Publication Date: January
2006
DCL ID: CB-06-01
Subject: Tentative 2006-2007
Funding Levels for the Campus-Based Programs
Summary: This letter announces
the posting of schools' tentative 2006-2007 funding levels for the campus-based
programs.
Posted on 01-19-2006
Dear Colleague:
Your school's tentative
funding levels and corresponding worksheets for the Federal Perkins Loan (Perkins
Loan), Federal Work-Study (FWS), and/or Federal Supplemental Educational Opportunity
Grant (FSEOG) programs for the award period July 1, 2006 through June 30, 2007
will be posted to the eCampus-Based (eCB) Web site (http://www.cbfisap.ed.gov)
no later than January 31, 2006. These tentative funding levels are determined
in accordance with the Higher Education Act of 1965, as amended (HEA), and the
regulations for the campus-based programs.
Note: In
accordance with the Departments of Labor, Health and Human Services, and Education,
and Related Agencies Appropriations Act, 2006 (P.L. 109-149) there will be no
funds available for new Federal Capital Contributions (FCC) for the Perkins
Loan Program for the 2006-2007 Award Year.
Attached to this letter
is an explanation of the calculation of each tentative funding level contained
in the worksheet for each program. We will notify your school by e-mail when
its tentative funding levels and worksheets are available on the eCB Web site
(http://cbfisap.ed.gov/). We will send
this e-mail to the Financial Aid Administrator provided in your school's most
recently submitted Fiscal Operations Report and Application to Participate (FISAP).
To access your school's
letter and worksheets, log in to the eCB Web site, select the "Self-Service"
link from the top navigation bar, and scroll to the "Campus-Based Notifications
for All Available Award Years" section. Then, scroll to the "Tentative
Funding Levels" bullet and select the "2006-2007" link next to
it. Please review your school's worksheets carefully.
Final awards for the 2006-2007
Award Year will be posted to the eCB Web site no later than March 31, 2006.
Reductions In Allocation
Funding Levels Due To Prior Year Underuse
In accordance with sections
413D(d)(2), 442(d)(2) and 462(i)(4) of the HEA, if a school returns more than
10 percent of its Perkins Loan, FWS, or FSEOG allocation, respectively, for
an award year, the allocation for the second succeeding award year for that
program is reduced by the dollar amount returned from the earlier year. Your
school can determine if its 2006-2007 funding level was reduced because of the
underuse of 2004-2005 funding by reviewing the worksheet lines labeled "Under
Used Percentage" and "Allocation Reduction." The law also provides
that the Secretary can waive the underuse penalty for a school if its enforcement
would be contrary to the interests of the affected campus-based program. A request
for a waiver of any 2006-2007 Award Year penalty for the underuse of 2004-2005
Award Year funds should be submitted to the Department using the eCB Web site's
FISAP process (Part II, Section C and the Additional Information screens). Requests
must be submitted no later than February 10, 2006.
Additional Locations
Not Eligible As Of September 30, 2005 Must Be Eligible By March 1, 2006
Schools were permitted
to include data in the Fiscal Operations Report for 2004-2005 and the Application
to Participate for 2006-2007 for students enrolled in additional locations that
had not yet received eligibility determinations by the September 30, 2005 FISAP
submission date. If a school does not receive an eligibility letter and Program
Participation Agreement from the Department by March 1, 2006 for the newly listed
locations, it must submit revised FISAP data using the eCB Web site no later
than March 8, 2006. The school's revision must remove all data pertaining to
students enrolled at the ineligible locations.
Please review the 2006-2007
tentative funding worksheets carefully. For additional information about tentative
funding levels, contact the Campus-Based Call Center, at 877/801-7168. Customer
service representatives are available Monday through Friday 8:00 A.M - 8:00
P.M. (ET). You may also e-mail CBFOB@ed.gov.
Sincerely,
Sherlene McIntosh
Acting Director, Campus-Based Systems and Operations Division
Federal Student Aid
Attachments/Enclosures:
CB-06-01:
Tentative 2006-2007 Funding Levels for the Campus-Based Programs in PDF Format,
54KB, 2 pages
Explanation
of Worksheets in MS Word Format, 79KB, 14 pages
Expected
Family Contribution (EFC) Procedures in MS Word Format, 23KB, 1 page
EFC
Averages in Excel Format, 17KB, 1 page
