092420ReminderFISAPdueNov22020

Author
Federal Student Aid
Subject
Reminder – FISAP due Nov. 2, 2020

This is a reminder of the upcoming deadline for submitting the Fiscal Operations Report for 2019–20 and the Application to Participate for 2021–22 (FISAP) for the Campus-Based Programs. As noted in the July 10, 2020 Electronic Announcement, the date by which a school must submit the FISAP and the required signature has been extended to Monday, Nov. 2, 2020.

All schools requesting Federal Supplemental Educational Opportunity Grant (FSEOG) and Federal Work-Study (FWS) program funds for the 2021–22 Award Year and/or that had either FSEOG and FWS expenditures or Federal Perkins Loan (Perkins Loan) activity for the 2019–20 Award Year are required to electronically submit a FISAP via the Common Origination and Disbursement (COD) website. Schools that closed during the 2019–20 Award Year are required to complete and submit a final FISAP to report 2019–20 Campus-Based expenditures.

The COD website allows a school to complete and submit its FISAP online, receive real-time validation edits, and access prior-year data to assist in completing the FISAP. Schools should review all validation edits and ensure accuracy of the information reported. For information about accessing the FISAP on the COD website and to review important reporting reminders, refer to the August 3, 2020 Electronic Announcement announcing that the 2021–22 FISAP is available.

The deadline for electronic submission of the FISAP is 11:59 p.m. Eastern time (ET) on Nov. 2, 2020. Transmissions must be completed prior to midnight. Additionally, the signature page must be printed, signed, and mailed by the Nov. 2, 2020 deadline. Signature requirements and instructions can be found in the 2021–22 FISAP Instructions, page 14.

FISAP Reminders

  • Click “Submit” – Remember that saving data into the FISAP online is not the same as submitting the FISAP. Data can be entered and saved as a school user works through the form, but it is not actually submitted until the school user clicks on “Submit.”

  • Consequences for Not Filing the FISAP – 2019–20 Campus-Based funding levels will be reduced to zero ($0) for a school that received 2019–20 Campus-Based funds but fails to file the FISAP by the deadline. This includes schools that closed during the 2019–20 year and drew Campus-Based funds for that year from G5. Any 2019–20 program funds that have been drawn down in G5 will be required to be returned to the Department of Education (the Department). Campus-Based funds for the 2021–22 Award Year will not be awarded to schools that fail to file the FISAP.

    Schools must provide true and accurate data and must not roll forward data previously reported on last year’s FISAP just to meet the deadline.

    Note: Failing to accurately and timely file the FISAP may result in referral to FSA’s Program Compliance office for further review and action. These actions may include fines, and a limitation, suspension, or termination of your institution’s eligibility to participate in the Campus-Based Programs. In addition, through the signature process, the President/CEO has certified that information in the FISAP is true and accurate and in compliance with legislation and regulations. Providing false and misleading information can result in fines, prison, or both.

  • Updated Financial Aid Administrator (FAA) Contact Information Required – All Campus-Based notifications are sent via email to the FAA. For timely receipt of these notifications, it is important that a school ensures the accuracy of its FAA contact information, including the FAA email address. A school can update its contact information when submitting the FISAP or by selecting “School Information” then “Demographics” on the Campus-Based section of the COD website. All changes or corrections to contact information must also be updated in the Program Participation Agreement using the E-App website.

  • Automatic Underuse Penalty Waiver– As announced in the August 3, 2020 Electronic Announcement, schools that return more than 10 percent of their 2019–20 FSEOG or FWS allocation do not need to request a waiver for the underuse of funds penalty in Part II, Section C, Line 6 of the FISAP. Underuse penalties will not be applied on any 2021–22 FWS or FSEOG awards for all schools due to the impact of the COVID-19 emergency.

  • Accuracy Helps Avoid Negative Balances – Make sure the information reported for expenditures of 2019–20 award amounts are accurate and consistent with the amounts drawn in G5. For example, if a school's FWS authorized amount was $50,000 and the school reported an expended amount of $40,000 on the FISAP (Part V, Section E, Field 18), the school's award will be closed out at the expended amount of $40,000 (i.e. the $10,000 difference will be deobligated from G5). If the amount the school has drawn from G5 is different from the expended amount reported on the FISAP, we will assume that the correct expenditures are the amounts reported on the FISAP and certified by the Chief Executive Officer in Part I, Section B. In some cases this results in a negative balance which is required to be returned by the school to the Department. Using the above example, if the school drew down its entire $50,000 FWS authorization from G5, it would need to return $10,000.

  • Edit Corrections through Dec. 15, 2020 – Once a FISAP is submitted, the school can submit corrections until 11:59 p.m. ET on Dec. 15, 2020. Data can be entered and saved as a school makes corrections. If corrections are made, remember to submit them. Transmissions must be completed prior to midnight. Note: After the Dec. 15, 2020 deadline for submitting corrections, approval of FISAP change requests is reserved for exceptional issues only.

Perkins Loan Reporting Reminders

  • Report the correct data for all cumulative and annual reporting for Perkins Loans.

  • Schools that had cash in their Perkins Loan Revolving Fund (Perkins Fund) were notified of the required distribution of assets process and the required amount of the federal share to remove and return to the Department; the required amount of the institutional share to remove and return to the school; and if eligible the amount to remove and reimburse the school for service cancellations.

    • If your school returned the federal share, report the cumulative federal share repaid to the federal government from the Perkins Fund in Part III, Section A, line 28.1 “Repayments of fund capital to federal government.” (Line 28.1 should be the sum of the cumulative amount reported in line 28 on last year’s FISAP plus the amount the school repaid in 2019–20.)

    • If your school returned the institutional share to the school, report the cumulative institution share repaid from the Perkins Fund in Part III, Section A, line 30.2 “Repayments of excess/liquidated fund capital to Institution.”

    • If your school was eligible for reimbursement of Perkins loan service cancellations and was notified of the amount to reimburse the school from the Perkins Fund, report the amount that the school was reimbursed from the Fund for cancellations in Part III, Section A, line 28.2 “Service cancelation reimbursement received on or after 07/01/2019.”

Online Help is Available 24/7 – If additional help is needed, the COD website has several documents that can be accessed online as well as a series of frequently asked questions and answers (Q&As).

2021–22 FISAP Desk Reference

2021–22 FISAP Instructions

Q&As

Contact Information

If you have any questions about the FISAP submission deadline, contact the COD School Relations Center at 1-800-848-0978. You may also email CODSupport@ed.gov.