Summary: This letter provides information concerning your initial 1995-96 Federal Pell Grant Statement of Account and Institutional Payment Summary.
SUMMARY: This letter provides information concerning your
initial 1995-96 Federal Pell Grant Statement of
Account and Institutional Payment Summary.
The enclosed 1995-96 Federal Pell Grant Statement of Account
establishes your initial authorization to pay eligible students
for this school year. Your authorization appears on your
Statement of Account on the line labeled "Pell Grant
We used your 1995-96 student payment data to determine your
initial authorization for the new school year. Your 1995-96
authorization represents our estimate of the funds you need to
make the first payments to your students. We will base
adjustments to this initial authorization on the student payment
data that we accept from your institution for 1995-96.
We have forwarded your authorization to the U.S. Department of
Education (ED) Financial Payment Group (FPG), Financial Services,
with an effective date of July 1, 1995. You may request funds through
the service bureau for the ED Payment Management System (ED/PMS)
by using the Automatic Clearing House (ACH) electronic funds
transfer or FEDWIRE.
The "ED/PMS Expenditures" line on your Statement of Account shows
the Pell Grant expenditures that your institution reported on
your most recent "Federal Cash Transactions Report" (ED/PMS
272A), as accepted by ED/PMS. The "As of" date in the same line
indicates the date ED/PMS posted the figure shown. We provide
this information to assist your financial aid office in
reconciling the Pell Grant payments you report to the program
with the expenditures your business office reports to ED/PMS.
For 1995-96 Statements of Account, the ED/PMS expenditures line
will remain blank until ED/PMS receives and processes your first
ED/PMS 272A covering 1995-96 funds.
We have also enclosed your first 1995-96 Federal Pell Grant
Institutional Payment Summary (IPS) and instructions for
completing your paper IPS and Payment Vouchers (SAR Part 3).
Enclosures 2 through 5 respectively provide submission
instructions, examples of IPS Section II with student payment
data, specific instructions for completing items changed on the
1995-96 Payment Voucher, and excerpts from the 1995-96 Student
Financial Aid Delivery System Trainee Guide on calculating Cost
of Attendance and Federal Pell Grant awards. Please refer to the
Federal Pell Grant program Final regulations published in the
Federal Register on November 1, 1994 for further details.
Please use only the address shown on the IPS, and repeated in
Enclosure 2, to submit all non-electronic submissions to us. You
must also ensure that your computer center or any other office that
submits your Federal Pell Grant payment data has, and uses only,
the Herndon P.O. box or the McLean street address.
Automated data exchange users (Recipient, Electronic, and Floppy
Disk Data Exchanges) receive detailed submission specifications
under separate cover. However, we strongly encourage financial
aid administration personnel to review carefully the enclosed
information to ensure that the data you report to the program,
regardless of medium, meets our acceptance criteria. In
addition, all institutions must comply with the program's
required reporting periods. We provide the applicable periods in
the instructions for the IPS (Enclosure 1).
If you have questions about your Pell Grant account, please
contact the Institutional Financial Management Division, Accounting
and Financial Management Service, at (202) 708-9807, fax: (202)
401-0387. If you have questions about Pell Grant systems,
processing, or services, please notify the applicable technical
support contact given in Enclosure 6 for the Application and Pell
Processing Systems Division, Program Systems. Thank you for your
continued support in providing student financial assistance. The
Federal Pell Grant program staff looks forward to working with you
throughout the year.
Senior Advisor to the Secretary