Recently, the Hurricanes Harvey, Irma, and Maria Education Relief Act of 2017 was passed and as a result, Federal Student Aid has adjusted the reallocation process for supplemental FWS funds to assist those students impacted by the hurricanes. Normally supplemental funds are reallocated to other eligible schools but the new legislations provides supplemental FWS funds to be allocated to schools that are in the FEMA-declared disaster areas, and schools that have enrolled a significant number of students that live in the FEMA-declared disaster areas. to work with Congress on additional flexibilities for hurricane-impacted students and schools. Schools are strongly encouraged to award these funds to students impacted by the hurricanes.
Institutions participating in the FWS and FSEOG programs are normally required to provide a non-Federal share under each program. Certain institutions, however, are eligible for a waiver of those requirements. To receive a waiver of the FWS and FSEOG non-Federal share requirement, the institution must be designated as an eligible Title III or Title V institution. If an institution is designated as a Title III or Title V institution for Federal Fiscal Year 2018 it will receive a waiver of the requirement for the non-Federal share of earned compensation paid to students under the FWS Program and of FSEOG funds awarded to students for the 2018-19 Award Year.
Institutions that are determined eligible for a Title III or Title V program automatically receive the waiver of the non-Federal share requirement for the Campus-Based Programs for the 2018–19 Award Year. No further action is required.
Institutions that are not designated as eligible for a Title III and Title V program have the option to complete the Application for Designation as an Eligible Institution by the deadline which will be announced in the Federal Register in early 2018.
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.
Schools that participate in Campus Based Programs like SEOG, FWS and Perkins are required to report prior information and apply for the upcoming award year by completing the FISAP each year. This year the FISAP became available on the ecampus based (eCB) website on August 1st and it’s due by September 30. http://bit.ly/2aotMZE