Summary: This letter is to inform you that the Office of Student Financial Assistance is implementing a Y2K mitigation plan for the Federal Pell Grant Program for the 1999-2000 award year.
December 10, 1999
This letter is to inform you that the Office of Student Financial Assistance is implementing a Y2K mitigation plan for the Federal Pell Grant Program for the 1999-2000 award year.
This month we plan to implement a procedure that may increase your 1999-2000 Federal Pell Grant authorization. We will compare your GAPS drawdowns to your current authorization. If the amount reported in GAPS, as of February 1999, exceeds your current authorization, we will increase your authorization level to the GAPS amount.
This procedure will not apply to schools that receive funds under the reimbursement or Just-In-Time methods of payment. It will also not apply to schools with authorizations that exceed the GAPS February 1999 amount.
If your school's authorization is increased, you will receive an Electronic Statement of Account (ESOA). This procedure should ensure that you have sufficient funding in the event of a Y2K-related problem.
In the meantime, you should continue to submit student level data, as required. If your school experiences problems submitting Federal Pell Grant student data or your school requires an authorization increase which exceeds the amount resulting from this special procedure, please contact the Federal Pell Grant Hotline at 1-800-4PGRANT (1-800-474-7268).
While we don't expect any Y2K-related disruptions in the flow of Pell Grant funds to schools, we believe this one-time procedure change provides significant risk mitigation with minimal change in procedure.
We appreciate your continued support of the Federal Pell Grant Program.
Michele L. Selvage, Acting Lead