DOUBLE CHECK YOUR 2017-2018 CAMPUS BASED FUNDING AUTHORIZATIONS

Last month we reported that the Department announced the 2017-2018 Final Funding Authorizations for the Campus Based Programs, however just days later the Department announced that they discovered an error in the underlying calculations for the Federal Work-Study and Federal Supplemental Educational Opportunity Grant. In a July 5, 2017 Electronic Announcement, the Department announced that they would temporarily postpone G5 drawdowns for several days while they recalculated schools’ final awards. Subsequently on July 13, the Department announced that the 2017-2018 Campus Based Program Awards Funding Authorizations had been corrected. On average schools saw a decrease in funding after the recalculation of less than $3,500 for FSEOG and less than $2,500 for FWS. If you haven’t done so already, be sure to double check your school’s 2017-2048 Campus Based Funding Authorizations to ensure that you are using the corrected authorization levels when budgeting for 2017-2018.