ࡱ> ;=:_ bjbj 4bb jjjjj~~~~~$!E$b:j:jjO:jjr4#ۑ e0&$$$j(::$ 0: Office of Student Financial Aid Assistance Financial Aid Weekly Brief Thursday, July 26th 2012  CFPB, ED Issue Final Version of Financial Aid Shopping Sheet: The U.S. Department of Education (ED) and the Consumer Financial Protection Bureau (CFPB) issued the revised and  HYPERLINK "http://www.nasfaa.org/WorkArea/linkit.aspx?LinkIdentifier=id&ItemID=10763" \o "final version of the financial aid shopping sheet" final version of the financial aid Shopping Sheet as part of their efforts to make information about the cost of college and financial aid packages more transparent and comparable for students and parents. Ed Secretary Duncan said ED is sending an open letter to all college presidents today to encourage voluntary adoption of the shopping sheet, but made it clear that institutions would not be required to use this Shopping Sheet for their financial aid award letters. Presently OSFA does not intend to create a Shopping Sheet as we are in the midst of using both Hobson's to produce award letters for non-CUNYFirst Colleges and delivered award letters for the CUNYFirst colleges. At this point neither is able to produce an award letter with cost comparisons, loan repayment or default information. CUNY financial aid award letters will be updated for ease of understanding. The Shopping Sheet will be revisited once all colleges have fully implemented CUNYFirst. CS Wave Three Conference Room Pilot (CRP) Participants: CRP sessions for the Wave Three colleges are on-going this week. The purpose of these meetings is to provide Wave Three colleges with a comprehensive understanding of the Campus Solutions modules. These meetings provide a global overview of all modules. July 23 (1-5pm): 230 West 41st Street 10th Floor Conference Room July 24 (9-5pm): Tribeca Performing Arts - Theatre 2 (199 Chambers St) July 25 (9-5pm): BMCC Richard Harris Terrace (199 Chambers Street New York) Final Global CRP will be offered on Monday, July 30 (9-5pm): BMCC Richard Harris Terrace (199 Chambers Street New York) Wave 3 Schools are Brooklyn, City Tech, Medgar Evers and York Colleges and the College of Staten Island. FY 13 Federal Administrative Cost Allowance: OUC has sent information and instructions from William Fox, University Treasurer, about this years distribution of federal financial aid cost allowance. The purpose of the communication is to inform the colleges of their institutional share of the FY13 Title IV Administrative funding. These funds must be used for financial aid related services to students, to enhance the financial aid office environment for students, or to improve the skills of financial aid staff. Distribution of the administrative funding will be released pending completion and submission of the FY12 actual Spending Plan and the projected FY Spending Plan. 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