Monthly Memo
March 2011
In This Issue
- Final Voucher for 1011 — Friday, May 20th
- Refunds are Due NOW
- Covenant Grant Program
- Board Adopts 11-12 Formulas
- Notification List Processing
- Voucher Processing
- Grant Updates — Committed and Spent
- Upcoming Events
Final Voucher for 1011 — Friday, May 20th
Refunds are Due NOW
Also, please be sure to get your refunds processed immediately! An updated refund template is now available at www.heab.wi.gov under Information for Financial Aid Administrators. Please note that refund information goes to: HEABmail [at] wisconsin.gov.
Covenant Grant Program
Covenant grant program layout is still a work in progress; we will be providing the new layout in the April monthly memo.
Board Adopts 11-12 Formulas
At its meeting on Thursday, March 3rd, the Higher Educational Aids Board adopted the following formulas for 2011-2012:
- WHEG – TRIBAL
No change to current formula.
($6,560 — EFC) x 27.44% = Award
Maximum Award: $1,800
Minimum Award: $250
- WHEG – WTC
No change to current formula.
($9,270 — EFC) x 13% = Award
Maximum Award: $1,205
Minimum Award: $529
- WHEG – UW
($5,960 — EFC) x 41% = Award
Maximum Award: $2,444
Minimum Award: $804
- Tuition Grant
Maximum award: $2,900
Minimum award: $1,000
Inflation Factors: Dependent – 340%, Independent – 740%
UW-Madison Tuition: $9,515
Base Maintenance: $10,800
The formulas are based on appropriation recommendations of Governor Walker and are subject to change if the approved budget so requires.
Notification List Processing
Distributed Wednesday afternoons:
March: 2, 9, 16, 23, 30
April: 6, 13, 20, 27
AES notification dates:
March 23
April 20
Voucher Processing
Tuesdays and Fridays for files uploaded by noon.
March: 1, 4, 8, 11, 15, 18, 22, 25, 29
April: 1, 5, 12, 15, 19, 22, 26, 29
Grants Updates — Committed and Spent
| TG (W codes 06/25/10) | Current | This Time Last Year |
|---|---|---|
| Committed | 152.03% | 137.21% |
| Spent | 98.88% | 92.45% |
| WHEG-TRIBAL (W codes 07/10) | Current | This Time Last Year |
|---|---|---|
| Committed | 151.95% | 130.79% |
| Spent | 98.52% | 93.93% |
| WHEG-UW (W codes 7/28/10 & Z codes 9/15/10) | Current | This Time Last Year |
|---|---|---|
| Committed | 129.75% | 125.57% |
| Spent | 99.99% | 95.73% |
| WHEG-WTC (W codes 5/6/10 & Z codes 8/3/10) | Current | This Time Last Year |
|---|---|---|
| Committed | 164.15% | 155.26% |
| Spent | 100.11% | 94.89% |
Upcoming Events
Scheduled HEAB Board Meetings: April 29 (if needed); August 5
WASFAA Spring Conference: April 13-15, 2011 at the Grand Geneva Resort, Lake Geneva
Scheduled HEAB Training Dates: May 19 (Session Full); July 21; September 15
Please contact me by phone at (608) 267-2944 or by email at sherrie.nelson [at] wisconsin.gov if you have any questions, concerns or comments. Thank you!
