KHEAA Update
March 2005

New Services
KHEAA has implemented the first stages of the Zip Access student aid system. A new secure, simpler sign-on process resulting in more secure data for lenders, schools and students was implemented in February. Over 28,000 students, schools and lenders have registered through the site. KHEAA has also made enhancements to its electronically signed Master Promissory Notes to make the option a more effective tool for institutions. Changes were also made to KHEAA’s internal processes to provide a more secure environment for school and lender information. ExitExpress is a new service that enables KHEAA to retrieve exit data on behalf of schools using Mapping Your Future Stafford exit counseling.

KHEAA’s new ZipDECISION Process, which will offer parent borrowers a choice in how they obtain approval, is expected to be available later this spring.

Legislation
The Kentucky Senate and House of Representatives have passed, and Governor Fletcher is expected to sign into law, legislation that will:

College Goal Sunday
College Goal Sunday was held February 27 and provided one-on-one assistance to students and families in filling out the FAFSA at 19 sites and 18 communities across Kentucky.

FY 2005 Student Aid Disbursements
At the end of February, KHEAA had disbursed:

State Grant Increases
The CAP Grant maximum award for full-time students will increase to $1,700 in FY 2006. The expected family contribution for CAP Grant consideration will remain at 3850.

The KTG maximum award will increase from $2,600 to $2,800. KTG is a need-based grant for students attending private institutions.

Guarantee Volume
KHEAA guarantee volume continues to increase this fiscal year. During the first eight months of FY 2005, KHEAA’s volume, including consolidation loans, increased by 19%. When consolidations are excluded, the increase is 20%.