Posted Date:April 5, 2013
|Author:||William Leith, Service Director, Program Management, Federal Student Aid|
Subject: 2013-2014 Final Funding Authorizations for the Campus-Based Programs
In an Electronic Announcement dated January 25, 2013 we informed institutions of tentative 2013-2014 funding levels for the Campus-Based programs. Final funding worksheets and the 2013-2014 Statement of Account for each of the Campus-Based programs will be posted the eCampus-Based (eCB) Web site within the next week.
The final funding authorization for each Campus-Based program is the amount of funding the school is authorized to receive from the Department of Education (the Department) for the 2013-2014 Award Year. A school's 2013-2014 final funding authorization for each Campus-Based program is based on the applicable statutory formula and on the amount of funds appropriated by Congress for that program. A school will not receive a 2013-2014 final funding authorization for a Campus-Based program that is in excess of its request for funds made on the Fiscal Operations Report for 2011-2012 and Application to Participate for 2013-2014 (FISAP) that the school previously submitted to the Department.
The Consolidated and Further Continuing Appropriations Act, 2013 (Pub. L. 113-6) was enacted on March 26, 2013. It appropriated funds for the Federal Work-Study (FWS) and Federal Supplemental Educational Opportunity Grant (FSEOG) programs to be allocated to schools for the 2013-2014 Award Year.
The total 2013-2014 Federal funds available for allocation to schools under the FWS, FSEOG, and Federal Perkins Loan (Perkins Loan) programs are as follows:
|Program||Total Federal Funds Available for Allocation to Schools|
|Perkins Loan||$ 0|
The information that follows provides important information related to the final funding authorizations.
How the Campus-Based Awards for a School are Determined
A school's final funding level for each of the Campus-Based programs is 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 2013-2014 Campus-Based allocations.
Returning more than 10 percent of the 2011-2012 Allocation for one of the Campus-Based Programs Affects a School's 2013-2014 Allocation
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. Thus, underutilization of 2011-2012 funds could impact a school's allocation of 2013-2014 funds.
We accepted requests for a waiver of any 2013-2014 Award Year penalty for the underuse of 2011-2012 Award Year funds with the initial submission of the FISAP or with any FISAP edit submissions received through the February 8, 2013 waiver request deadline. We reviewed the waiver requests 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 2011-2012 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."
Notification of 2013-2014 Campus-Based Allocations
In addition to this Electronic Announcement individual schools will be notified by e-mail that the 2013-2014 Campus-Based allocation information has been posted to the eCB Web site. We will send this e-mail to each 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. This e-mail will advise the school that it can access its 2013-2014 Campus-Based allocation information as follows:
- Awards for each Campus-Based program in which the school participates will be reflected in the school's 2013-2014 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 "2013-2014" 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 "2013-2014" link next to it.
Attached to this announcement is an explanation of the calculation of the final funding authorization contained in the worksheet for each program.
Reallocation of Additional Campus-Based Funds for the 2013-2014 Award Year
All of the Campus-Based funds available for the 2013-2014 Award Year have been allocated in the final process. However, some schools may qualify for supplemental 2013-2014 Campus-Based funds based upon a reallocation of funds not spent by institutions from 2012-2013 allocations. Specific information on the reallocation process and the electronic application for requesting additional funds will be provided in subsequent communications.
"Total Authorized Level of Expenditure" or "LOE" for the Federal Perkins Loan Program
Even though there is no new federal capital contribution for the 2013-2014 Award Year, 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 2013-2014 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 on the Information for Financial Aid Professionals (IFAP) Web site.
For additional information about 2013-2014 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.