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The Monthly Memo
March, 2006

IN THIS ISSUE

06-07 FORMULAS ADOPTED BY THE BOARD
On February 24, 2006, the Higher Educational Aids Board adopted the following formulas:

Tuition Grant
    Inflation Factors: Dependent = 280%   Independent = 627%
    Budget for all Students: $10,444
    UW Tuition for TG purposes: $ 6,280
    Maximum Award: $2,900   Minimum Award: $750  

WHEG - Wisconsin Technical College System
    ($8,000 - EFC) x 12.5% = Award
    Maximum Award: $1,000   Minimum Award: $325

WHEG - Tribal Colleges
    ($6,560 - EFC) x 27.44% = Award
    Maximum Award: $1,800   Minimum Award: $250

WHEG - University of Wisconsin
    ($5,300 - EFC) x 50% = Award
    Maximum Award (Capped): $2,600   Minimum Award: $530

06-07 BRINGS CHANGE IN EVALUATION OF SELECTIVE SERVICE
Because HEAB regulations mirror those of the Federal Government, beginning with the 2006-2007 academic year, HEAB will begin evaluating selective service compliance during the HEAB audit process. Beginning 2006-2007, HEAB will no longer require or accept file maintenance for Selective Service.

UW REFUNDS CRITICAL
Please be sure that all refunds are processed promptly! The UW-WHEG appropriation is written in such a way that refunds received after the end of the fiscal year are returned to GPR - not carried into the next year!! Please get the money in to HEAB so the funds can be processed and sent out to other students.

AES NOTIFICATION LIST PROCESSING
The AES notification list is now distributed through the SECURE HEAB or SSL site.
Distributed after Noon in SECURE HEAB
Every other Wednesday: March 8, 22

NOTIFICATION LIST PROCESSING
Please check our Webpage under Information for Financial Aid Administrators for current Notification List and Voucher Processing Schedules.
Distributed after Noon: March 1, 8, 15, 22, and 29

VOUCHER PROCESSING
Tuesdays and Fridays: March 3, 7, 10, 14, 17, 21, 24, 28, 31

ELECTRONIC TRANSFER OF FUNDS - STILL IN TEST PHASE
HEAB is working with the Department of Administration to complete the testing of the Electronic Transfer of Funds. We have many, many routing and bank account numbers, and we have to ensure that all money is routed to the correct bank and account.

Here is what to expect:

  1. For a short time, you will still be receiving your checks by PAPER. (See voucher processing below for schedule). We will be notified by DOA if any of the routing numbers are incorrect and will contact the affected schools.
  2. When all numbers are verified, we will begin ACH process. I WILL SEND A SPECIAL UPDATE AT THAT TIME and let you know that paper checks are history.
  3. Once the test phase is complete and ACH is running, we will email to let you know when:
    1. a voucher is submitted to DOA;
    2. you can expect money to show up in your account, and
    3. your disbursement file with all detail has been placed in your SSL.

Disbursement Files in SSL Regularly Deleted
HEAB keeps only the 6 most current disbursement files in your SSL folders.

UPCOMING EVENTS

Scheduled HEAB Board Meetings: April 21, 2006 (this meeting will only be held if the HEAB chair, Mary Jo Greene, determines it is necessary); July 21, 2006

Next HEAB Training Date: March 16, 2006

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@heab.state.wi.us.

 

Questions or concerns? I truly appreciate your feedback. Please contact me by phone at (608) 264-6181 or by email at connie.hutchison@heab.state.wi.us.

Connie Hutchison
Executive Secretary

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