Posted Date:May 17, 2011
|Author:||William Leith, Service Director, Program Management, Federal Student Aid|
Subject: Incorrect Federal Perkins Loan Program Level of Expenditure on 2011-2012 Campus-Based Final Funding Worksheets (Updated May 23, 2011)
Note: On May 20, 2011, we corrected the Total Authorized Level of Expenditure (LOE) amount for the Federal Perkins Loan Program that was incorrectly reflected as $0. For complete information, refer to http://ifap.ed.gov/eannouncements/052311FedPerkinsLoanProgramLevelofExpenditureData1112.html.
In accordance with the Department of Defense and Full-Year Continuing Appropriations Act, 2011 (P. L. 112-10), on Friday, May 13, 2011 we distributed recalculated 2011-2012 Final Funding Authorizations for the Campus-Based Programs. We have discovered that the Final Funding Worksheets incorrectly indicate the Total Level of Expenditure (LOE) for Federal Perkins Loan Program amounts as $0. The Federal Work Study and Federal Supplemental Educational Opportunity Grant funds indicated in the Final Funding Worksheets are correct.
Although P.L. 112-10 did not allocate funds to the Department of Education to issue 2011-2012 Federal Perkins Loan Federal Capital Contributions or 2009-2010 Federal Perkins Loan Service Cancellation Reimbursements, LOE was unaffected. In most cases the Final Perkins LOE will not change from what was indicated on the Campus-Based Tentative Funding Worksheet made available February 1, 2011. (See Electronic Announcement dated January 25, 2011 Tentative 2011-2012 Funding Levels for the Campus-Based Programs.) You can review your 2011-2012 Campus-Based Tentative Funding Worksheets through the Self-Service page on the eCampus-Based Web Site.
We apologize for the confusion and inconvenience. We will correct the issue as soon as possible and provide notification to you when the updated information is available.
For questions about 2011-2012 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.