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(CB-04-03) 2005-2006 FISAP Change Letter

Publication Date: March 2004

DCL ID: CB-04-03

2005-2006 FISAP Change Letter

March 2004

CB-04-03

SUBJECT: 2005-2006 FISAP Change Letter

SUMMARY: This letter informs schools about the changes in the 2005-2006 FISAP for the Federal Perkins Loan, Federal Supplemental Educational Opportunity Grant (FSEOG), and Federal Work-Study (FWS) programs.

REFERENCE: The 2003-2004 Federal Student Aid Handbook: Campus-Based Common Provisions, Volume 4

Dear Partner:

We are planning to make certain data collection changes to the Fiscal Operations Report for 2003-2004 and Application to Participate for 2005-2006 (FISAP). These changes include statutory/regulatory updates and suggestions received from schools. Although these changes require Office of Management and Budget (OMB) approval, we are advising you of them in advance of the FISAP distribution in July so you may plan accordingly.

Please review the following 2005-2006 FISAP award year changes to ensure that your school can accommodate the new data collection requirements.

Note that references to the Serial Number have been removed from the 2005-2006 FISAP form. Only the OPEID Number will be used.

Part I - Identifying Information, Certifications and Warning

There are no changes to Part I.

Part II - Application to Participate

There are no changes to Part II. However, the FISAP instructions for Part II, Section F, fields 25-40 will include expanded information on accessing Eligible Dependent and Eligible Independent Student Reports for FISAP purposes.

Part III – Federal Perkins Loan Program Report

For Part III, Section B, Fund Activity (annual) during the 2003-2004 Award Year (July 1, 2003 through June 30, 2004), four new fields have been added. Field 8(a) and field 8(b) will collect information on Perkins Loans that have been in default for more than 2 years, up to 5 years. Field 9(a) and field 9(b) will collect information on Perkins Loans that have been in default for more than 5 years. These additional data elements require schools to report the number of borrowers who made payments towards principal and the amount of principal repaid in the 2003-2004 award year on these defaulted loans. These new fields will enable us to obtain more precise information on the number of inactive accounts that may no longer be collectable by the school.

Information has been added to the FISAP instructions for Part III, Section A, fields 1.1, 5, 15, 23, and 35 on reporting payments returned to Perkins Loan borrowers after a final discharge for total and permanent disability.

For Part III, Section C, Cumulative Repayment Information as of June 30, 2004, a note was added to state that field 2 equals the sum of field 2.1 plus 2.2.

A note has also been added to the FISAP instructions for Part III, Section C, field 2.2 to clarify information about the acceptance of assignments for total and permanent disability.

Part IV – Federal Supplemental Educational Opportunity Grant Program

There are no changes to Part IV.

Part V – Federal Work-Study Program

There are no changes to Part V.

Part VI - Program Summary

There are no changes in Part VI.

You may contact the Campus-Based Call Center at 877/801-7168 if you have any questions about these 2005-2006 FISAP changes.

Sincerely,

Richard Coppage, Director

Campus-Based Operations Branch

Federal Student Aid

Enclosure: Draft 2005-2006 FISAP Form

Draft 2005-2006 FISAP Form in PDF Format, 17KB, 13 pages

Last Modified: 03/09/2004