THIS YEARS SUPPLEMENTAL FWS WILL GO TO HELP HURRICANE VICTIMS

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.

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.

2017-2018 Fiscal Operations Report and Application to Participate (FISAP)

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