Posted Date:April 26, 2007
Subject: Notification of Campus-Based Funding for the 2007-2008 Award Year
Awards for the Federal Work-Study (FWS), Federal Supplemental Educational Opportunity Grant (FSEOG) and Federal Perkins Loan (Perkins) programs, authorized under Title IV of the Higher Education Act of 1965, as amended, for the 2007-2008 Award Year (July 1, 2007 through June 30, 2008) have been approved for the schools listed in the attached three reports. Each report covers specific states, and the schools are listed alphabetically within the state in which they are located. The following information is provided for each school:
1) School name and address;
2) Applicable programs;
3) Amount of the awards for the Perkins Federal share, the FSEOG Federal share, and/or the FWS Federal share;
4) Estimated number of student borrowers in the Perkins Program, estimated number of student awards for the FSEOG Program, and/or estimated number of students to be employed under the FWS Program for the award period; and
5) Authorized Perkins Loan Level of Expenditure.
Note: State and territory summary information is provided at the end of the listing for each state and territory. National summary information is provided at the end of the last report.
A summary of the awards approved under each program follows.
Federal Work-Study Program
Under the FWS Program, schools provide jobs on-campus and off-campus for needy undergraduate and graduate students. Federal funds will provide 75 percent of student payrolls with a few exceptions. A matching school or off-campus agency contribution will provide the remaining 25 percent, unless a regulatory waiver is granted. The Federal share of earned compensation for employment at private for-profit organizations may not exceed 50 percent. The Federal share may be 90 percent under certain conditions for employment at private nonprofit and public agencies. The Federal funds being obligated at this time for the FWS Program for the 2007-2008 Award Year are $965,921,728. The approved allocations are for 3,338 schools and are estimated to benefit 662,321 students.
Federal Supplemental Educational Opportunity Grant Program
Under the FSEOG Program, schools make grant awards to undergraduate students with exceptional financial need. Federal funds will provide 75 percent of the grants to students who are eligible for the program. There is a maximum student award of $4,000 for each academic year of undergraduate study awarded by participating schools. The school provides the remaining 25 percent from its own school resources, unless a regulatory waiver is granted. The Federal funds being obligated at this time for the FSEOG Program for the 2007-2008 Award Year are $762,915,728. The approved allocations are for 3,783 schools and are estimated to benefit 994,948 students.
Federal Perkins Loan Program
Under the Perkins Program, schools make low interest loans to needy undergraduate and graduate students. In previous years, Federal funds generally provided 75 percent of the new capital contributions to a school's Perkins Revolving Fund and the school provided the remaining 25 percent. However, there were no new Federal funds obligated for the Perkins Program for the 2007-2008 Award Year. A school is authorized to use cash from its revolving fund up to the amount of its Perkins Loan Level of Expenditure. School revolving fund resources at 1,654 schools are estimated to benefit 1,014,665 students.
If you have any questions concerning the Notification of Campus-Based Funding reports, please contact the Campus-Based Call Center at 877/801-7168. Customer service representatives are available Monday through Friday from 8:00 A.M. until 8:00 P.M. (ET). You may also e-mail CBFOB@ed.gov.