IN THIS ISSUE

• 06-07 FORMULAS ADOPTED BY THE BOARD
• 06-07 Brings Change in Evaluation of Selective Service
• UW REFUNDS CRITICAL
• AES Notification List Processing (http://www.heab.wi.gov/finaid.html)
• Notification List and Voucher Processing (http://www.heab.wi.gov/finaid.html)
• Electronic Transfer of Funds - STILL in test
• Upcoming Events (Change in April Board Meeting Date from April 28 to April 21)

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

[Please follow this link to the February 24, 2006 Board Report.]

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.