Publication Date: March 18, 2008
2008-2009 Final Funding Authorizations for the Campus-Based Programs
Summary: This letter announces the upcoming posting to our eCampus-Based Web site of schools' 2008-2009 final funding authorizations for the Campus-Based programs.
Tentative 2008-2009 funding levels for the Campus-Based programs were announced on January 17, 2008 in Dear Colleague Letter CB-08-01. The final funding worksheets and the 2008-2009 Statement of Account for each program will be posted to the eCampus-Based (eCB) Web site by April 1, 2008.
In accordance with the Consolidated Appropriations Act, 2008, (P.L. 110-161), the 2008-2009 Federal funds available for the Federal Work-Study (FWS), Federal Supplemental Educational Opportunity Grant (FSEOG), and Federal Perkins Loan (Perkins Loan) programs are as follows:
Federal Funds Available for All Schools
|Perkins Loan|| |
The questions and answers that follow provide important information related to the final funding authorizations.
QUESTIONS AND ANSWERS
Q1: How are the Campus-Based awards for a school determined?
A1: A school's final funding levels for each of the Campus-Based programs are determined in accordance with provisions of the Higher Education Act of 1965, as amended (HEA), and by the implementing regulations at 34 CFR Part 673. The final funding worksheets posted on the eCB Web site will show the derived figures used in calculating the school's 2008-2009 Campus-Based allocations. See Q&A #4 that explains how to access 2008-2009 Campus-Based allocations information posted on the eCB Web site.
Q2: If a school returned more than 10 percent of its 2006-2007 allocation for one of the Campus-Based programs, will it affect the school's 2008-2009 allocation?
A2: As required by the HEA, unless a waiver had been granted, if a school returns more than 10 percent of its Perkins Loan, FWS, or FSEOG program allocation for an award year, the school's allocation for that program in the second succeeding award year will be reduced by the amount returned.
We accepted requests for a waiver of any 2008-2009 Award Year penalty for the underuse of 2006-2007 Award Year funds with the initial submission of the Fiscal Operations Report for 2006-2007 and Application to Participate for 2008-2009 (FISAP) or with any FISAP edit submissions received through the February 8, 2008 waiver request deadline. We have reviewed all of the waiver requests we received, notified the Financial Aid Administrators at the requesting schools of our decisions, and posted the decision letters to the eCB Web site. Any school that underutilized its 2006-2007 allocation by more than 10 percent and did not receive approval of a waiver request will see an adjustment in the applicable final funding worksheet on the line labeled "Allocation Reduction."
Q3: Will there be additional Campus-Based funds available for the 2008-2009 Award Year?
A3: All of the Federal Campus-Based funds available for the 2008-2009 Award Year have been allocated in the final award process. However, some schools may qualify for supplemental 2008-2009 Campus-Based funds based upon a reallocation of funds not spent from 2007-2008 allocations. Specific information on the reallocation process, including an application (Reallocation Form E40-4P) for requesting additional FWS funds, will be included with the Fiscal Operations Report for 2007-2008 and the Application to Participate for 2009-2010 in July 2008.
Q4: How will we be notified of our 2008-2009 Campus-Based allocations?
A4: We will notify a school by e-mail after its 2008-2009 Campus-Based allocation information has been posted to the eCB Web site. We will send this e-mail to the school's Financial Aid Administrator, as provided in the school's most recently submitted FISAP or as updated via the "Contact Info" page on the eCB Web site. Following receipt of this e-mail, the school can access its 2008-2009 Campus-Based allocation information as follows:
Awards for each Campus-Based program in which the school participates will be reflected in the school's 2008-2009 Statement of Account on the eCB Web site. To access the Statement of Account, log in to the eCB Web site, select the "Self-Service" link from the top navigation bar, and scroll to the "Campus-Based Notifications for All Available Award Years" section. Then, scroll to the "Statement of Account" bullet and select the "2008-2009" link next to it.
Final funding worksheets for each Campus-Based program in which the school participates will be posted on the eCB Web site. To access the final funding worksheets, log in to the eCB Web site, select the "Self-Service" link from the top navigation bar, and scroll to the "Campus-Based Notifications for All Available Award Years" section. Then, scroll to the "Final Awards" bullet and select the "2008-2009" link next to it.
Note: For a line-by-line explanation of the worksheets, refer to the "Explanation of Worksheets" attachment to Dear Colleague Letter CB-08-01.
Q5: We participate in the Perkins Loan Program. What is the purpose of the "Total Authorized Level of Expenditure" or "LOE" shown on our final funding documentation?
A5: The level of expenditure shown on a school's Statement of Account and Perkins Loan final funding worksheet represents the maximum amount the school is authorized to expend from its Perkins Loan fund for the 2008-2009 Award Year. If the school wants to request an increase in its level of expenditure, it must contact the School Participation Team at the Department of Education's regional office that serves the state in which the school is located. School Participation Team contact information is available at http://fsa4schools.ed.gov/help/contacts.htm#Case_Management_Teams/.
Q6: When will 2008-2009 Campus-Based funds become available for use by our school?
A6: Federal funds for the Campus-Based programs will be posted to a school's grantee account in G5 (formerly GAPS) by July 1, 2008.
For additional information about 2008-2009 Campus-Based allocations, contact the Campus-Based Call Center at 877/801-7168. Customer service representatives are available Monday through Friday from 8:00 A.M. until 8:00 P.M. (ET). You may also e-mail CBFOB@ed.gov.
Director, Campus-Based Systems and Operations Division
Federal Student Aid