|AwardYear: 1998 - 1999|
ChapterTitle: Completing The Verification Process
Section: Making Corrections
If a students data need correcting, you may have the student submit the data for reprocessing without doing anything yourself. This section explains your options if you want to recalculate the students EFC rather than automatically have the student submit the data for reprocessing.
Correcting for the Federal Pell Grant Program
If you have determined the errors either will not change or will increase the scheduled award, you may pay the student based on the original EFC; reprocessing is not required.
If the errors will increase the award, and you wish to pay the student based on the increase, the data must be corrected and reprocessed. Corrections are made either on the ISIR or the SAR. You may either withhold payment until the reprocessed EFC is received or make a first payment based on the original EFC, adjusting the second payment upon receipt of the reprocessed EFC.
If the students scheduled award will decrease, the data must be corrected and reprocessed, and you must withhold payment until you receive the reprocessed EFC. (For details on first payments and correction procedures, see the 1998-99 Counselors Handbook for Post- secondary Schools.)
Submitting a Correction
To receive a Federal Pell Grant, students must correct their application data on the ISIR or SAR, through the CPS. The CPS must receive all corrections, whether electronically or on paper, by August 16, 1999; no corrections will be accepted after this date.13
Correcting for Campus-Based, Direct Loan, and FFEL Programs
If a campus-based, Direct Subsidized Loan, or Federal Stafford Loan applicants data are incorrect and the tolerance does not apply, you may choose to recalculate the students EFC or you may require the student to correct the data record and submit it for reprocessing to the CPS. If your recalculation is incorrect, you will be liable for any resulting overpayment. If recalculation shows the EFC would not change, you may award campus-based aid or federal student loans based on the original EFC.
If recalculation changes the EFC, you may award campus-based aid or federal student loans based on your recalculation, but you may be liable for any overpayment that occurs because you incorrectly recalculated the applicants EFC. As already mentioned, if you choose not to recalculate the EFC, you may have the applicant correct the data record and submit it for reprocessing to the CPS.