Posted Date:August 31, 2018
|Author:||Federal Student Aid|
Subject: Reminder: FISAP due October 1, 2018
This is a reminder of the upcoming deadline for submitting the Fiscal Operations Report for 2017–18 and the Application to Participate for 2019–20 (FISAP) for the Campus-Based Programs. As announced in the 2018–19 Award Year Deadline Dates for 2018–19 Award Year Deadline Dates for the Campus-Based Programs, published in the Federal Register on January 3, 2018 (83 FR 356), the date by which a school must submit the FISAP and the required signature page is Monday, October 1, 2018.
All schools requesting Federal Supplemental Educational Opportunity Grant (FSEOG), and Federal Work-Study (FWS) program funds for the 2019–20 Award Year and/or that had either FSEOG and FWS expenditures or Federal Perkins Loan (Perkins Loan) activity for the 2017–18 Award Year are required to electronically submit a FISAP via the Common Origination and Disbursement (COD) Web Site. Schools that closed during the 2017–18 Award Year are required to complete and submit a final FISAP to report 2017–18 Campus-Based expenditures.
The COD 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. Schools should review all validation edits and ensure accuracy of the information reported. For information about accessing the FISAP on the COD Web Site, refer to the August 1, 2018 Electronic Announcement announcing that the 2019–20 FISAP is available.
The deadline for electronic submission of the FISAP is 11:59 p.m. Eastern time (ET) on October 1, 2018. Transmissions must be completed prior to midnight.
FISAP eSignature is no longer available – The signature page must be printed, signed and mailed by the October 1, 2018 deadline. Signature requirements and instructions can be found in the , page I-3.
Click “Submit” – Remember that saving data into the FISAP online is not the same as submitting the FISAP. 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.”
Consequences for Not Filing the FISAP – 2017–18 Campus-Based funding levels will be reduced to zero ($0) for a school that received 2017–18 Campus-Based funds but fails to file the FISAP by the deadline. This includes schools that closed during the 2017–18 year and drew Campus-Based funds for that year from G5. Any 2017–18 program funds that have been drawn down in G5 will be required to be returned to the Department of Education (the Department). Campus-Based funds for the 2019–20 Award Year will not be awarded to schools that fail to file the FISAP. Additionally, failing to accurately and timely file the FISAP may result in referral to FSA’s Program Compliance office for further review and action. These actions may include fines, and a limitation, suspension or termination of your institution’s eligibility to participate in the Campus-Based Programs.
Updated Financial Aid Administrator (FAA) Contact Information Required – All Campus-Based notifications are sent via email to the FAA. For timely receipt of these notifications, it is important that a school ensures the accuracy of its FAA contact information, including the FAA email address. A school can update its contact information when submitting the FISAP or by selecting “School Information,” then “Demographics” on the COD Web Site. All changes or corrections to contact information must also be updated in the Program Participation Agreement on the E-App website at https://eligcert.ed.gov.
Additional Information Required for Underuse Penalty Waiver Application – If a school is returning more than 10 percent of its 2017–18 FSEOG or FWS allocation on the FISAP, the school’s allocation for that program for 2019–20 will be reduced by the unexpended amount. A waiver for this 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 using the “Provide Additional Information” option for Edit 02090 during the validation process. The deadline to request a waiver of the underuse penalty is February 4, 2019.
Note: Schools that were impacted by the 2017 hurricanes and received 2017–18 supplemental funding do not need to submit this waiver because underuse waivers will be granted automatically for these schools. This and other FISAP guidance for hurricane-impacted schools can be found in the August 1, 2018 Electronic Announcement.
Accuracy Helps Avoid Negative Balances – Make sure the information reported for expenditures of 2017–18 award amounts are accurate and 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 we will deobligate the difference, $10,000 in this example. In some cases this results in a negative balance which is required to be returned by the school to the Department.
Edit Corrections through December 14, 2018 – Once a FISAP is submitted, the school is able to make corrections to the working copy until 11:59 p.m. (ET) on December 14, 2018. Data can be entered and saved as a school makes corrections. If corrections are made, remember to submit them. Transmissions must be completed prior to midnight. Note: After the December 14, 2018 deadline for submitting corrections, approval of FISAP change requests is limited and reserved for exceptional issues only.
Perkins Excess Liquid Capital Reporting –
Report the federal share of Excess Liquid Capital repaid to the federal government from the Perkins Loan Revolving Fund in Part III, Section A, line 28 “Repayments of fund capital to federal government.”
Report the institutional share of the Excess Liquid Capital that you returned to your school from the Perkins Loan Revolving Fund in Part III, Section A, line 30.2 “Distribution of excess/liquid fund capital.”
- Online Help is Available 24/7 – If additional help is needed, the COD 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 COD School Relations Center at 1-800-848-0978. You may also email CODSupport@ed.gov.