New College Independent Alumni/ae Association

Hello New College Folks,

I bear good tidings from the U.S. Department of Education (DOE) today.  Thanks to our hard-working Reimbursement Team, New College’s Financial Aid Office has had 66 student files accepted so far this semester and the acceptance rate and speed has increased dramatically in the past week.  Per our Payment Analyst at the DOE:

“Good Morning:

“Although I cannot tell you specific dollar amounts, I can tell you the following records that were submitted to us

“Submitted       Approved

   14                   0

     3                   3

    64                63

“The majority of the packages submitted to us are being approved by us.  The College needs to submit more packages for us to review.  The majority of the packages submitted so far have been law school students.“

Also, “I’m sorry that the College has not processed your financial aid yet.  I think they are beginning to process a lot more students now.  As long as the packages are all in order, they are approved right away.

“I hope you’ll be able to receive your financial aid soon.“

This is extremely good news, because the “normal” period for HCM2 file review is 30 days, but it is at the Payment Analyst’s discretion whether the DOE takes longer or requests more verification.  Also, keep in mind that we must submit 6 clean submissions in a row before the Feds can cut us any more procedural slack.  As of last Friday, the DOE said “They have now submitted a new package of approximately 64 students.  We will look at that package and see if we can pay on those files.“  A week later, the Feds approved 63 out of 64.  This can only mean that our Payment Analyst has taken mercy upon us and is expediting New College’s Financial Aid files and for that I am extremely thankful.

~Quanyin

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