AwardYear: 1995-1996 EnterChapterNo: 4 EnterChapterTitle: Federal Pell Grant Program SectionNumber: SectionTitle: Table of Contents PageNumbers: INTRODUCTION.....1 Updates.....1 SECTION ONE: STUDENT ELIGIBILITY.....3 General Eligibility Requirements.....3 Undergraduate Student.....4 Duration of Eligibility.....5 The EFC and Federal Pell Grant Eligibility.....5 Documenting the Student's Eligibility for Payment.....7 SECTION TWO: CALCULATING THE FEDERAL PELL GRANT.....9 Basic Concepts.....9 Choosing a Formula.....12 Determining Enrollment Status.....13 Calculating the Cost of Attendance.....16 Determining the Annual Award.....21 Determining the Payment Periods.....21 Calculating the Payment for a Payment Period.....24 Summer Terms.....29 Correspondence Study.....31 Terms With Clock Hours.....33 Checking Remaining Eligibility: Crossover Payment Periods.....35 Checking Remaining Eligibility: Transfer Students.....36 Formula Summaries.....39 Calculation Examples.....46 Two Mathematical Notes.....64 SECTION THREE: SPECIAL PROGRAM CONSIDERATIONS.....65 Consortium Agreements (Between Eligible Schools).....65 Cooperative Education.....68 Correspondence Study Combined With Regular Study.....69 Foreign Study.....70 Incarcerated Students.....70 Job Training (JTPA) Programs.....71 Remedial Coursework.....72 SECTION FOUR: DISBURSING FEDERAL PELL GRANT AWARDS.....73 School Certification and Student Eligibility.....73 Methods of Disbursement.....74 First Payment Options.....75 Timing of Payments.....75 Disbursements for Students Who Withdraw and Later Return.....78 SECTION FIVE: RECALCULATING FEDERAL PELL GRANT AWARDS.....81 Change in the EFC.....81 Change in Enrollment Status.....82 Change in Cost of Attendance.....83 SECTION SIX: OVERPAYMENTS AND OVERAWARDS.....85 Overpayments.....86 Preventing Overawards.....88 SECTION SEVEN: REPORTING DISBURSEMENTS.....91 Reporting Methods.....92 Payment Voucher.....93 Institutional Payment Summary.....95 How to Fill Out the Payment Voucher.....98 Processed Payment Vouchers and Batch Reports.....105 Reporting Changes on the Processed Payment Vouchers.....107 Student Payment Summary.....109 Requesting Funds.....112 Appendix 1: Item-by-Item Description of Your Student Payment Summary.....113 Appendix 2: What Causes a Student to Appear on Your SPS More Than Once.....121 Appendix 3: Reconciliation of Student Payment Data to (IPS) Net Expenditures Using Your Student Payment Summary.....123 1995-96 Payment Schedules.....125 |