Happy Thanksgiving

As you prepare to settle down for what I trust will be a joyful Thanksgiving Holiday with family and friends, I hope you will take a few minutes to catch your breath and think about all that we have to be thankful for.  Sure, we live in this “crazy” world of financial aid where the rules are always changing, students always need money, and there is never enough to go around. 

However, I’m thankful for the students who are helped by the money we have and the lives that all of us play a part in changing for the better.  Your job as a financial aid administrator is to help the dreams of our students become a reality, and because of the work you do countless students will have a better life in the long run.

This time of the year I am reminded of how thankful I am for my family and the loving support they give me each and every day.  I am also thankful to work in a profession with so many people who sacrifice of themselves to help make better the lives of the students we serve.

Thank you for all you do, and I pray that you and your family will have a peaceful and relaxing Thanksgiving holiday.

Brad Barnett

SASFAA President

What happens with the anticipated failure of the Super Committee?

http://www.nasfaa.org/Advocacy/Debt-Ceiling/Impact_of_Budget_Control_Act_Across-the-Board_Reductions.aspx

The Budget Control Act was signed into law on August 2nd, 2011.  This Act increased the debt ceiling by $2.4 trillion.  How did this effect student aid programs?

1)      Elimination of in-school interest subsidy for grad and professional students (no more sub!)
2)      Additional $17 billion for Pell for FY12 and FY13
3)      Elimination of Direct Loan repayment incentives
Also created the 12 member Super Committee tasked to come up with legislation creating at least $1.2 trillion in deficit reduction by November 23rd.

Effects of sequestration (automatic spending cuts)?

http://www.nasfaa.org/Advocacy/Debt-Ceiling/Impact_of_Budget_Control_Act_Across-the-Board_Reductions.aspx

Congressional aides are reporting that forgoing any unforeseen circumstances, the Super Committee will announce TODAY their failure to reach a deficit agreement deal.  Even IF a deal is reached, the CBO (Congressional Budget Office) would have to review the legislation prior to being sent to Congress.

Nonexempt, discretionary programs would be reduced by an estimated 7.8% across the board cut according to the Congressional Budget Office.  Pell is exempt from any across the board cut.  These cuts would go into effect in FY13 – January 2013 AFTER the 2012 election process.

Funding for the U.S. Department of Education would be reduced by $3.54 billion as a result of sequestration.

SEOG, FWS, and Federal TRIO programs and GEAR UP would see a total of $221.8 million in cuts, affecting millions of students.

http://www.nasfaa.org/Advocacy/Debt-Ceiling/Automatic_Spending_Cuts_Loom_as_Deficit_Committee_Prepares_to_Dismantle.aspx

As a result of the looming Super Committee’s failure, it is likely they will dismantle the Committee and discontinue negotiations.  Any failure to meet the November 23rd deadline will revoke the power given to the Committee to “protect their-debt-reduction package from Congressional procedures to block legislation.”

Stay tuned for more on As the Financial Aid World Turns…

SASFAA Legislative Relations Committee

Super Committee Update

Members of the Super Committee (12 Congressional Leaders) were charged with trying to arrive

at $1.2 trillion in budget cuts.  Congressional sources indicate that no deal will be reached.  Aides are trying to focus on how to announce to the nation that no deal has been reached.

A senior Democratic aide has indicated that talks are over to reach a deficit reduction agreement.  No final decision has been made, however, barring an unforeseen breakthrough, the "no-deal" announcement is looming.

The Congressional Super Committee was tasked with proposing ways to reduce deficits by at least $1.2 trillion over the next 10 years to stave off automatic spending cuts, known as a sequester.  7 out of the 12 Super Committee members would have to approve a deficit reduction plan in order to send it to the both houses of Congress in the form of legislation.

Then both chambers of Congress would vote on the legislation without amendment by December 23rd.  For the legislation to pass, a simple majority would be required in each chamber of Congress.

Failure to pass any agreement could result in $1.2 trillion in automatic spending cuts across much of the federal budget starting in 2013, evenly divided between defense and non-defense spending. Defense Secretary Leon Panetta warned Congress this week that such cuts could cripple the American military establishment.

Since Congress made the law governing the sequester, it can also amend or repeal it, as some lawmakers are suggesting.

SASFAA Legislative Relations Committee

Amy L. Berrier

Assistant Director for Operations

The University of North Carolina at Greensboro

Financial Aid Office

723 Kenilworth Street

PO Box 26170

Greensboro, NC  27402

SASFAA Board sends letter to Washington

Greetings SASFAA -

President Brad Barnett and I were authorized by the SASFAA Executive Board at last week's meeting to compose and send a letter to all Senators and Representatives in the SASFAA states.  The letter asks for support of the student financial aid programs as well as opposes cuts to these programs pending a looming Super Committee failure.  A failure by the Super Committee would kick off automatic spending cuts - effective January 2013.  A letter was faxed to all 18 Senators and 93 House of Representative Members today.  We want to express our thanks to NASFAA for providing the template that we used as the foundation for crafting our letter.

Feel free to let Brad or myself know if you have any questions.

Thanks,

Amy Berrier

SASFAA Legislative Relations Chair

Brad Barnett

SASFAA President

November SASFAA Board Meeting Review

Good afternoon SASFAA,

The SASFAA Executive Board met November 16 -18 in Greensboro, NC.  The following is a summary of some of the highlights from the meeting.  This is not an all-inclusive list of everything that was discussed.  You will be able to find more details about the meeting in the minutes, which will be posted to the SASFAA website following their approval at the February meeting. 

·         The Board approved slate of candidates for the office of President-Elect, Vice President, and Secretary.  You will hear more about this from Past President Sandy Neel as we get closer to the beginning of the election process.

·         The Board approved changes to the SASFAA Policy and Procedure Manual for our new blog, including converting the Newsletter Committee to the Communications and Outreach Committee.  I hope you have been enjoying the blog so far.  SASFAA appears to be only the 2^nd financial aid association in the country to move to a blog format in place of a newsletter, so we are entering unchartered territory here.  This update to our manual is going to provide some operational structure as we move forward determining the most effective way to use this format.

·         The Board approved updates to the financial sections of the SASFAA Policy & Procedure Manual and Guide to Financial Management.

·         The Board reviewed reports from the various SASFAA committees regarding their work so far and plans for the near future.

·         The Board approved a site location for our the 2012 Transition Board Meeting

·         The Board approved a location for Summer 2012 New Aid Officer’s Workshop.  You will hear more about this from the SASFAA Vice President, Runan Pendergrast. 

·         The SASFAA Operational Calendar was updated.

·         The Board approved the February 2012 Annual Conference Fee and we are happy to report that conference planning is well under way.  It appears we have a great line up of speakers from the Department of Education, NASFAA, as well as aid officers companies from within and without the SASFAA region. This includes two pre-conference workshops. You will hear more about this from SASFAA Conference Chair, Shelley Park.

·         The Board approved sending a letter to the House of Representative members and Senators in support of student financial aid.  We are using the NASFAA templates as the guide for crafting our letter. This template can be found at http://www.nasfaa.org/advocacy/budget-2012/Act_Now_to_Prevent_Cuts_to_Pell_Grants.aspx.

·         Issues related to the transition of moving SASFAA from ATAC to Wild Apricot for hosting our website were discussed, including some decisions made regarding the transfer and storage of data.  This move will save SASFAA thousands of dollars and will occur at the beginning of the 2012-13 SASFAA year.  There is a lot of work that has to take place between and then to make that transition happen.

·         For various reasons SASFAA has not rotated between the 9 states for our annual conference for the past few years, and it appears this many continue for the foreseeable future.  Every effort is being made to find central locations that provide the best opportunity for as many SASFAA members as possible to attend this very important training event.  The Board realizes that one of the drawbacks of not rotating between all states is that each state will not have the opportunity to benefit from the charity project, as the charity is generally an organization from the host state.  For that reason the board voted to create a state rotation for the purposes of the charity, beginning with the 2012 conference in North Carolina.  A charity in North Carolina will be the recipient of our fund raising efforts at the 2012 conference.  In 2013 it will be a charity in Georgia to coincide with our 50^th anniversary conference.  After that the charity will rotate to another state, even if that state is not hosting the conference. The state order will be determined at the February Board Meeting.

·         The Board reviewed the Financial Aid Shopping Sheet that was created in collaborating between the Department of Education and the Consumer Financial Protection Bureau.  The board created a three page document outlining questions, concerns, and recommended adjustments to this proposed sheet.  The document has been shared with NASFAA, who is working with the financial aid association leaders to collect information about this new initiative.

·         Each of the 9 SASFAA states provided a report to the board of what is happening in their states and with their associations.

Have a great day and wonderful Thanksgiving!

Brad Barnett

SASFAA President

SASFAA Board Meeting

Good morning SASFAA,

The SASFAA Board is meeting November 16-18 in Greensboro, NC.  Please let me know if there is anything you would like the board to discuss at this time.  You can send me an e-mail at barnetbd@jmu.edu.

Have a great weekend!

Brad Barnett
SASFAA President

SASFAA President-elect Reports on NASFAA Board Meeting

Part of my responsibility as SASFAA President-elect is to submit a report to the SASFAA Board providing an update on NASFAA activities.  While this report does not encompass everything that is going on in NASFAA right now, it provides a brief overview of some of the things that have taken place. 

NASFAA Fall Report to SASFAA    

ü  NASFAA conducts Standards of Excellence Reviews (SOE) for schools who would like to have their Financial Aid Office reviewed as a result of an anticipated program review or a change of leadership at the school or other reasons.  NASFAA has seen an increase in the number of reviews provided to schools.  During the 2009-2010 year NASFAA had 43 schools requesting a cost estimate for a review.  The 2010-2011 year saw 101 cost estimates.  The first quarter of 2011-2012 has seen 47 cost estimates.  NASFAA does charge a fee for this service, but it is worthwhile.

  

ü  NASFAA saw an increase of conference attendees in Boston this summer compared to prior years.  Boston had 2,374 attendees where Denver 2010 had 1,788 and San Antonio 2009 had 1,845.  It is good to see things picking up.

ü  NASFAA training has several methods to provide training to the Financial Aid Profession.  This fall NASFAA made available to the states and regions a training module on Satisfactory Academic Progress.  NASFAA also has a webinar series.  On December 16^th Cash Management, February 2012 Summer Issues, March 2012 Default Prevention Strategies, May 2012 Reviewing Education Programs for Title IV Eligibility, and June 2012 Hot Issues.  A NASFAA member could have purchased the package when they renewed their membership or they can make a single purchase.  Single purchase is $105 per webinar for members and $210 for nonmembers.  NASFAA is offering for 2011-2012 a training track for states and regions at their conferences.  SASFAA, of course, is participating.  Also we have five of our nine states participating this year (AL, FL, GA, SC, and VA).  NASFAA is also developing a credentialed training program.  Options for credentialed training will include online courses, self-study guides or even an on-site service. 

ü  NASFAA’s membership is up 140 institutions year to date at the end of October.  This is great news.

ü  NASFAA is seeing an increase to their social media.  Facebook has 34 new followers and Twitter has 96 new followers.

Jeff Dennis

SASFAA President-elect