Summary: Changes in the 1998-99 FISAP for the Federal Perkins Loan, Federal Supplemental Educational Opportunity Grant (FSEOG), and Federal Work-Study (FWS) Programs.
(Mailed to Campus-based list only)
SUMMARY: Changes in the 1998-99 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
1996-97 Fiscal Operations Report/1998-99 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 1998-99 changes and compare them to
the 1997-98 FISAP to ensure that your institution is completely
updated on the proposed new data collection requirements.
PART I - IDENTIFYING INFORMATION, CERTIFICATIONS
PART II - APPLICATION TO PARTICIPATE
SECTIONS A, & B
Beginning with the 1998-99 award year, we are changing the
Federal Perkins Loan-Expanded Lending Option (ELO)
participation procedure. Part II, Section C, Line 6 will now
allow institutions that meet the criteria (a cohort default rate of
15 percent or less and a 1998-99 award year Federal capital
contribution) to apply for participation directly on the FISAP.
An Institutional Agreement, unique to ELO, will be included in
the Electronic FISAP software. Institutions applying for ELO
must sign the agreement and return it with the FISAP signature
A new Line item 7 will allow institutions to indicate that they no
longer want to participate in the Federal Perkins Loan Program
and need to liquidate their Perkins Loan portfolios.
Sections C, D, & E of the 1997-98 FISAP have now been
changed to accommodate the new Sections C & D. They are
now Sections E, F, & G. Note that there are line item number
changes in Part II from lines 6 to 42.
PART III - FEDERAL PERKINS LOAN PROGRAM REPORT
SECTIONS A & B
New Lines 5.3 and 5.4 have been added so institutions can
report loans that have been in default more than two years but
less than 5 years (5.3), and in default more than 5 years (5.4).
Note that default loan data in line 5.2 now includes loans in
default only "up to 2 years".
PART IV - FEDERAL SUPPLEMENTAL EDUCATIONAL
OPPORTUNITY GRANT PROGRAM
SECTIONS A, B, C, D, E, & F
PART V - FEDERAL WORK-STUDY PROGRAM
SECTIONS A, B, C, D, E, F, G, & H
PART VI - PROGRAM SUMMARY
SECTION A & B
If you have any questions regarding these FISAP changes,
please direct them to your Campus-Based Programs Financial
Management Specialist identified on the attached listing.
Michele Selvage, Director
Institutional Financial Management Division
INSTITUTIONAL FINANCIAL MANAGEMENT DIVISION
FINANCIAL MANAGEMENT SPECIALISTS
Mrs. C. Franklin-Jones (202) 708-9183
alternate - Carolyn Short AL,AK,AZ,CO,CT,DE,
Mrs. Rhonda Herbert (202) 708-9191
alternate - Jim Porter AR,DC,HI,TN,TX,VA,PI, 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
Mrs. Alice Payne (202) 708-9754 CA,SC
alternate - Joseph Morris
Mr. Jim Porter (202) 708-7752
alternate - Rhonda Herbert NC,ND,OK,OR,SD,WA,
Ms. Vicki Roberson (202) 708-7747
alternate - Dinah Nelson LA,ME,MD,MA,MI,
Ms. Carolyn Short (202) 708-9184
alternate - C. Franklin-Jones NE,NV,NH,NJ,NM,
Financial Management Specialist 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.