2018-2019 SUPPLEMENTAL CAMPUS-BASED FUNDS

Earlier this year, schools with excess FSEOG or FWS funds deobligated their unexpended funds so that ED could reallocate them to institutions with a shortfall.
The Department of Education is getting ready to release 2018-2019 supplemental campus-based funds to eligible institutions for Federal Work-Study (FWS) and Federal Supplemental Opportunity Grant Funds (FSEOG). Schools will be notified by email by the end of September 2018, if they received supplemental Campus-Based funds. This email is typically sent to the Financial Aid Administrator identified on the most recently submitted FISAP. Keep your eye out for an email and check your Statement of Account on the COD website on or after that date to see if your school was allocated these additional funds.

FISAP DEADLINE AND RESOURCES

It’s FISAP Time.

The Fiscal Operations Report for 2017-18 and Application to Participate for 2019-20 (FISAP) is now available on the Common Origination and Disbursement (COD) Web Site.

If your school had Campus-Based expenditures for the 2017-18 Award Year and schools that wish to request funding under the Campus-Based programs for the 2019-20 Award Year are required to electronically submit a FISAP via the COD Web Site.

The deadline for the electronic submission of the FISAP is 11:59 p.m. Eastern time (ET) on October 1, 2018. Transmission must be completed by midnight.

You have lots of resources to help you with the FISAP including updated FISAP Instructions, Desk Reference and the 2019-20 Technical Reference.

It’s important to note that the e-signature option has been discontinued. Instead, hard copy of the FISAP signature page must be signed by your President or CEO and mailed to the address provided. ED is only accepting originals, so no scans or copies either, but don’t worry that the CEO title doesn’t print. It’s a known issue and ED has confirmed it will accept the signature page without the printed title.

In a recent Electronic Announcement, FSA provided some other important reminders for schools.

Any updates to the FISAP and instructions have been outlined in the July 13, 2018 Electronic Announcement.

Only disbursements made from 2017-18 funds should be reported in Part II, Section E, Field 23. If crossover payments are made from 2018–19 funds, the disbursements should be reported in next year’s FISAP (Fiscal Operations Report for 2018-19 and Application to Participate for 2020-21).

The financial aid and business office staff must coordinate efforts to reconcile and report accurately on the FISAP.

If funds are drawn from G5 that exceed the amounts reported on the FISAP, a negative balance will result, and the school will need to return funds to G5.

Example: If a school’s FWS authorized amount was $50,000 and the school reported an expended amount of $40,000 on its FISAP, the school’s award will be closed out at the expended amount of $40,000. If more than $40,000 has been drawn in G5, a negative balance for the amount over $40,000 will result and that amount must be returned.
Appropriate Administrative Cost Allowance (ACA) should be calculated and claimed (see Volume 6 of the Federal Student Aid Handbook). After December 14, 2018, schools are not permitted to make any additional claims to the ACA that were not previously reported on its FISAP.

FISAP INFO FOR PERKINS LOAN INSTITUTIONS

The Federal Perkins Loan Expired last year and the FISAP information has been updated to state that schools may no longer request a Federal Perkins Loan Level of Expenditure. Schools that advanced Federal Perkins Loans to students during 2017-18 are permitted to claim the ACA for this year. No Perkins ACA is permitted to be claimed after 2017-18.

Report the federal share of Perkins Loan Fund’s Excess Liquid Capital that your school returned to the Department in Part III, Section A, line 28 “Repayments of fund capital to federal government.”

Report the institutional share of Perkins Loan Fund’s Excess Liquid Capital that you returned to your school in Part III, Section A, line 30.2 “Distribution of excess/liquid fund capital.”

REALLOCATION AND SUPPLEMENTAL CAMPUS BASED FUNDS DEADLINE

If you’ve got leftover funds that you won’t spend from the 2017-2018 Federal Work-Study (FWS) or Federal Supplemental Educational Opportunity Grant (FSEOG), you should complete the Campus Based Reallocation Form by August 13, 2018 so that other schools can use them. The campus-based reallocation form can also be used by institutions that want to request supplemental 2018-2019 Federal Work Study Funds for employing students in community service jobs. To qualify, schools must have had an FWS fair share shortfall as shown on line 28 of the school’s 2018-2019 final funding worksheet.

The reallocation form can be found on the COD website. For more information including a sample of the form, click this electronic announcement from FSA.

2018-19 FINAL FUNDING AUTHORIZATIONS FOR THE CAMPUS-BASED PROGRAMS

The Final Authorizations for the 2018-2019 Campus-Based programs have been posted to the Department’s COD website (not eCB anymore). Awards for each Campus-Based program in which a school participates is reflected in the school’s 2018-2019 Statement of Account.

Each institution that applied for funds under the Federal Supplemental Educational Opportunity Grant (FSEOG), Federal Work-Study (FWS), and/or Federal Perkins Loan (Perkins Loan) programs for the 2018-2019 Award Year receives a tentative funding level which is based on a Base Guarantee and a Fair Share Increase. However, if the amount of unexpended 2016-2017 funds exceeds 10% of the institution’s 2016-2017 allocation and no waiver for that unexpended amount was approved, the allocation is reduced by the unexpended amount. The final funding worksheets posted on the COD website will show the information that was used in the calculation of each school’s 2018-2019 Campus-Based allocations.

The total 2018-2019 federal funds available for allocation to schools under the FWS, FSEOG, and Perkins Loan programs are as follows:

Program           Total Federal Funds Available for Allocation to Schools

FWS                  $1,130,000,000

FSEOG              $840,000,000

Perkins Loan    $0

For more information about the 2018-2019 Final Funding Authorizations read the Department’s Electronic Announcement here.