Posted Date: February 24, 2015

Author:  Sue O'Flaherty, Service Director, Program Management, Federal Student Aid

Subject: 2015-2016 Final Funding Authorizations for the Campus-Based Programs

In a January 23, 2015 Electronic Announcement we informed institutions of tentative 2015-2016 funding levels for the Campus-Based programs. We now announce that final 2015-2016 Campus-Based programs funding worksheets and the 2015-2016 Statement of Account for each of the Campus-Based programs will be posted to the eCampus-Based (eCB) Web site by April 1, 2015.

A school's 2015-2016 final funding authorization for each of the Campus-Based programs is based on the applicable statutory formula and on the amount of funds appropriated by Congress for that program. A school will not receive a 2015-2016 final funding authorization amount for a Campus-Based program that is in excess of its request for funds made for that program on the Fiscal Operations Report for 2013-2014 and Application to Participate for 2015-2016 (FISAP) that the school previously submitted to the Department of Education (the Department).

The Consolidated and Further Continuing Appropriations Act, 2015 (Pub. L. 113-235) was enacted on December 16, 2014. It appropriated funds for the Federal Work-Study (FWS) and Federal Supplemental Educational Opportunity Grant (FSEOG) programs to be allocated to schools for the 2015-2016 Award Year. Note that no funds were appropriated for the Federal Perkins Loan (Perkins Loan) Program.

The total 2015-2016 Federal funds available for allocation to schools under the FWS, FSEOG, and Perkins Loan programs are as follows:

Program Total Federal Funds Available for Allocation to Schools
FWS $ 989,728,000
FSEOG $ 733,130,000
Perkins Loan $ 0

The information that follows provides important information related to the final funding authorizations.

How the Campus-Based Awards for a School are Determined

A school's final funding level for each of the Campus-Based programs is determined in accordance with provisions of the Higher Education Act of 1965, as amended (HEA), and by the implementing regulations at 34 CFR Part 673. The final funding worksheets posted on the eCB Web site will show the information that was used in the calculation of each of the school's 2015-2016 Campus-Based allocations.

Returning more than 10 percent of the 2013-2014 Allocation for one of the Campus-Based Programs Affects a School's 2015-2016 Allocation

As required by the HEA, unless a waiver had been granted, if a school returns more than 10 percent of its Perkins Loan, FWS, or FSEOG program allocation for an award year, the school's allocation for that program in the second succeeding award year will be reduced by the amount returned. Thus, underutilization of 2013-2014 funds could impact a school's allocation of 2015-2016 funds.

We accepted requests for a waiver of any 2015-2016 Award Year penalty for the underuse of 2013-2014 Award Year funds with the initial submission of the FISAP or with any FISAP edit submissions received through the February 9, 2015 waiver request deadline. We reviewed the waiver requests received, notified the financial aid administrators at the requesting schools of our decisions, and posted the decision letters to the eCB Web site. Any school that underutilized its 2013-2014 allocation by more than 10 percent and did not receive approval of a waiver request will see an adjustment in the applicable final funding worksheet on the line labeled "Allocation Reduction."

Notification of 2015-2016 Campus-Based Allocations

In addition to this Electronic Announcement, individual schools will be notified by e-mail that the 2015-2016 Campus-Based allocation information has been posted to the eCB Web site. We will send this e-mail to each school's financial aid administrator, as provided in the school's most recently submitted FISAP or as updated via the "Contact Info" page on the eCB Web site. This e-mail will advise the school that it can access its 2015-2016 Campus-Based allocation information as follows:

Statement of Account: Awards for each Campus-Based program in which the school participates will be reflected in the school's 2015-2016 Statement of Account on the eCB Web site. To access the Statement of Account:

  • Log in to the eCB Web site
  • Select the "Self-Service" link from the top navigation bar
  • Scroll to the "Campus-Based Notifications for All Available Award Years" section
  • Scroll to the "Statement of Account" bullet
  • Select the "2015-2016" link

Final Funding Worksheets: Final funding worksheets for each Campus-Based program in which the school participates will be posted on the eCB Web site. To access the final funding worksheets:

  • Log in to the eCB Web site
  • Select the "Self-Service" link from the top navigation
  • Scroll to the "Campus-Based Notifications for All Available Award Years" section
  • Scroll to the "Final Awards" bullet
  • Select the "2015-2016" link

Attached to this announcement is an explanation of the calculation of the final funding authorization contained in the worksheet for each program.

Reallocation of Additional Campus-Based Funds for the 2015-2016 Award Year

All of the Campus-Based funds available for the 2015-2016 Award Year have been allocated in this final Campus-Based allocation process. However, some schools may qualify for supplemental 2015-2016 Campus-Based funds based upon a reallocation of funds not spent by institutions from 2014-2015 allocations. Specific information on the reallocation process and the electronic application for requesting additional funds will be provided in subsequent communications.

"Total Authorized Level of Expenditure" or "LOE" for the Federal Perkins Loan Program

Even though there is no new federal capital contribution for the 2015-2016 Award Year, the Level of Expenditure (LOE) amount shown on a school's Statement of Account and Perkins Loan final funding worksheet represents the maximum amount the school is authorized to expend from its Perkins Loan fund for the 2015-2016 Award Year. If the school wants to request an increase in its LOE, it must contact the School Participation Division at the Department’s regional office that serves the state in which the school is located. School Participation Division Contact Information is available on the Information for Financial Aid Professionals (IFAP) Web site.

Contact Information

For additional information about 2015-2016 Campus-Based allocations, contact the Campus-Based Call Center at 877/801-7168. Customer service representatives are available Monday through Friday from 8:00 A.M. until 8:00 P.M. (ET). You may also e-mail CBFOB@ed.gov.

Attachments/Enclosures:

2015-2016 Explanation of Final Worksheets in PDF Format, 72KB, 15 Pages

   

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