DID YOU KNOW?

Taken from Finaid-L  - Withdrawal due to Military Service Activation

I was asked to find out what the regulations are for students called to active military duty in the middle of an enrollment period.

Do they need to be considered withdrawn and the normal federal refund calculations gone through, or is there a "leave of absence" period that they can be considered in until a certain point so we don't have to refund.

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The answer seems to be in a part of a series dear colleague letters that were posted  just after the September 11th attack. NASFAA has these letters listed on their site here...
http://www.nasfaa.org/publications/2003/rmilitary010803.html
http://www.nasfaa.org/publications/2003/rmilitary010803.html

The specifics on Title IV refunds is under GEN-01-13, near the bottom. Basically it says if a student has to withdraw due to military activation you must do the Title IV refund calculation as you would anyone withdrawing in mid-term.

Reference for Reporting a Trust Fund as Assets:

If you're interested, check out the following finaid.org link!
http://www.finaid.org/savings/trustfunds.phtml

ED SEEKS REAUTHORIZATION COMMENTS BY FEBRUARY 28, 2003 DEADLINE
http://www.NASFAA.org/publications/2002/gedseeksreauthcomments122302.html

ED has requested comments by February 28, 2003 on the upcoming reauthorization of the HEA. The December 20, 2002 Federal Register Notice (http://www.nasfaa.org/publications/2002/FREDReauthNotice122002.html) announcing the request also provides an introductory glance at Presidents Bush's goals and objectives for higher education, and will serve as an informative document for lawmakers as they review current HEA regulations. Comments may be submitted to ED through a Web site at http://bcol01.ed.gov/CFAPPS/OPE/HEA/index.cfm. Aid administrators may wish to refer to the reauthorization recommendations NASFAA submitted to Congress December 19.

2003-2004 APPLICATION PROCESSING START UP
http://www.NASFAA.org/publications/2003/rappprocstartup010203.html

ED announced the start-up of the 2003-2004 Application Processing System.  FAFSA on the Web and all related Web sites became available on January 1, 2003. The CPS starts processing applications on January 2. This announcement discusses the application processing system, the status of 2003-2004 renewal applications, EDExpress status, Pell Grants and maximum EFC, and IFAP and application processing materials.

2003-2004 EFC FORMULA AND TABLES AVAILABLE
http://www.NASFAA.org/publications/2002/r0304efcformula121202.html

The Department published the 2003-2004 EFC Formula and Tables in PDF format at http://ifap.ed.gov/efcinformation/attachments/0304EFCFormulaGd.pdf. There are three regular (full-data) formulas: "A" for the dependent student, "B" for the independent student without dependent(s) other than a spouse, and "C" for the independent student with dependent(s) other than a spouse. There are also simplified versions of each formula, with fewer data elements. Introductory material on the EFC Formula is also presented.