| PublicationDate: 12/16/99 Summary: Federal Pell Grant 1999-2000 Authorization Increases Author: AFMS - Accounting and Financial Management Service Posted on December 16,1999 TO: All Destination Points FROM: Pell Grant Processing RE: Federal Pell Grant 1999-2000 Authorization Increases The Office of Student Financial Assistance has executed a Y2K initiative for the Federal Pell Grant program. We are increasing 1999-2000 school authorizations up to the GAPS drawdown for 1998-99 through February 1999. This resulted in an increase of over $2 billion for more than 4000 schools. This action is intended to provide schools with sufficient funding authority in case of Y2K-related problems with their systems. We expect the increases to be posted in GAPS no later than December 16, 1999; we will release an updated Electronic Statement of Account (ESOA) immediately thereafter to all schools scheduled to receive this increase. For further details, please see Dear Partner Letter 99-P-8 on the IFAP web site (www.ifap.ed.gov). If you have further questions, please call 1-800-4PGRANT. |