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| ABACC Monthly Newsletter |
May 2010 |
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Time to renew your membership!
It's easy!
- Update your directory listing (use the renewal form sent to you by email on May 1st).
- Remit your membership dues by September 1st.
Or, just give us a call and we'll take care of it over the phone! Toll-free 877-303-8666 |
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Upcoming Events
Michigan Institutions Roundtable
July 13, 2010
Cornerstone University
Would you like to plan a regional roundtable in your area? Let us know!
52nd Annual Conference
February 2011
Orlando, Florida
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| Board of Director Notices
May:
Board Meeting
May 20-22, 2010
St. Louis, MO
May/June
Annual audit underway.
For additional instructions see the Board Calendar on the Board Member Resources page of the ABACC website. |
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Getting To Know Our Members
John Brown University
Siloam Springs, AR
Kim Hadley
VP for Finance & Administration |
The Impact of the Federal Direct Loan Program on Students and Institutions, Winners and Losers
Harry Weber, Weber & Associates, Inc.
The purpose of this article is compare the FDSL and FFELP programs and to give opinion as to winners and losers but not to get into the details of interest rates, loan fees and repayment plans. The realities are that once you leave the halls of the Congress the winners are very difficult to identify and unless one has experience with the Federal Direct Loan Program (FDSL) process one would be led to believe that the Direct Loan Program is better than the Federal Family Education Loan Program (FFELP). Having had over 30 years experience with the FFELP and its predecessor the Guaranteed Student Loan Program (GSLP), and over 10 years experience working with the FDSL Program, I feel well qualified to compare the programs from the perspective of students and institutions.
The Institutions Will Be The Big Losers As Administrative Duties Will Substantially Increase. No one in the Administration or the Congress seem to understand the full ramifications involved with administering the Federal Direct Loan Program. It may be, as has been claimed, a bit easier for the students, but any institution having participated will affirm that the administrative and computer related tasks associated with the Federal Direct Loan Program greatly exceed those of the Federal Family Education Loan Program. The duties in the business office will also increase. First and foremost the institution's financial aid staff will need to be far more computer savvy than in the past because of the regulations in the Direct Loan Program require the use of Direct Loan software issued by the Direct Loan Program or written by the institution to mirror the program software. The best way to understand the processes involved with the two programs is to do a side by side comparison of the required duties at the institution. Listed here you will see the duties required for the FFEL Program and the duties required with the Federal Direct Loan Program. Institution administrators have begun to ask the "what happens now" questions and we have provided the final paragraphs of this article the best answers possible at this time.
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Job Openings Currently Listed on
ABACC's CAREER CENTER
Chief Financial Officer, San Antonio, TX
Full-time Business Faculty, Bemidji, MN
Head Women's Basketball Coach, Lancaster, PA
Professor, Health & PE, Lancaster, PA
Ass't Professor, Church & Ministry Leadership, Lancaster, PA
Foundation Executive Director, Athens, WV |
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Grammy and Dove award winning recording artist Steve Green to sing at 2011 ABACC Annual Conference.
Throughout his years of ministry, Steve's music has been honored with four Grammy nominations, 13 number one songs, and seven Dove Awards, Christian music's highest honor. With 29 recordings to his credit, Steve Green has sold over three million albums worldwide.
Join us in Orlando for a wonderful evening of fellowship and worship. | |
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