Summary: This letter provides information on Tentative 1999-2000 Funding Levels for the Campus-Based Programs.
SUMMARY: This letter provides information on Tentative 1999-2000 Funding Levels for the Campus-Based Programs.
REFERENCE: Chapters 5, 6, 7 and 8 of the Federal Student Financial Aid Handbook for 1998-1999
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, 1999 through June 30, 2000. These tentative funding levels were determined in accordance with 1) the Higher Education Act (HEA) of 1965, as amended; and 2) the Campus-Based program regulations.
PLEASE NOTE THAT THESE ARE TENTATIVE FUNDING LEVELS ONLY.
We have enclosed 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. The Explanation of the Tentative Funding Worksheets can be found on the Information for Financial Aid Professionals (IFAP) website.
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.
An institution was permitted to include data in its 1999-2000 FISAP for students enrolled in additional locations that had not yet received an eligibility determination by the submission date. If the institution does not receive an eligibility letter and program participation agreement from the Department by March 3, 1999 for the newly listed locations, the institution must submit a revised FISAP by Title IV Wide Area Network (TIVWAN) by March 9, 1999. The institutions revision must remove all data pertaining to students enrolled at the ineligible location(s).
ELIGIBILITY AND FINAL FUNDING LEVEL
All applicant institutions are receiving this notice of 1999-2000 tentative funding levels. However, to receive a 1999-2000 final allocation by April 1, 1999, an institution must be certified to participate in the Campus-Based Programs. Questions regarding your institution's eligibility and certification should be referred to the Initial Participation Branch, telephone (202) 260-3270.
If you have questions regarding your institution's 1999-2000 tentative funding levels, please call your Campus-Based Financial Management Specialist.
Michele Selvage, Director
Institutional Financial Management Division
Enclosure: Tentative Funding Level Worksheets*
*The Enclosure of "Tentative Funding Level Worksheets" is currently unavailable for viewing. Please reference your paper document for additional information.