Transcript Campus-Based Programs

PELL & CAMPUS-BASED
PROGRAMS
FEDERAL PELL GRANT
PELL GRANT
• Undergraduate, prior to earning first Bachelors/Professional degree
(includes foreign degrees)
• Postbaccalaureate program
• the program does not lead to a graduate degree;
• the school offering the program does not also offer a bachelor’s
degree in education;
• the student is pursuing an initial teacher certification or licensing
credential within a state; and
• consists of the courses required by a state to receive a professional
certification or licensing credential necessary for employment as a
teacher in an elementary or secondary school in that state
• Amount of Pell is linked to EFC, enrollment, and school’s COA
• See chart
• Student may be eligible for payment at any enrollment status
PELL LEU
• Pell Lifetime Eligibility Unit
• Students limited to 600% in lifetime Pell award
• 100% = two full semesters at full-time enrollment
• Pell LEU is tracked in COD
• Person Search – click on Pell link
PELL LEU
• Students who have received over 500% in lifetime
eligibility at the end of the 1213 award year will
have reduced eligibility for the 1314 award year
• ISIR contains comment code regarding Pell LEU
• 346 – student is close to lifetime eligibility (over 500%)
• 347 – student has reached lifetime eligibility (600%) or is over
• Other comment codes related to PELL LEU exist for students
who are under 500% and are displayed on SAR for student
PELL GRANT
• An initial calculation is the first calculation of a
student’s Federal Pell Grant award.
• The institution must use the current, documented
enrollment status (may be a projected status).
• If no date documented, the date of initial
calculation is the later of:
• Processed date of the initial SAR or ISIR, or
• Date the student enrolls
PELL GRANT
• Earliest possible date is date of receipt of an EFC
from an ED product (assuming Pell Payment
Schedule has been issued), such as:
• SAR or ISIR with an official EFC (processing date)
• FAA Access EFC
• FAFSA on the Web EFC
• School may choose a later date such as
completion of verification
PELL GRANT
• Pell can be recalculated when:
• Enrollment status changes between terms
• Student never begins attendance in one or more classes
• Lump sum payment according to work completed in prior
payment periods
• Must use final enrollment status of prior terms with no disbursements
• If final enrollment status for the term is different from initial calculation, must
recalculate
• Include in enrollment status only courses completed (includes earned F’s and
incompletes)
• Cannot include drops or withdrawals in enrollment status
PELL GRANT-INSTITUTIONAL OPTIONS
• Recalculations for changes in enrollment status
• Recalculates for all changes in enrollment status during the term
• Does not recalculate for changes in enrollment status at any time
in a term after initial calculation (assumes student has begun all
classes)
• Does not recalculate after a Pell recalculation date
PELL GRANT-INSTITUTIONAL OPTIONS
• May have a Pell recalculation date
• For term
• By course
• A student’s ultimate Pell recalculation date for the term is the
Pell recalculation date of the last course the student attends or
is expected to attend
• If a student drops, withdraws from, or adds a class
before Pell recalculation date, must recalculate
based on any change in enrollment status through
that Pell recalculation date
ZERO EFC TREATMENT OR
IRAQ & AFGHANISTAN SERVICE GRANT
• Zero EFC Treatment
• Otherwise Pell eligible
• Parent/guardian dies in military service in Iraq or Afghanistan after
September 11, 2001
• Use zero EFC for packaging Federal Student Aid
• Iraq and Afghanistan Service Grant
•
•
•
•
Non Pell eligible EFC
Award amount equal to maximum Pell award
Not considered estimated financial assistance for packaging
Cannot exceed COA
CAMPUS-BASED PROGRAMS
CAMPUS-BASED PROGRAMS
The campus-based programs:
• Federal Supplemental Educational Opportunity
Grant Program (FSEOG)
• Federal Work-Study Program (FWS)
• Federal Perkins Loan Program
SCHOOL PARTICIPATION IN
CAMPUS-BASED PROGRAMS
• Must be approved to participate
• Annually must complete Fiscal Operations Report
and Application to Participate (FISAP) to:
•
Apply for funds for next award year
•
Report previous award year expenditures
CAMPUS-BASED PROGRAMS COMMON
PROVISIONS
• Matching requirement
• Transfer of funds between programs
• Carry-forward and carry-back options
• Use of funds for independent students and parttime students
• Administrative Cost Allowance (ACA)
• Underutilization of funds
FSEOG PROGRAM
Program-specific requirements:
• Student eligibility
• Minimum and maximum award amounts
• Selection groups criteria
FWS PROGRAM
Program-specific requirements:
• Student eligibility
• Award amounts
• Use of funds
• Eligible employment
• Payments to students
• Community service
FEDERAL WORK-STUDY PROGRAM
• If school does not meet community service
expenditure requirements, it must return FWS funds
to ED
• Amount returned is difference between what
school should have spent and amount actually
spent for community service
FEDERAL WORK-STUDY PROGRAM
Community service positions:
• Services designed to improve the quality of life for
community residents, particularly low-income
individuals, or to solve particular problems related
to their needs
• Except for support services offered by the school to
its students with disabilities, all on-campus positions
must be for services that are open and accessible
to the community
FEDERAL PERKINS LOAN PROGRAM
• To receive a Federal Perkins Loan, student must
demonstrate a willingness to repay the loan
• Delinquency or default on a previous student loan
indicates student is unwilling to repay new loan
FEDERAL PERKINS LOAN PROGRAM
• School must use either paper Federal Perkins Loan
Master Promissory Note (Perkins MPN) or electronic
version of the note (eMPN)
• Student may choose to use the MPN as either a
single or multiple award year note, if school offers
multiple year MPN
FEDERAL PERKINS LOAN PROGRAM
School must provide certain loan information called
pre-disbursement disclosures before making the first
disbursement of a loan for an award year
Exit counseling is required before a borrower ceases
at least half-time attendance
FEDERAL PERKINS LOAN PROGRAM
Loan repayment benefits:
•
Deferment
•
Forbearance
•
Cancellation
•
Discharge
• Failure to repay can result in default
• A borrower may rehabilitate a defaulted loan only once
PERKINS
•
•
•
•
•
•
Need-based loan
Federal Loan, Institution acts as Lender and Servicer
Interest Rate: 5%
Grace period: 9 months
Maximum repayment term: 10 years
Undergraduate and Graduate students are eligible
PERKINS LOAN LIMITS
Undergraduate annual limit
$5,500
Undergraduate Aggregate limit
$27,500
Graduate annual limit
$8,000
Graduate Aggregate limit
$60,000
QUESTIONS?