FIRST ADMINSITRATIVE COST ALLOWANCE PAYMENT FOR 2016-2017

The Federal Pell Grant regulations provide for an Administrative Cost Allowance (ACA) payment of $5 to schools for each student who receives a Pell Grant at that school for an award year. These funds may only be used to defray the costs of administering the Pell Grant, SEOG, Work-Study, or Perkins Loan programs. ACA payments are made directly to the school’s Federal bank account.

 Federal Student Aid began issuing the ACA payments to schools on February 28, 2017. Schools have likely already received these payments and those which have not, will see these payments deposited directly into their bank accounts during the next few weeks. Please be sure to check your Federal bank account on a regular basis to confirm these deposits, and to then transfer the funds into your general bank account. For more information about the Administrative Cost Allowance click here: http://bit.ly/2nrf5un