HESAA State Update
April 11, 2011
Presented by
Michael Angulo
Executive Director
Francine Andrea
Chief Operating Officer
Changes in Higher Education
Governance

Established Governor’s Higher Education Council
◦ Advises Governor on Higher Education matters
◦ Provides recommendations on statewide higher education
initiatives

University of Medicine and Dentistry Advisory
Committee, charged with:
◦ Examining the delivery of graduate medical education in the
state
◦ Developing recommendations on how to improve medical
education
◦ Recommendation due no later than September 1, 2011 after
which committee will expire
Governor’s FY 2012
Recommended Budget

$29.4 billion budget presented February 22, 2011

Budget highlights:
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Restructure public pensions and benefits
Fund increased property tax relief to middle class families
Reduce program funding not sustainable within state resources
Preserve current level of support for higher education
Continues to recognize the importance of student financial aid

Budget proposals will be reviewed by the Legislature
through June

FY 2012 Appropriations Act must be passed by
June 30, 2011
Budget Highlights

HESAA’s proposed FY 2012 budget is $353.3 million,
an increase of $19 million

Included is a recommendation of $25.2 million
increase for FT TAG program

$2.1 million has been requested to fund the PartTime TAG program for county college students

Level funding would continue for Part-Time TAG for
EOF students - $558,000

NJ STARS/NJ STARS II – reduction of $4.7 million

Coordinated Garden State Scholarship (Distinguished
and Urban Scholars) level funding of $3.31 million
with no new recipients
Budget Highlights - continued

Other programs impacted in HESAA’s overall budget:
◦ Survivor Tuition Benefits - $38,000, with no new recipients
◦ World Trade Center Scholarships - $202,000
◦ Dana Christmas – no state appropriation
 Seeking private funding for FY 2012

Primary Care Physician and Dentist Loan Redemption $1.5 million
◦ $375,000 for Nursing Faculty Loan Redemption Program

Veterinary Medical Education Program - $138,000

Social Service Student Loan Redemption Program – no
funding recommended

Teaching Fellows Program – no funding recommended
2010 – 2011 Grants Update

6% increase in applications received

Approximately 75,000 full-time TAG recipients

Estimated full-time TAG expenditure of $291 million

Additional data collection process
◦ Reduced 2010 – 2011 TAG expenditures by approximately
$19 million
2011 – 2012 Grants Update

Additional information collection
◦ HESAA’s link from FOTW went live January 1, 2011
◦ Applicant Information Requests – may respond online

ISIR Correction Processing
◦ To be implemented early April
◦ Processed daily
◦ Accepts student initiated changes when updating estimated
data to completed
◦ HESAA bypasses corrections flagged as PJs
 Submit projected year changes via NJ Change Form

Making Work Pay Tax Credit and Homebuyer Tax Credit
◦ Include when calculating untaxed income for ISIR corrections
in NJ Change Forms
Net Price Calculator

HEOA requires institutions to implement a net price
calculator on their website by November 2011

TAG eligible institutions may choose to link to the
TAG Estimator from their website

Students and parents enter data required to
determine TAG eligibility and print results page

Student would deduct estimated TAG award from an
institution’s net price to determine final net price

HESAA will send FAOs more information on this
process in the near future
Outreach

HESAA’s mission is to provide NJ families and
financial aid administrators with the support,
information and tools to make higher education a
reality

Conducts workshops and presentations to advise
students and families of the availability of financial aid
and the application process
Outreach - continued

College Access Challenge Grant funding supports
financial aid related activities including FAFSA days
and College Goal Sunday

“Reach Higher” – a new workbook funded by the
College Access Challenge Grant developed by
HESAA for high school students
◦ Intended to make high school students aware of the
importance of establishing a strong decision making
process about their postsecondary educational
opportunities
NJCLASS - Goals Accomplished

eSignatures in all online applications
◦ Fixed Rate Program – July 2010
◦ Graduate/Professional – Nov 2010
◦ MedNJ – Nov 2010

In most cases, you will receive a school
certification request the very next day after
the borrower applies/signs
NJCLASS - TILA Compliance

All Applications, as of Feb 14, 2010

Repayment option choice is not confirmed until the
borrower accepts the TILA loan offer
◦ Loan offers are generated after school certification – help your
borrowers preserve their repayment option by certifying as
soon as possible

Email notifies borrowers of loan offers
◦ Reminder emails sent every 5 days
Repayment Calculator