Posted Date: November 4, 2015

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

Subject: Federal Perkins Loan Program Cash on Hand Update Due December 15, 2015

As published in the Federal Register Notice on January 12, 2015 (80 FR 1495), “Subject: Federal Work-Study, and Federal Supplemental Educational Opportunity Grant programs; 2015-2016 award year Deadline Dates,” all schools that participate in the Federal Perkins Loan (Perkins Loan) Program must update and submit Part III, section A, Line 1.2 (Cash on hand and in depository as of 10/31/15) on the Fiscal Operations Report for 2014-2015 (FISAP) to the Department of Education (the Department) by midnight on Tuesday, December 15, 2015. This announcement is a reminder of the deadline and process for this action.

Reporting Perkins Cash on Hand

Schools with a Federal Perkins Loan Revolving Fund must update Part III, Section A, Line 1.2 (Cash on hand and in depository as of 10/31/15) to the amount that was on hand as of October 31, 2015. Instructions for completing this item are on page III-3 of the FISAP Instructions.

Other Important Notes

Remember to submit the updated FISAP – Simply validating and/or saving the new data entry does not result in submission to the Department. After updating and validating Line 1.2, it is imperative that schools complete the process by using the “Submit” button.

Verify that changes/corrections have been received by the Department – Schools should log in to the eCampus-Based (eCB) Web site, select the “Self-Service” link in the top navigation bar and scroll to the “Acknowledgements” section to verify that the Department has received a school’s most recent submission of the FISAP. Then, select “Submission Log” to view the log and verify submission of the update.

Signature not required for FISAP changes – Schools are not required to re-send signature pages or perform eSignature functions when changes are made to a previously submitted FISAP.

Contact Information

For additional information about Perkins Loan Cash on Hand updates, 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.

   

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