Posted Date:August 29, 2011
|Author:||William Leith, Service Director, Program Management, Federal Student Aid|
Subject: Reminder - September 30, 2011 Deadline for Submitting FISAP
This is a reminder of the upcoming deadline for submitting the Fiscal Operations Report for 2010-2011 and the Application to Participate for 2012-2013 (FISAP) for the Federal Perkins Loan (Perkins Loan), Federal Supplemental Educational Opportunity Grant (FSEOG), and Federal Work-Study (FWS) programs. As announced in the published in the Federal Register on February 2, 2011 (76 FR 5788), the date by which a school must submit this FISAP is Friday, September 30, 2011.
All schools that wish to request funding under the Campus-Based programs for the 2012-2013 Award Year, and all schools that had Campus-Based expenditures or Perkins Loan activity for the 2010-2011 Award Year, are required to electronically submit a FISAP via the eCampus-Based (eCB) Web site. The eCB Web site allows a school to complete and submit its FISAP online, receive real-time validation edits, and access prior-year data to assist in completing the FISAP. For information about accessing the FISAP on the eCB Web site, refer to the July 21, 2011 Electronic Announcement posted to the Information for Financial Aid Professionals (IFAP) Web site.
The deadline for electronic submission of the FISAP is 11:59 P.M. (ET) on September 30, 2011. Transmissions must be completed and accepted by 12:00 midnight.
Critical Program Deadline--Submitting the FISAP by the September 30, 2011 deadline is a critical program requirement. To comply with this program requirement and ensure Campus-Based funding for the 2012-2013 Award Year, a school must 1) electronically submit its FISAP via the eCB Web site and 2) mail the signed hard copy of the combined certifications and signature pages for its FISAP to the Department of Education (the Department) as instructed on the eCB Web site.
Click “Submit”--Remember that saving data into the FISAP online is not the same as submitting the FISAP. To meet the deadline requirement, the FISAP must be submitted by 11:59 P.M. (ET) on September 30, 2011. Transmissions must be completed and accepted by 12:00 midnight. Data can be entered and saved as a school works through the form, but it is not actually submitted until the school user clicks on “Submit” located on the left side of the page.
Consequences for Failing to File the FISAP--2010-2011 funding will be reduced to zero ($0) for a school that received Campus-Based funds for 2010-2011but fails to file the FISAP by the deadline. Any 2010-2011 program funds that have been drawn down in G5 will be required to be returned to the Department.
Updated School Contact Information Required--It is important for the timely receipt of notifications that a school ensures the accuracy of its contact information, including the e-mail address. A school can update its contact information when submitting the FISAP or by selecting “Setup,” then “Contact Info” on the eCB Web site. All Campus-Based program notifications are sent via e-mail.
Additional Information Required for Underuse Penalty Waiver Application--If a school is returning more than 10 percent of its 2010-2011 Campus-Based allocations, the school’s allocation for the 2012-2013 will be reduced by the unexpended amount.
A waiver for the underuse of funds may be requested in Part II, Section C, Line 6 of the FISAP. A written explanation of the circumstances which caused the underuse must be provided on the “Additional Information” page. Instructions for providing the Additional Information are provided in on page II-2.
The deadline to request a waiver of the underuse penalty is February 10, 2012. However, the deadline for submitting the FISAP is September 30, 2011.
Consistency Helps Avoid Negative Balances--Make sure the information provided concerning expenditures of 2010-2011 award amounts reported as expended for that program on the FISAP is consistent with the amounts drawn in G5. For example, if a school's FWS authorized amount was $50,000 and the school reported an expended amount of $40,000 on the FISAP, the school's award will be closed out at the expended amount of $40,000. If the school has a different amount in G5, we will assume that the correct expenditures are the amounts certified by the Chief Executive Officer in Part I, Section B of the FISAP and deobligate the difference. In some cases this results in a negative balance which is required to be returned to the Department.
Edit Corrections through December 15, 2011--Once a FISAP is submitted, the working copy is available for correction by the school until 11:59 P.M. (ET) on December 15, 2011. Transmissions must be completed and accepted by 12:00 midnight. Data can be entered and saved as a school makes corrections through the form. If corrections are made, remember to submit them. Note: After the December 15, 2011 deadline for submitting corrections, approval of FISAP change requests is limited.
Online Help is Available 24/7--If additional help is needed, the eCB Web site has several documents that can be accessed online as well as a series of frequently asked questions and answers (Q&As).
If you have any questions about the FISAP submission deadline, 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.