From the President
March
2004

As I write my final article "From the
President", it seems hard to believe that almost a year
has past since the gavel was passed to me. This time has gone by
quickly and I've really enjoyed the opportunity to serve NeASFAA in
this role. It has been a privilege to work with a great Board of
Directors and dedicated committee chairs and committee members. I
thank them, and all of you, for your support - it really has made a
difference.
As NeASFAA President, I currently serve on the RMASFAA Board of
Directors. This has been a great experience, especially since the
2004 RMASFAA Conference is in Omaha. Judi Walker and the Conference
Planning Committee are working diligently to organize this event.
This is our opportunity to showcase Omaha, and the state of
Nebraska, so it would be wonderful to have strong attendance from
NeASFAA members. The service organization we will be supporting at
the Conference is Habitat for Humanity. This is exciting as it
appears that we may even have the opportunity to participate in a
build!
In other news from the RMASFAA winter board meeting, we learned
that the format of the Summer Institute will change rather
dramatically. Summer Institute will consist of five tracks geared
toward everyone from neophytes to seasoned financial aid veterans.
Although the training will still focus heavily on the NASFAA Core
training materials, the tracks will have a little more crossover in
topics than they have in the past. It'll be "A Gem of an
Opportunity", and I encourage you to attend if you
can.
Finally, don't forget that our Spring Conference is right around
the corner. It will, once again, be a great opportunity to learn
and network with your fellow NeASFAA colleagues. I hope to see you
all there!
Take care,
Deana
News Room
Leadership Book
Review
By Melinda Hogeland
If you are an individual that seems to find yourself attending
meetings more times than not, then you may want to check out an
interesting book called How To Make Meetings Work by
Michael Doyle and David Straus.
When I picked this book off the shelf I was thinking to myself
that this was just another self help book designed to tell people
what they are doing wrong, however, it really does offer some great
tips if you attend meetings on a regular basis. The book covers a
variety of topics including starting and ending meetings on time,
designing agendas that are practical, keeping an agenda on track,
dealing with people that talk or criticize too much, increasing
group participation, and nailing down accountability amongst group
members.
If you're not acting as the meeting "organizer", the
book does cover a variety of topics that can make you a better
meeting participant. This includes such ideas as how to be a good
note taker or group recorder, how to be a good listener, how to
help the meeting facilitator stay on track with the agenda, and
even some ideas on where to sit while at the meeting.
We all spend time attending meetings either on a daily or weekly
basis. These meetings may be work related or not. So if you are
looking to "touch up" your meeting skills, either as the
organizer or meeting participant, I would recommend reading a copy
of How to Make Meetings Work.
(The Communications Committee will be giving away 3 copies
of this book at Spring Conference. Good luck!)
TOP
Default Prevention
Listserv Now Available
Following discussions with the U.S. Department of Education,
Rutgers University agreed to host a National Default Prevention
Listserv. This list has been in operation since November 2003, and
currently has 450 subscribers. The list is open to all financial
aid officers, lenders, servicers, guarantors, education department
personnel and their contractors. It provides an opportunity to
exchange information about default management best practices and
available services. ED's Federal Student Aid Office will post items
of interest to the financial aid community on a monthly basis. All
financial aid professionals are invited to contribute to the
discussion.
To subscribe to the list, send a message to
LISTSERV@EMAIL.RUTGERS.EDU with the command
"SUBSCRIBE DEFAULT_PREVENTION@EMAIL.RUTGERS.EDU your
name" in the body of the message.
TOP
You're Not Running
for Congress?
By Dan Brent
Citibank
In January I listened to President Bush's State of the Union
Address.
Well, that's not entirely true. I actually listened to about
five minutes of the address. I turned it off, annoyed with the
partisanship of the remarks. I perceived it as an "Us and
Them" speech. It wasn't really George W. that annoyed me.
It was the partisanship of the whole political system that we have.
I was just as annoyed at Ted Kennedy sitting on his hands suffering
through the event. "Us and Them".
I've heard the English adversarial system that we've adopted for
our courts described as a terrible system - but the best that
anyone has ever come up with. Maybe the same can be said for our
adversarial political system - terrible but the best we can do.
There are those who have power and then there is the "loyal
opposition".
But it still seems sad to me. I remember trying to get to sleep
that night and being kept awake by formulating my own version of
the "State of the Union" speech.
"My colleagues in the Congress. Each of you has been sent
here by your constituents to create for this nation the best that
our resources can provide. The same is true of me. And, even though
this is an election year, it is incumbent on us - you and me
together - to dream our best dreams for this country and concoct
the best plans and programs that we can create together.
"And it doesn't matter who gets credit. What matters is
that we look after our less fortunate brothers and sisters, educate
our children, provide for the safety of our citizens, and find ways
to be a good neighbor to the world community.
"To do that we must work together. The energy we spend
fighting each other is lost to the real common cause on which we
are elected to deliver. When we - or our predecessors - have
accomplished anything in the past, it has been by compromise. But
even that is settling for half. That's no longer enough. We need to
develop a mind-set of consensus. That means we listen to each
other, debate until we understand the pro's and con's, and then
commit to the best we think we can do. Together.
"So ask not how we can thwart each other's plans. Ask
rather how we can pool our wisdom and enthusiasm to create our best
America together."
Naive. I know. Politics will never be that way. I know.
But what about your office? Congress isn't the only place where
options are argued out, plans are made, and winners and losers are
created. The effectiveness of your collective service to your
students is dependent on your collective ability to buy into a
common vision and work together to pursue it.
I do a training session that puts people into small groups and
requires them to reach some group decisions. I listen in to the
discussions. Almost invariably, each group will afterwards proclaim
that its decisions were reached by consensus. Having listened in, I
know better. Most often the truth is that the decisions were
reached by majority rule, or by what I call the "tyranny of
the vocal", or by manager's edict. Consensus happens when
everyone's thinking is heard out for its merits and then each
individual agrees to support the ultimate decision. Getting to that
point takes time and finesse. Rarely do groups have the patience
and skills to achieve it.
But how worth it the effort is! At your place the stakes aren't
as high as they are for Congress. But - until you get elected to
Congress or the Presidency - it's the world you can influence.
Together.
Dan Brent is a Professional Development Officer with
Citibank. He regularly presents seminars for Financial Aid
people.
Committee Corner
March
2004
CORPORATE DEVELOPMENT
COMMITTEE
by Cindi Ramaeker
Since the formal request for Sponsorship Pledges for the
2003-04 year was made via email on July 31, 2003, commitments and
payments include:
- 17 responses with paid sponsorships totaling $12,500
- EducationQuest Foundation has agreed to a Philanthropy Match up
to $1,000
- 14 commitments to exhibit at the Spring '04 Conference
I would like to thank the following organizations for their
support of NeASFAA:
ASAP/Union Bank & Trust
Citibank
College Board
Educaid
EducationQuest Foundation
First National Bank of Omaha
First National Beatrice
Foundation for Educational Services
Iowa Student Loan
National Student Loan Program
Nelnet
NSA
Platte Valley State Bank
Sallie Mae
TERI Education Loans
U.S. Bank
USA Funds Services
Wells Fargo EFS
Comparing this year to last year, we have $650 less in
sponsorship pledges and 3 fewer exhibitors. In January 2004, email
communications were sent to Commerce Bank and Wyoming Student Loan
Corporation offering them the opportunity to be a
sponsor/exhibitor.
In the upcoming weeks, our committee will begin to work closely
with the Associate Sector on the philanthropy project for the
Spring '04 Conference.
TOP
AWARDS COMMITTEE
by Joan Jurek
The Awards Committee has been busy preparing for
Spring Conference. Not only do we have the honor of awarding
NeASFAA members for their distinguished service, we have a lot fun
honoring those deserving of a "fun award." Although, it's
too late to nominate for the prestigious awards, please keep in
mind those members who should be recognized for a fun award. We
have some great stories. If you have one to share, you may contact
any one of the following committee members:
Joan Jurek, Chair
Kathy McConnell, Co-chair
Kay Dinkelman
Steve Millnitz
Tammi Preston
We look forward to seeing you at Spring Conference!
TOP
PROFESSIONAL DEVELOPMENT
COMMITTEE
by Mark Krings
Spring is right around the corner and so is the NeASFAA
Spring Conference in North Platte. The conference is scheduled for
April 14 -16. If you plan to attend, you can register on-line. If you are
planning to stay over at the Quality Inn and Suites, please take
the time to make your room reservations as well.
The agenda is packed full with sessions that should provide
something for everyone. Our general sessions include:
- Mark Cullinan, FBI will discuss national security issues,
foreign students and the challenges they face, and general safety
tips.
- Jeff Baker, Dept. of Education will join us via teleconference
to address Reauthorization and the IRS data match.
- Jeanne Baer, Creative Training Solutions with some customer
service tips we can all utilize.
- Jessica Fuchs, Attorney General's Office will discuss Identity
Theft.
In addition, there will be breakout sessions, sector meetings,
and plenty of relaxation with friends taking place during the
conference. The Professional Development Committee invites all of
you to join us in North Platte.
TOP
MEMBERSHIP COMMITTEE
by Wendy Olson
The
Membership Committee has been hard at work over the past months
preparing for the grand unveiling of...drum roll please...the new
Membership photo directory! Jenni Burke is finishing up the final
touches on the directory, so we can hand it out at Spring
Conference. You won't believe it when you see it! Glossy pages and
bound, it is quite the professional tool for finding those folks
with whom you just can't place the name with the face. Also useful
to see, what others see when they look at you!
The other big project on our committee's agenda right now is of
course the fast approaching New Comer's Welcome at the Spring
Conference. We may not beat our record total of 22 from Fall
Institute, but I am sure fun will be had by all!
Lastly, we are gearing up to pass the torch to next year's
committee. Although the people will not be the same, I am sure that
the sentiment will be. Membership has is privileges! Ok, so I stole
that, but I tell you we were a great group of great people who had
a great year!
Take care, and I hope to see everyone at Spring Conference!
March
2004
GETTING TO KNOW...
Jack
Burdick
Director for Student Financial Services
Union College - Lincoln, NE
Jack Burdick got his start in financial aid at Union College
in June of 2003. He was quickly sent off to the RMASFAA Summer
Institute for a "crash course" in financial aid because
he needed to quickly put his skills and knowledge to use at Union
College. "I really appreciate all the support I have received
from the financial aid community. My greatest reward is that I am
able to help students achieve their dream of earning a college
degree."
Jack grew up in Tennessee. He is a CPA and received his BA in
Economics from the University of the South and his MBA from
Vanderbilt University. Prior to moving to Nebraska, Jack and his
family lived in Atlanta for 9 years, where he worked as a financial
analyst for MCI Telecommunications and as a systems analyst for
Scientific-Atlanta.
Family and living "the good life" brought Jack and his
family to Nebraska. Prior to taking his position at Union College,
he was an accounting manager for a small plastics deck and fencing
company in York. Jack and his family enjoy being close to
grandparents and the family-friendly atmosphere of Lincoln.
Jack and his wife, Janene, have been married for 7 years. They
have two children, John, 4, and Joy, 2, and a second son due any
day. A side note: John and Joy celebrate the same February 8
birthday and were born EXACTLY 2 years and 1 minute apart! You may
also want to extend warm birthday wishes to Jack as he just turned
the big 4-0 on March 6.
Away from work, Jack spends most of his time being a dad. One of
his favorite places to take the kids is the Lincoln Children's
Museum. Having lived in Baltimore for 3 years and Atlanta for 9, he
is also a big baseball fan and hopes to hit Haymarket Park this
spring and summer.
Movers & Shakers
March
2004
The following stories are the latest in an ever changing
Nebraska world of financial aid.
Weather: Blue
and Overcast (Boy, are we blue about
departures):
Dana College said good-bye to Amy Lyons. Our best
wishes go to Amy in her new position in Continuing Education.
Clarkson College said good-bye to Wendy Cobb.
We wish Wendy the best of luck and hope to see her back in
Financial Aid soon.
College of St. Mary said good-bye to Jenny
Mosher. Good luck Jenny!
It is with congratulations and sorrow that the world of
financial aid will bid adieu to Michelle Reeson of
Midland College. Michelle has accepted a position at Midland in
another department full time! We are so happy for her opportunity,
yet will miss her greatly!! Be sure to wish her well when you see
her!
Other
Weather: Sunny skies
Will Peanuts creator Charles Schultz be her new father-in-law? Heck
no, but Laura Jandl from Wells Fargo will have
Schultz for a new last name! Laura was recently engaged to be
married!! Don't be blinded by her new engagement ring! They are
tying the knot June 3, 2005. Congrats to the bride and groom!
Now don't let the glare from Shareen Cundall's
(of UNO) new engagement ring blind you either! Shareen and
boyfriend Craig will be tying the knot this summer in Lincoln! We
will let her give the lessons on pronunciation of her new last
name! Best of luck you two crazy kids!
News:
Western Nebraska Community College reports that they have a new
addition to their office staff. Grace Hendrickson
goes from working part time since August of 2001, to full time
member of the family. Grace will fill the position of Michelle
Mashmeier. Welcome Grace!
Doane College welcomes Nicole Wendelin to their
Lincoln Financial Aid office. Welcome Nicole!
Celebrity
News:
The new NeASFAA board of directors is getting ready to meet for the
first time and committees will be announced soon! Otherwise, things
seem to be quiet on the home front!
NSLP Update
March
2004
NSLP
Supports Students through Scholarship Donations
by Mark Krings
Regional Director
National Student Loan Program
During 2004, NSLP will
help Nebraska students pay college expenses through a $5,000
contribution to the Reaching Your Potential scholarship
program, and by doubling the funds awarded through its Cash for
Class program.
Reaching Your
Potential is a
program of EducationQuest Foundation - a private nonprofit
organization headquartered in the same downtown Lincoln location as
NSLP. NSLP's contribution will add to the $80,000 EducationQuest
will award this year in renewable, need-based scholarships to
Nebraskans who overcome obstacles to attend college.
Through Cash for
Class, NSLP provides scholarship funds each year to schools
throughout the country. NSLP selects the schools during drawings at
conferences for RMASFAA, MASFAA, SWASFAA, SASFAA, WASFAA, and
EASFAA. The program is so popular among schools that NSLP recently
doubled its Cash for Class contribution. This means twelve
schools will each receive $1,000 they can award to deserving
students.
"We're pleased to
support programs like Cash for Class and Reaching Your
Potential because they help students pursue higher education,
and that's what our mission is all about," Nancy Wiederspan
said.
For more information, or
to register for Cash for Class, visit http://www.nslp.org/cashforclass.htm.
For information about Reaching Your Potential, visit http://www.educationquest.org/faryp.asp.
USAFunds Update
March
2004
Higher-Education Tax Benefits Highlighted
by Larry Viterna
USA Funds Services Regional Director
Students and families
who paid college expenses during 2003 may qualify for
higher-education deductions or credits when they file their federal
income-tax returns. Tax-law changes in recent years have added and
expanded higher-education tax benefits. As they prepare their 2003
federal income-tax returns, students and parents should be advised
to see if they qualify for savings under these tax-law
provisions:
Student-loan-interest deduction
Benefit: You may be able to reduce your taxable
income by up to $2,500 for interest paid during the tax year on
your student loans.
Income limits: If you are a single taxpayer with a
modified adjusted gross income of between $50,000 and $65,000, you
can take a partial deduction. If your income is below $50,000 -
below $100,000 if you are married and filing jointly - you qualify
for the full deduction. Married taxpayers with modified adjusted
gross incomes of between $100,000 and $130,000 may qualify for a
partial deduction if they file joint tax returns.
Other information: Deductible interest includes
loan-origination fees, capitalized interest and voluntary interest
payments on loans taken out solely to pay qualified educational
expenses for a student enrolled at least half time. Interest paid
on loans from a relative or made under a qualified employer plan
does not qualify for the deduction. You can claim this deduction
even if you don't itemize deductions.
Hope Tax
Credit
Benefit: You may reduce your federal income tax by
as much as $1,500 per student for out-of-pocket tuition and fees
for each of the first two years of study toward a degree or
certificate from a college or vocational school. Students must be
enrolled at least half time to qualify.
Income limits: If you are single and have a
modified adjusted gross income of $51,000 or more, or married,
filing jointly, with a modified adjusted gross income of $103,000
or more, you do not qualify for this credit. If you're single and
your modified adjusted gross income is between $41,000 and $51,000
- or married, filing jointly, with a modified adjusted gross income
of between $83,000 and $103,000 - you may qualify for a partial
credit.
Other information: You cannot claim both the Hope
Tax Credit and Lifetime Learning Credit for the same student for
the same year.
Lifetime
Learning Credit
Benefit: You may be able to reduce your federal
income tax by as much as $2,000 for qualified tuition and related
expenses paid for students enrolled in an eligible postsecondary
institution. The maximum credit equals 20 percent of the first
$10,000 of qualified expenses.
Income limits: Income limits are the same as for
the Hope Tax Credit.
Other information: The Lifetime Learning Credit is
available for any year of education beyond high school, including
vocational, college, graduate and professional education. The
student does not need to be pursuing a degree or certificate to
qualify, and the credit is available for students taking one or
more courses. You cannot claim both the Hope Tax Credit and the
Lifetime Learning Credit for the same student for the same
year.
Deduction for
higher-education expenses
Benefit: You may be able to reduce your taxable
income by up to $3,000 for qualified higher-education expenses that
you paid during the tax year. This deduction may benefit you if
your income is too high to qualify for either the Hope or Lifetime
Learning credits.
Income limits: You may qualify for this deduction
if you are a single taxpayer with a modified adjusted gross income
of $65,000 or less, or married with a modified adjusted gross
income of $130,000 or less, and you file a joint return with your
spouse.
Other information: In general, higher-education
expenses that qualify for the deduction are tuition and fees paid
for you or your spouse or dependent. You may include
student-activity fees and fees for course books, supplies and
equipment if you were required to pay those fees to the institution
in order to attend. Room and board is not an eligible expense,
however. You may not claim this deduction and higher-education tax
credits - such as Hope or Lifetime Learning credits - for the same
student in the same year. You can claim this deduction even if you
don't itemize deductions.
Employer-provided education
benefits
Benefit: You may be able to exclude from your
taxable income up to $5,250 in higher-education assistance provided
by your employer each year.
Other information: Undergraduate- and
graduate-education assistance qualify for this tax benefit.
Eligible employer-provided education benefits include payment for
tuition, fees, books, supplies and equipment.
529
college-savings plans
Benefit: You may be able to exclude from your
taxable income earnings from state-sponsored qualified-tuition
programs, commonly known as 529 savings plans, that you used to pay
for qualified education expenses. These plans permit you to prepay
or invest to pay higher-education expenses.
Other information: To qualify for this benefit,
you must have used the proceeds of a 529-plan distribution for
tuition, fees, books, supplies and equipment at a qualified
higher-education institution. In the case of room-and-board costs,
check with the educational institution to determine the amount
considered "reasonable" for that school for the
deduction. You also may contribute to qualified-tuition plans
sponsored by educational institutions, but any earnings distributed
from these plans prior to 2004 will be taxable.
Coverdell
Education Savings Accounts
Benefit: You may contribute up to $2,000 annually
to a Coverdell Education Savings Account, formerly known as
education IRAs, on behalf of a designated beneficiary who is
younger than age 18 or is a special-needs beneficiary, to pay
qualified education expenses. Although these contributions are not
tax-deductible, they will grow tax-free until withdrawn.
Income limits: If you're single, and your modified
adjusted gross income is less than $95,000 - or married and filing
jointly with a modified adjusted gross income of less than $190,000
- you can contribute the maximum amount. If you're single and your
modified adjusted gross income is between $95,000 and $110,000 - or
married and filing jointly with a modified adjusted gross income of
between $190,000 and $220,000 - you may make a reduced
contribution.
Other information: Proceeds of Coverdell accounts
may be used to pay certain elementary- and secondary-education
expenses, as well as expenses for postsecondary studies.
Contributions to Coverdell accounts and 529 plans are permitted for
the same beneficiary in the same year. You may take a tax-free
distribution from a Coverdell account in the same year that you
claim a Hope or Lifetime Learning credit, as long as you don't use
your Coverdell-account distribution for the same expenses for which
you claimed the credit. Starting with the 2003 tax year, the
federal government will not charge excise tax on excess
Coverdell-account contributions, as long as the excess and earnings
from that amount are withdrawn by May 31 of the following calendar
year.
Credit or
deduction?
If you qualify, a tax credit generally is more beneficial than a
deduction. A credit directly reduces the tax that you owe. A
deduction reduces the amount of your income that is taxable. To
determine the value of a deduction, multiply the amount of the
deduction by your tax rate.
Please note that this
information is intended as a general summary of these tax benefits.
Financial-aid administrators should refer students and their
families to a qualified tax adviser or the Internal Revenue Service
(IRS) to determine eligibility for any of these benefits. They may
reach the IRS on the Web at www.irs.gov, or by
phone at (800) 829-1040. For additional information, order IRS
Publication 970, "Tax Benefits for
Education."
Further information is
available in the free USA Funds® brochure
"Higher-Education Tax Benefits - Expanded Taxpayer
Savings." The brochure is available to view and to order
by visiting www.usafunds.org/forms/order_pubs.asp
on the USA Funds Web site.
Quarterly Quote
March
2004
"A teacher affects
eternity; no one can tell where his influence
stops." --Henry
Adams