Posted Date:May 6, 2014
Subject: Notification of Campus-Based Funding for the 2014-2015 Award Year
Awards for the Federal Work-Study (FWS), Federal Supplemental Educational Opportunity Grant (FSEOG), and Federal Perkins Loan (Perkins Loan) programs, authorized under Title IV of cthe Higher Education Act of 1965, as amended, for the 2014-2015 Award Year (July 1, 2014 through June 30, 2015) have been approved for the schools listed in the attached report. 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|
|3)||Amount of the awards for the FSEOG Federal share and the FWS Federal share|
|4)||Estimated number of student borrowers in the Perkins Loan Program, estimated number of student awards for the FSEOG Program, and estimated number of students to be employed under the FWS Program for the award period|
|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. In most instances, Federal funds provide 75 percent of a student’s FWS earnings. A matching school or off-campus agency contribution provides 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 up to 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 2014-2015 Award Year are $960,293,212. The approved allocations are for 3,322 schools and are estimated to benefit 570,559 students.
Federal Supplemental Educational Opportunity Grant Program
Under the FSEOG Program, schools make grant awards to undergraduate students with exceptional financial need. The maximum student award amount for each academic year of undergraduate study is $4,000. Federal funds will provide 75 percent of the grants with the school providing the remaining 25 percent from its own resources, unless a regulatory waiver is granted. The Federal funds being obligated at this time for the FSEOG Program for the 2014-2015 Award Year are $727,516,296. The approved allocations are for 3,762 schools and are estimated to benefit 1,211,986 students.
Federal Perkins Loan Program
Under the Perkins Loan Program, schools make low interest loans to needy undergraduate and graduate students. In years past Federal funds generally provided 75 percent of the new capital contributions to a school's Perkins Loan Revolving Fund, and the school provided the remaining 25 percent. However, beginning with the 2005-2006 Award Year there have been no new Federal funds appropriated for the Perkins Loan Program. A school is authorized to use cash from its Perkins Loan Revolving Fund up to the amount of its approved Perkins Loan Level of Expenditure. School revolving fund resources at 1,509 schools are estimated to benefit 833,376 students.
If you have questions about the Notification of Campus-Based Funding report, 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.