Maintained for Historical Purposes

This resource is being maintained for historical purposes only and is not currently applicable.

(CB-96-04) (CB-96-04) Changes in the 1997-98 FISAP for the Federal Perkins Loan, Federal Supplemental Educational Opportunity Grant (FSEOG), and Federal Work-Study (FWS) Programs.

DCLPublicationDate: 2/1/96
DCLID: CB-96-4
AwardYear:
Summary: Changes in the 1997-98 FISAP for the Federal
Perkins Loan, Federal Supplemental Educational
Opportunity Grant (FSEOG), and Federal
Work-Study (FWS) Programs.


February 1996

CB-96-4


SUMMARY: Changes in the 1997-98 FISAP for the Federal
Perkins Loan, Federal Supplemental Educational
Opportunity Grant (FSEOG), and Federal
Work-Study (FWS) Programs.

REFERENCE: The Student Financial Aid Handbook, Chapters
5, 6, 7 and 8.



Dear Financial Aid Administrator:

We are planning to make certain data collection changes to the
1995-96 Fiscal Operations Report/1997-98 Application to
Participate (FISAP). Even though these proposed changes are
still subject to the approval of the Office of Management and
Budget (OMB), we are advising you of them 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 following 1997-98 changes and compare them to
the 1996-97 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, space has been provided below line 3 for
institutions to submit OPEID# corrections.

Part II - Application to Participate

Sections A, B, C, D, and E

No changes.

Part III - Federal Perkins Loan Program Report

Sections A, B, and C

No changes.

For Section D, how to determine whether or not a defaulted
Federal Perkins loan must be counted in a school's cohort
default rate has been changed. The status of the loan on
June 30 can not be used to exclude the loan from the cohort

default rate calculation. The number of days in default
(240 days or 270 days past due) is the threshold for
inclusion of a loan in the cohort default rate. Once a loan
has reached 240/270 days in default, that loan will be
counted as a defaulted loan in the cohort default rate, even
if the borrower subsequently makes payments that bring the
loan current or reduce the past-due status to less than
240/270 days. In such cases, the status of the loan on June
30, which now might be either current or a lesser number of
days past due, will not exclude this loan from the cohort
default rate calculation. Once a loan reaches 240/270 days
in default, paying the loan in full will not exclude the
loan from the cohort default rate calculation.

An exception to the 240/270-day threshold will be granted in
cases where a borrower would have qualified for a deferment
for a period beginning prior to the loan hitting the
240/270-day threshold, and the borrower failed to file a
request for the deferment in a timely manner. For such a
borrower, the loan's past-due status would be adjusted to
reflect the deferment period beginning date.

Once the 240/270-day threshold has been met, the borrower
must make satisfactory arrangements to repay the loan (sign
a new repayment agreement and make 6 consecutive monthly
payments) before the defaulted loan can be excluded from the
cohort default rate.

Part IV - Federal Supplemental Educational Opportunity Grant
Program

In Section C, the information reported on line 6 (Non-
Federal Share of Funds to FSEOG Recipients) has been broken
down into two component parts. Line 6a instructs
institutions to list any amount of non-Federal share that
was a cash outlay contributed by the institution. Line 6b
asks institutions to indicate the amount of non-Federal
share contributed from other institutional resources
including institutional grants and scholarships, state
scholarships or foundation, or other charitable organization
funds.

Part V - Federal Work-Study Program

Sections A, B, C, D, E, F, and G

No changes.


Section H - Information about FWS Community Service
Activities

A new Section H, containing 3 line items on FWS community
service activities, has been added to the FISAP this year.
These data were previously collected on the Campus-Based
Reallocation Form (E40-4P), but have been transferred to the
FISAP form. This change will allow your institution to
report all of the FWS information in one report instead of
two reports.

Part VI - Program Summary

Section A - Distribution of Program Recipients and
Expenditures by Type of Student

A new line 18 (Total Number of Students with Automatic Zero
EFC) has been added to include zero EFC student data in
columns A thru G because these students were not previously
accounted for on the Program Summary page.

If you need clarification regarding these FISAP changes, please
direct any questions to your Campus-Based Programs Financial
Management Specialist in Washington, D.C. A list of these
representatives and their phone numbers is enclosed.

Sincerely,



Michele Selvage, Director
Institutional Financial Management
Division




Campus-Based Programs
Institutional Financial Management Division
Financial Management Specialist

Mrs. Jennifer Eades (202) 708-9184 NE, NV, NH, NJ, NM, NY,
Alternate: C. Franklin-Jones PR, UT, VI

Mrs. C. Franklin-Jones (202) 708-9183 AL, AK, AZ, CO, CT, DE,
Alternate: Jennifer Eades GA, KY, RI, VT

Mrs. Rhonda Herbert (202) 708-9191 AR, DC, HI, TN, TX, VA, PI,
Alternate: Jim Porter GU

Mr. Joseph Morris (202) 708-8745 ID, IL, IN, IA, KS, MO
Alternate: Alice Payne

Ms. Dinah Nelson (202) 708-8759 FL, MS, OH, PA
Alternate: Vicki Roberson

Ms. Alice Payne (202) 708-9754 CA, SC
Alternate: Joseph Morris

Mr. Jim Porter (202) 708-7752 NC, ND, OK, OR, SD,
Alternate: Rhonda Herbert WA, WV, WI, WY

Ms. Vicki Roberson (202) 708-7747 LA, ME, MD, MA, MI,
Alternate: Dinah Nelson MN, MT

State Representatives Fax: (202) 260-0522

If ultimately you are unable to reach your Financial Management Specialist at the above telephone number, you may call the alternate identified below the name of your Financial Management Specialist, or call (202) 708-7741.

24-HOUR COMMUNICATIONS: For 24-hour information service, call
(202) 205-0045

Last Modified: 01/31/1996