Publication Date: March 2002
Information regarding your institution's final funding authorization under the Campus-Based Programs for the 2002-2003 award year.
SUMMARY: Information regarding your institution's final funding authorization under the
Campus-Based Programs for the 2002-2003 award year.
REFERENCE: The Student Financial Aid Handbook, Campus-Based Programs
The federal funds available for the 2002-2003 award year for the Federal Perkins Loan, Federal Work-Study (FWS), and Federal Supplemental Educational Opportunity Grant (FSEOG) programs are as follows:
FSEOG $ 725,000,000
Federal Perkins Loan $ 100,000,000
Questions & Answers
Q. How were the Campus-Based awards for my school determined?
A. Your final 2002-2003 funding levels have been determined in accordance with procedures contained in the:
1. Higher Education Act of 1965 (HEA), as amended; and
2. Section 34 CFR Part 673 of the Campus-Based Program Regulations.
You will find in your Student Aid Internet Gateway mailbox a copy of your institution's final funding worksheet for each program which shows the specific steps used to calculate your awards. For line by line worksheet instructions, refer to Dear Partner Letter CB-02-01 (January) posted on ED’s website www.ifap.ed.gov.
Q. What affect did returning more than 10 percent of my 2000-2001 allocation have on my 2002-2003 allocation?
A. The HEA requires that if an institution returns more than 10 percent of its Federal Perkins Loan, FWS, or FSEOG program allocation for an award year, the institution's allocation for that program will be reduced in the second succeeding award year by the amount unexpended.
Q. How did my request for an underuse of funds waiver affect my allocation?
A. All institutions had an opportunity to request an underuse of funds waiver with their initial 2002-2003 FISAP submission. We have reviewed all waiver requests received and have mailed a separate letter showing the Department's decision regarding their requests to those institutions. Approved waivers are reflected on the authorization letter and the final funding worksheets for each program.
There is a line item on each final funding worksheet that reflects increased authorizations for some institutions. Additional funds were awarded according to need as a result of the amounts of underused funds reductions withheld from institutions that either did not submit a waiver request or received a waiver denial.
Q. When will Campus-Based funds become available to my institution?
A. Your award letter and final funding worksheets will be sent by electronic file (message class FFIN03OP) by April 1, 2002. Federal funds for these programs will be posted into your institution's grantee account in the Department's Grant Administration and Payment Systems (GAPS) by July 1, 2002. Payments are to be withdrawn from your grantee account according to the procedures specified in the Department of Education Payee’s Guide.
Q. Will there be additional FWS funds for the 2002-2003 Award Year?
A. With the exception of $4,000,000 earmarked for Work-Colleges participation, all of the $1,011,000,000 funds appropriated for the 2002-2003 Federal Work-Study Program have been distributed in the initial awarding process. Some institutions may also qualify for reallocated supplemental FWS funds. An application with specific qualifications (Reallocation Form E40-4P) is included in your FISAP on the Web through our www.cbfisap.sfa.ed.govwebsite.
Q. What is the purpose of the Federal Perkins Loan level of expenditure?
A. If your institution participates in the Federal Perkins Loan Program, the level of expenditure shown on your Perkins final funding worksheet represents the maximum amount the institution is authorized to expend from its loan fund for the 2002-2003 award year. If your institution wants to request an increase in its approved level of expenditure, you may write to the Area Case Management and Oversight (CMO) Director at the regional office that serves your state. A request to increase the authorized level of expenditure will not result in any increase to the Federal Capital Contribution allocation.
Q. Who can help me if I have questions?
A. If you have any questions regarding your 2002-2003 funding levels, please call our Campus-Based Call Center at 877-801-7168 for assistance.