DRAFT 2020-2021 FISAP MATERIALS RELEASED

Federal Student Aid recently released draft versions of the 2020-2021 FISAP, accompanying instructions and updated Technical Reference to help schools prepare for the upcoming FISAP due on October 1, 2019. Although the final documents won’t be published until August 2019, schools can use these draft documents to begin preparing the information needed in October. For more information check out the recent electronic announcement from FSA here.

Changes to the FISAP

In addition to award year and date references, the following FISAP fields have been updated and/or added:

Part I, Section A, Field 5

Two new data fields have been added to Field 5 to include the Federal Supplemental Educational Opportunity Grant (FSEOG) and Federal Work-Study (FWS) amounts allocated to each additional eligible institution for the 2018–19 reporting year.

Part III, Section B, Fields 1–8

Fields 1–8 have been updated to no longer allow for data entry on new loans due to the expiration of the authority to award new Federal Perkins Loans (Perkins Loans).

Part III, Section B, Fields 12 & 13

Fields 12 and 13 have been added to collect data on permissible servicing costs and cancellation reimbursement, if applicable, respectively.

Part VI, Section A, Fields 1a–26a & 1b–26b

Federal Perkins Loan Recipients (column a) and amount of funds (column b) fields have been updated to no longer allow for data entry due to the expiration of the authority to award new Perkins Loans.

Changes to FISAP Instructions

In addition to updates to the annual award year, date references, acronyms, and hyperlinks, the following changes have been made to the FISAP Instructions:

All

Updates have been made throughout the instructions to address the expiration of the authority to award new Perkins Loans and all impacted fields that will no longer allow for data entry as a result.

Introduction to the FISAP

The due date for the FISAP has been updated to Monday, October 1, 2019, and the correction deadline has been updated to December 13, 2019. Clarification has been added on the requirements around reporting for additional eligible institutions on a single FISAP (Part I, field 5).

Part I, Identifying Information, Certification and Warning

Clarification has been added about FISAP signature submission requirements. Instructions have been added for new data fields required in Part I, Section A, field 5 when reporting for additional eligible institutions.

Part III, Section B

Clarification has been added on the loan assignment process for cases of total and permanent disability. Instructions have been added for the new Fields 12 and 13, to report servicing costs and loan cancellation reimbursements received.

Parts IV & V

Removed paragraphs about reporting prior year recoveries on the FISAP, so as not to repeat or conflict with guidance provided in Volume 5 of the Federal Student Aid Handbook.

Parts VI, Section B

Clarification has been added around claiming and reporting administrative cost allowance (ACA).