Publication Date: March 2003
| DCL ID: | CB-03-04 |
Subject: Information regarding your school's final funding authorization under the Campus-Based Programs for the 2003-2004 award year.
MARCH 2003
CB-03-04
SUMMARY: Information regarding your school's final funding authorization under the Campus-Based Programs for the 2003-2004 award year.
REFERENCE: The Federal Student Aid Handbook, Campus-Based Programs
Dear Partner:
The federal funds available for the 2003-2004 award year for the Federal Perkins Loan, Federal Work-Study (FWS), and Federal Supplemental Educational Opportunity Grant (FSEOG) programs are as follows:
Program Total Federal Funds Available for all Schools
FWS $1,004,428,500
FSEOG $ 760,027,500
Federal Perkins Loan $ 99,350,000
Questions & Answers
Q. How were the Campus-Based awards for my school determined?
A. Your final 2003-2004 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 the 2003-2004 authorization letter and final funding level worksheet(s) for your school posted on the eCampus-Based (eCB) web site at http://cbfisap.sfa.ed.gov. The final funding worksheet(s) will show the specific steps used to calculate your awards. Selecting the eCB "Self Service" link from the top navigation bar will give you direct access to your final funding level worksheet(s). For a line-by-line explanation of the worksheets, refer to Dear Partner Letter CB-03-02 (January) posted on ED’s website www.ifap.ed.gov.
Q. What affect did returning more than 10 percent of my 2001-2002 allocation have on my 2003-2004 allocation?
A. The HEA requires that if a school returns more than 10 percent of its Federal Perkins Loan, FWS, or FSEOG program allocation for an award year, the school'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 schools had two opportunities to request an underuse of funds waiver before the February 14, 2003 deadline. We accepted waiver requests with the initial 2003-2004 FISAP submission and through the FISAP edit process.
We have reviewed all the waiver requests we received and have posted the letters showing the Department's decisions to the eCB web site under the "Self Service" link for the schools that requested the waivers.
There is a line item on each final funding worksheet that reflects increased authorizations for some schools. Additional funds were awarded according to need as a result of the amounts of underused funds withheld from schools that either did not submit a waiver request or received a waiver denial.
- When will Campus-Based funds become available to my school?
A. Your authorization letter and final funding worksheets for 2003-2004 will be posted to the eCampus-Based web site by April 1, 2003. Federal funds for these programs will be posted into your school's grantee account in the Department's Grant Administration and Payment Systems (GAPS) by July 1, 2003. Payments are to be withdrawn from your grantee account according to the procedures specified in the Department of Education Payee’s Guide.
- Will there be additional FWS funds for the 2003-2004 Award Year?
A. With the exception of $4,000,000 earmarked for Work-Colleges participation, all of the $1,004,428,500 appropriated for the 2003-2004 Federal Work-Study Program has been distributed in the initial awarding process. However, some schools may also qualify for reallocated supplemental FWS funds. An application with specific qualifications (Reallocation Form E40-4P) will be included in your eCB FISAP in July 2003.
Q. What is the purpose of the Federal Perkins Loan level of expenditure?
A. If your school participates in the Federal Perkins Loan Program, the level of expenditure shown on your authorization letter and Perkins final funding worksheet represents the maximum amount the school is authorized to expend from its loan fund for the 2003-2004 award year. If your school 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. Our FSA schools portal web site http://fsa4schools.ed.gov/SFAPortal/home/contacts.htm lists the CMO contact for your state. A request to increase the authorized level of expenditure will not result in any increase to the Federal Capital Contribution allocation.
- Who can help me if I have questions?
A. If you have any questions regarding your 2003-2004 funding levels, please call our Campus-Based Call Center at 877-801-7168 for assistance.
Sincerely,
Richard Coppage
Acting Director
Campus-Based Operations