Orange Team work to develop and implement options to identified issues. This year’s assembly theme is “Sharing Solutions – Gaining the sting.” Presenters include Phil Boyce and Mike Ludwick from UVA OSP. UVA is one in all 5 institutions in Virginia who use the CSS/Financial Aid PROFILE. Reimagined PROFILE – Work is constant on an improved CSS/Financial Aid PROFILE that makes use of OCR expertise and interview fashion inquiries to simplify and streamline the applying process for households and to offer more accurate knowledge to varsities. The data and coaching obtained at these conferences will enable the financial assist workers to higher counsel families on the applying course of and to information the establishment of institutional policies that move towards vertical and horizontal fairness. The College Board sponsored two conferences in October, during which members were invited to hear about modifications to the appliance for the upcoming yr, obtain in-depth and arms-on coaching on its functionality, and touch upon how to achieve vertical and horizontal equity in the necessity evaluation methodology. SFS employees working in monetary assist attended one or each of these conferences. Prior Prior Year (PPY) – The President lately accepted using Prior Prior Year earnings on the FAFSA (Free Application for Federal Student Aid), the application used to determine eligibility for federal student assist.
UVA has introduced its assist for and use of PPY income in its want analysis and in determining eligibility for institutional monetary help, aligning institutional coverage with federal coverage. The FP&A coaching program includes the FP&A studying system, examination registration, and a pair of years AFP membership, and will be supplied to UVA staff for $2,000 each. Last yr, greater than 1,000 UVa staff volunteered and accomplished over a hundred projects. The usage of PPY will begin on October 1, 2016 for the 2017-2018 educational yr, three months earlier than when the present FAFSA is obtainable. Your payment is predicated on the present charge and is readjusted after mutually agreed intervals. If you happen to consolidate, your cost could drop to $100. Finally, “tranche warfare,” the typically contradictory fiduciary duties servicers have towards investors holding totally different tranches of securitized pools, could lower their skill or their willingness to switch loans. For example, when you only have $3,000 left on your student mortgage, refinancing probably isn’t a viable choice. When borrowing is important, students should first apply for low-value federal student loans earlier than turning to another scholar loan, which regularly have increased curiosity charges.
Variable charges have a tendency to start decrease but can climb as excessive as 14.70% over the life of the loan. While the interest rates on a private cash mortgage may be increased when compared to a conventional mortgage, the month-to-month payments is likely to be lower. If you’ve taken the SAT longer than 10 years in the past, this question may look familiar. Now is a good time to take a look at our goals for the 12 months. Jumping forward to September, please mark your calendar for the United Way Laurence E. Richardson Day of Caring on Wednesday, September 16. For the first time, we will look to have a division-wide Day of Caring mission. We will need to have a headcount in order to make sure we choose the proper size undertaking. Please email Stacey and Kobby to let them know that you will take part. Stacey Rittenhouse and Kobby Hoffman have agreed to be project leads for our group.
Project Collaboration Tool in dialogue; Coffee with a Colleague initiative carried out; Plan to implement new rewards and recognition program geared towards this concept. As you plan on your skilled development for the coming yr, this could also be worthwhile. Beginning with the 2016-2017 educational yr, undergraduate college students who wish to be thought of for institutional financial assist will probably be required to submit the CSS/Financial Aid PROFILE. Beginning July 1, OSP/FOC will start to restrict critiques to costs transferring on to a G/Z award or between G/Z awards. We’ll not overview transfers between tasks on the identical G/Z award or charges which can be transferring off G/Z awards to non-G/Z awards. The College Board also manages the CSS/Financial Aid PROFILE, an software that collects info utilized by some schools to award institutional financial assist. Other: The Student Aid Funding Model’s (SAFM) integration phase was carried out in May. So what does the SAT must do with financial assist?