan and accounting information.
· Reconcile all disbursements for the year.
· Correct and return all unpostable new loans and
advances.
· Check and update separation dates.
· Reconcile your general ledger.
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Determine
special needs and communicate them to us.
· Contact your auditors to determine their needs
for reports.
· Provide instructions for special mailing requirements
for year-end reports.
· Submit change/adjustment requests for processing
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Work
the Cohort Default Rate Report.
· Provide your Customer Service Representative with
requests for coding changes.
With the end of the
fiscal year approaching, our goal is to process all requests
for changes in a timely manner. All requests arriving by regular
mail, overnightmail, fax, DataLink Dispatch, or e-mail are
processed in the order that we receive them.
Deadlines
for receipt in our office are:
June
9 Requests for duplicate reports
June
24 Requests for Change/Adjustment memos
July
1 Year-end post begins
Brochure
You may have received a brochure from us recently that introduces
our new marketing campaign. The brochure will be mailed to prospective
customers later this month, but we wanted to send it to our
current customers first. We’ve received rave reviews from
our customers, and David Cox from Spelman College was just one
of the customers who called us to say how much they liked the
brochure. If the brochure went to someone else at your school,
you can find the brochure online at www.campuspartners.com.
Just select the link on the home page. After reviewing it, let
your Customer Service Representative or Account Manager know
what you think.
In case
you did not receive one, click
here to view a pdf of the brochure.
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iPROMise
iPROMise, our online entrance interview
counseling product, may be just what you need to help you award
loans in anticipation of the fall semester. iPROMise streamlines
the award process by allowing your borrowers to complete their
loan interview, download required disclosure forms, and E-Sign
their Master Promissory Note from any computer. By easing the
administrative burden associated with conducting entrance interviews,
you can focus on other details during this hectic season.
For more information about iPROMise, please contact
your Account Manager.
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E-Bill
You know that E-Bill can save your borrowers’
time and money and increase the likelihood of on time payments,
but did you know that E-Bill can help your school save money,
too? Campus Partners offers a per loan discount for every borrower
who enrolls in AutoDraft, our automatic direct draft service,
or E-Bill, our electronic bill presentment product.
We are continuing our campaign to increase borrower enrollment
in E-Bill. Our Customer Service Representatives have been encouraging
borrowers to enroll in E-Bill and we have been inserting flyers
promoting E-Bill in borrower billing statements. If you need
any flyers to distribute to your borrowers, please contact your
Customer Service Representative.
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Web
Conferences
Our first Web conference, which focused on www.MyCampusLoan.com
and E-Exit, was a huge success. We were able to demonstrate
these products to a group of customers as if we were sitting
next to them at their computer. We will be posting a link to
an archived version of the Web conference this Web site soon.
As this Update is being published to the Web on May
26, we will have just presented another Web conference on iPROMise.
Again, we will have an archived version available to you soon.
A Web conference focusing on our Early Intervention
Program, Cohort Right Track, and Enhanced
Service option is scheduled for August 29. More details
will be provided later.
Happy
40th Anniversary, Campus Partners
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Headlines
from 1965
Lost
is Space Premiers |
Teleseminar
Training
Our second year of teleseminar
training was a success. Thanks go to all who participated and
provided feedback. 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.
As we prepare for the upcoming year, we look forward to continuing
this service. 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 to register.
She will notify you of the telephone number that you need to call
in a return e-mail. The training is free and well worth your time.
2005
Teleconference Training Schedule
| June 13, 2005 |
2:00 p.m. ET |
| How to
Read History* |
| 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
Our next Student Loans 101 Workshop is only six weeks
away, so sign up now to ensure a space for yourself and your colleagues.
| Student
Loans 101 |
Student
Loans 202 |
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October
6 and 7, 2005 |
| November
3 and 4, 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 interestedin hosting one of these meetings
listed below, please contact your Account Manager.
| Date |
Location |
Host |
| July 18 |
Ohio |
University of Dayton |
| July 22 |
Washington |
Seattle Pacific University |
| August |
South Carolina |
|
| August 26 |
New York |
Culinary Institute of America |
| October 17 |
Massachusetts |
College of the Holy Cross |
| October |
Georgia |
Morehouse College |
| October |
Northern California |
|
| October |
Southern California |
|
| October |
Nebraska |
|
| TBD |
Pennsylvania |
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Conference
Schedule
Representatives
from Campus Partners will attend the conferences listed below.
NYSOBBA’s
26th Annual Conference will be held on June 5-8 at the
Canadaigua Inn on the Lake in Canadaigua, NY. The number for the
hotel is 585-394-7800. More information is available at www.nysobba.org.
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 the Resort in the Mountain in Mt. Hood,
OR. 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 May, June, July, and August are presented below.
Transaction |
May
2005 |
June
2005 |
July
2005 |
August 2005 |
| Last day to receive collection payments |
5/24/05 |
6/27/05 |
7/26/05 |
8/26/05 |
| Last day to receive regular payments |
5/25/05 |
6/28/05 |
7/27/05 |
8/29/05 |
| Last day for online payments |
5/27/05 |
7/01/05 |
7/29/05 |
9/02/05 |
| Date final post begins |
5/27/05 |
7/01/05 |
7/29/05 |
9/02/05 |
| Report date used for final post |
5/31/05 |
6/30/05 |
7/31/05 |
8/31/05 |
| Last day deposits created for deposit to bank account |
5/27/05 |
6/30/05 |
7/29/05 |
8/31/05 |
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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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