Posted Date:April 27, 2011
|Author:||William Leith, Service Director, Program Management, Federal Student Aid|
Subject: Recalculation of 2011-2012 Final Funding Authorizations for the Campus-Based Programs (Updated May 6, 2011)
Note: On May 6, 2011, we posted guidance regarding the recalculated 2011-2012 final funding authorizations for the Campus-Based programs. For complete information, refer to http://ifap.ed.gov/eannouncements/050611CB1112FinalFundingRecalculated.html.
The 2011-2012 funding levels for the Campus-Based programs were announced in an Electronic Announcement dated April 1, 2011. The posted announcement contained a note that the awards are subject to the availability of appropriations when final appropriations were determined since those funding levels were based on the FY 2010 amounts.
The Department of Defense and Full-Year Continuing Appropriations Act, 2011 (P. L. 112-10), was enacted on April 15, 2011 and provided final FY 2011 appropriations for the Campus-Based programs. P.L. 112-10 reduced the Federal Supplemental Educational Opportunity Grant (FSEOG) Program by $20 million and both the FSEOG and Federal Work-Study (FWS) programs were subject to an additional reduction of 0.2%. As in FY 2010, there is no funding for either Federal Perkins Loan Cancellations or Perkins Loan Federal Capital Contribution. The total 2011-2012 (FY11) Federal funds available for allocation to schools under FSEOG, FWS, and Perkins Loan Cancellations as compared to the amounts available for 2010-2011 (FY10) are:
While the final FY11 amounts are sufficient to cover previously calculated Base Guarantees for FWS and FSEOG, Fair Share Increases that were announced in the Campus-Based Funding Authorizations Electronic Announcement dated April 1, 2011 will be affected by the revised 2011-2012 funding levels and, therefore, awards must be recalculated for all schools. We expect that Final funding levels for the Campus-Based programs and revised worksheets for 2011-2012 will be generated on May 9, 2011. Another Electronic Announcement fully explaining the final funding worksheets and additional details concerning availability of drawdowns in G5 for 2011-2012 funds is expected to be posted to the Information for Financial Aid Professionals (IFAP) Web site by that date.
If you have additional questions about this announcement, 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.