| DCLPublicationDate: 1/1/95 DCLID: CB-95-2 AwardYear: Summary: This letter provides information regarding changes in the 1996-97 FISAP for the Federal Perkins Loan, Federal Supplemental Educational Opportunity Grant (FSEOG), and Federal Work-Study (FWS) Programs. January 1995 CB-95-2 SUMMARY: This letter provides information regarding changes in the 1996-97 FISAP for the Federal Perkins Loan, Federal Supplemental Educational Opportunity Grant (FSEOG), and Federal Work-Study (FWS) Programs. Dear Financial Aid Administrator: We are planning to make the following data collection changes to the forthcoming 1996-97 Application to Participate/1994-95 Fiscal Operations Report (FISAP). These changes are still subject to the approval of the Office of Management and Budget (OMB). We are advising you of these proposed changes well in advance of the distribution of the Electronic FISAP materials in July. Enclosed is a copy of the requirements for your planning purposes. Please review the 1996-97 changes and compare them to the 1995-96 FISAP to ensure that your institution is completely updated on the proposed new data collection requirements. Part I - Identifying Information, Certifications and Warning In Section A, line 1.b has been added to accommodate those institutions which need to list a mailing address that is different from the official address in line 1.a (old line 1). In Section B, new lines have been provided for the FAX numbers of each institutional official in lines 6, 7, and 8. Part II - Application to Participate Sections A, B, C, and D No changes. Section E - Eligible Aid Applicants For Award Year 1994-95 The "Automatic" Zero EFC (line 25) that was optional in last year's FISAP, is now required reporting for all institutions. The undergraduate independent column has been divided into two columns in order to provide eligible aid applicant information for undergraduate independent students without a baccalaureate or first professional degree (new column D) and undergraduate independent students with a baccalaureate or first professional degree (new column E). These specifications are necessary to identify applicants who had previously received degrees and would not be eligible to participate in the FSEOG Program. Any such applicants will, therefore, not be used in determining an institution's FSEOG funding level. This change also makes the independent undergraduate columns consistent with the dependent undergraduate columns. The Graduate/Professional column is now the new column F. The determination of whether a student is an undergraduate or graduate will be based on enrollment status and not on possessing a baccalaureate or first-professional degree. Part III Federal Perkins Loan Program Report Section A - Fiscal Report (Cumulative) as of June 30, 1995 For the Federal Perkins Loan Program, a new line 1.2 (cash on hand and in depository as of 10/31/95) has been added. This line is to be completed only during the FISAP edit and correction process in November and will provide the Department with more current information on cash-on-hand for monitoring potential excess cash in an institution's Loan Fund. Section B - Fund Activity (Annual) During the 1994-95 Award Year (July 1, 1994 through June 30, 1995) No changes. Section C - Cumulative Repayment Information as of June 30, 1995 No changes. Section D - Cohort Default Rate No significant change. You are reminded that each category of borrower data in lines 1.1 through 2.5 reflects updated award years so that the most current data are used to calculate the cohort default rate. Part IV - Federal Supplemental Educational Opportunity Grant Program No changes. Part V - Federal Work-Study Program Section B - Federal Funds Available for FWS Expenditures A new line 9 has been added for reporting any additional 1994-95 funds carried back and spent as payments to students for wages earned after the end of the 1993-94 academic year, but prior to the beginning of the 1994-95 award year on July 1, 1994, in accordance with the Higher Education Amendments of 1992. Sections A, C, D, E, F, and G Please note that line item numbering has been changed to accommodate the addition of the new line 9, otherwise no changes. Part VI - Program Summary Section A - Distribution of Program Recipients and Expenditures by Type of Student The Undergraduate Independent income categories were optional in last year's report (old lines 12 - 18). In the 1994-95 report, the Undergraduate Independent income categories (new lines 8 - 14) are mandatory reporting for all institutions. The entire column G (Federal Share of Column F (FWS funds)) has been eliminated. The old column H (Summary Recipients) is now the new column G. Line 11 a (Undergraduate Dependent Less Than Full Time Students) has also been eliminated. Line item numbering has been changed to reflect these deletions. Section B - Calculating the Administrative Cost Allowance No changes. If you need clarification regarding these FISAP changes, please direct any questions to your Campus-Based Programs State Repre- sentative in Washington, D.C. A list of these representatives and their phone numbers is enclosed. Sincerely, William L. Moran Director, Student Financial Assistance Programs Enclosure |