Summary: This letter provides information on Tentative 1996-97 Funding Levels for the Campus-Based Programs.
SUMMARY: This letter provides information on Tentative 1996-97 Funding Levels for the Campus-Based Programs.
REFERENCE: Chapters 5,6,7 and 8 of the Federal Student Financial Aid Handbook for 1995-96
Dear Financial Aid Administrator:
Enclosed is a notice of your institution's tentative funding levels for the Federal Perkins Loan, Federal Work-Study (FWS), and/or Federal Supplemental Educational Opportunity Grant (FSEOG) programs for the award period July 1, 1996 through June 30, 1997. These tentative funding levels were determined in accordance with 1) the Higher Education Act (HEA) of 1965, as amended; and 2) Campus-Based Program regulations, dated November 30, 1994.
PLEASE NOTE THAT THESE ARE TENTATIVE FUNDING LEVELS ONLY.
We have enclosed computer-generated worksheets that show the step-by-step calculation of each tentative funding level. Please review the worksheets carefully. If your institution submitted FISAP corrections that are not included on the worksheets, please notify your Campus-Based Financial Management Specialist. Also, if your institution's base guarantee for any program is too high (due to disallowed expenditures resulting from an audit, program review, etc.), you must advise us immediately of the adjusted expenditures. Be sure to retain the enclosed explanation of the worksheet because we will not provide another copy when your final allocation worksheets are issued in late March 1996.
In accordance with the HEA sections 413D(e)(2), 442(e)(2), and 462(j)(4), if an institution returns more than 10 percent of its Federal Perkins Loan, FWS, or FSEOG allocation for an award year, the allocation for the next fiscal year for that program will be reduced by the dollar amount returned. The law also provides that the Secretary may waive this requirement if its enforcement would be contrary to the interest of the affected Campus-Based Program.
The enclosed worksheets show whether your institution's allocation for a program was reduced by the amount of 1994-95 underutilized funds. If one or more of your program allocations were reduced and you believe that there were extenuating circumstances unique to 1994-95 that prevented your institution from spending these funds, you may request a waiver of the reduction.
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To request a waiver, please submit a written explanation of the circumstances along with supporting documentation. The waiver request must be signed by an appropriate institutional official and above the signature the official must include the statement: "I certify that the information the institution provided in this waiver request is true and accurate to the best of my knowledge. I understand that the information is subject to audit and program review by representatives of the Secretary of Education." The request must be postmarked by February 20, 1996 and sent to:
Sandra K. Donelson
Campus-Based Financial Operations Branch
Institutional Financial Management Division
U.S. Department of Education
ROB-3, Room 4714
600 Independence Avenue, S.W.
Washington, D.C. 20202-5458
We will notify you of our decision by letter prior to your receipt of final allocations. Approved waivers will be reflected in the final allocations which will be mailed in late March.
An institution was permitted to include data in its 1996-97 Campus-Based Programs Application for students enrolled in additional locations that had not yet received an eligibility determination by the date the FISAP was submitted to us last fall. If the institution has not received an eligibility letter and program participation agreement from the Department prior to March 1, 1996 that includes eligibility for one or more of these locations, the institution must submit revised application data on a diskette or by modem, postmarked no later than March 15, 1996. The institution must delete all data pertaining to students enrolled at the ineligible location. The revised diskette or data must be accompanied by a cover letter informing your Financial Management Specialist which locations are ineligible, and must be sent to the following address:
Universal Automation Labs
8300 Colesville Road, Suite 500
Silver Spring, Maryland 20910
ELIGIBILITY AND FINAL ALLOCATION DATA
All applicant institutions are receiving this notice of tentative 1996-97 funding levels. However, to receive a final 1996-97 allocation by April 1, 1996, an institution must be certified to participate in the Campus-Based Programs. Questions regarding
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your institution's eligibility and certification should be referred to the Institutional Participation Division, telephone (202) 401-6485.
If you have questions regarding your institution's 1996-97 tentative funding levels, please call the appropriate Campus-Based Financial Management Specialist identified on the enclosed listing.
Michele Selvage, Director
1. Tentative Funding Level Worksheets
2. Explanation of Worksheets
3. Expected Family Contribution (EFC) Averages
4. Listing of Financial Management Specialists for the Campus-Based Programs