The Monthly Memo
IN THIS ISSUE
2008-2009 FORMULAS ADOPTED AT THE HIGHER EDUCATIONAL AIDS BOARD MEETING - FEBRUARY 1, 2008
WHEG - TECH
WHEG - UW
WHEG - TRIBAL
Maximum award: $2900 Minimum award: $1000
Inflation Factors: Dependent - 311% Independent - 673%
UW-Madison Tuition: $7,188
Base Maintenance: $10,807
($8,500 - EFC) x 13% = Award
Maximum Award: $1,105 Minimum Award: $429
($5,960 - EFC) x 50% = Award
Maximum Award: $2,980 Minimum Award: $674
($6,560 - EFC) x 27.44% = Award
Maximum Award: $1,800 Minimum Award: $250
WHEG - TECH
WHEG - UW
WHEG - TRIBAL
FINAL VOUCHER FOR 0708 - MAY 16 (Friday)
We have moved the final voucher up a month to May. We need this extra time to ensure we have all funds spent with enough time left to finalize HEAB’s annual accounting procedures.
FUND FOR WISCONSIN SCHOLARS - PRIVATE GRANTS FOR UW AND WTCS STUDENTS
Mary Gulbrandsen, Executive Director of FFWS, and I met in January to discuss this exciting new grant for Wisconsin resident students attending public colleges and universities in Wisconsin. They plan to begin distributing money to students this fall and intend to work with financial aid directors to identify the best practices for awarding the grants. The criteria for identifying students will be determined by mid-February and as soon as information is available I will send it on to all of you.
College Access Challenge Grant
Wisconsin is submitting a proposal for Covenant Related Activities and as details are finalized more information will be sent to the financial aid community.
NO ¢ENTS - IN VOUCHERS OR REFUNDS!! Voucher requests with any amounts that are not whole dollars will be
truncated (not rounded) when processed by the voucher program. These are avoided by rounding awards
up in the fall and down in the spring.
For AES, fall requests MUST be $563 and spring $562. Any fall request that
comes in at a different value (562.50 or 562) will be changed to $563.
WE STILL HAVE A FEW SCHOOLS INCLUDING CENTS IN THEIR REFUNDS! PLEASE HELP US GET THE WORD TO THE RIGHT PEOPLE ON YOUR CAMPUSES THAT WE ARE NO LONGER ACCEPTING CENTS IN REFUNDS!
Beginning in January 2008, if your refunds includes cents, HEAB will return your entire check to your institution. Our new system now accepts only full dollar transactions. Please use standard rounding when determining the dollar amount to be refunded. Sorry for the inconvenience.
Voucher requests with any amounts that are not whole dollars will be truncated (not rounded) when processed by the voucher program. These are avoided by rounding awards up in the fall and down in the spring.
For AES, fall requests MUST be $563 and spring $562. Any fall request that comes in at a different value (562.50 or 562) will be changed to $563.
|Distributed Wednesday afternoons:||February 6, 13, 20, 27
March 5, 12, 19, 26
|Thursdays:||February 14 and 28|
VOUCHER PROCESSING Please check our Webpage for current Notification List and Voucher Processing Schedules.
Tuesdays and Fridays for files uploaded by noon.
GRANTS UPDATES - COMMITTED AND SPENT
|TUITION GRANT (W codes 6/21/07)|
|WHEG-Tribal (W coded 08/08 with preference to applicants before 06/30)|
Scheduled HEAB Board Meetings: February 1, 2008; April 4, 2008 (if needed); August 8, 2008
College Goal Sunday: Sunday, February 10 http://wicollegegoalsunday.org
WASFAA Spring Conference: April 23-25, Wausau http://wasfaa.net/events/conferences.asp
Next HEAB Training Date: March 20, 2008
HEAB conducts one-day training programs for new and continuing financial aid administrators. The training session covers all aspects of the programs administered by HEAB, including:
The program begins at 10:00 a.m. and ends no later than 3:00 p.m. It is held at the HEAB offices at 131 W. Wilson St, Suite 902, Madison, WI. We have room for up to 6 people at each session. Please let us know if you are coming to training as materials are printed based on the number of people attending. To register for a session or for more information, please contact John Whitt at (608) 266-1665 or email him at John.Whitt@wisconsin.gov.
Please contact me by phone at (608) 264-6181 or by email at Connie.Hutchison@wisconsin.gov if you have any questions, concerns or comments. Thank you!
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