2003-2004 FSA Handbook Errata and Updates

Award Year: 2003-2004

Chapter: --2003-2004 FSA Handbook Errata and Updates

Section: --2003-2004 FSA Handbook Errata and Updates

Page Numbers:

Posted on 11-06-2003

2003-2004 Federal Student Aid Handbook Errata and Updates

The errata and updates below are items that were amended after the initial PDF files were posted to the Web and before the Handbook went to print.

fsaschoolspubs@ed.gov

Application and Verification Guide

P. 3 Under the sidebar note "Exception to FAFSA filing requirement," the parenthetical phrase about many schools requiring the completion of a FAFSA was removed.
P. 7 The first deadline in the bulleted list was updated to September 6, 2004, and the rest of the deadlines in the list were updated to September 17, 2004.
P. 11 The words "federal or state" were added just before the word "conviction" in the second-to-last line on the page.
Pp. 19 and 20 The guidance for the treatment of Coverdell education savings accounts was corrected to read that they are to be treated as assets of the account owner.
P. 29 The last sentence of the first paragraph and the entire second and third paragraphs were added to incorporate recent guidance on dependency overrides.
P. 46 In the last paragraph the Preparer Tax Identification Number (PTIN) was added as a valid identifier to complement the preparer's name.
P. 52 The "S" verification status code was added.
P. 59 In the first paragraph under "Household size and number in college," the text that stated that household size and number in college were not to be updated due to remarriage of a parent between application and verification was removed, and revised guidance was added as the sidebar note titled "Parent remarriage after applying."

Volume 1: Student Eligibility

P. 14 The phrase "federal or state" was added to the first sentence on the page.
P. 131 In the page title DCS was replaced with ED Collections.

The following errata did not make the print edition of the Handbook and also are not reflected in the PDF files for Volume 1.

P. 6 The first sentence under "Counting previous test results" should read that the student must have the test publisher or the assessment center submit the official test score notification.
P. 70 The chart should show that for comment 57 a C-code is generated.

Volume 2: Institutional and Program Eligibility

P. 116 The second paragraph has been changed. The revised text reads:
"The intent of the statute was to permit an institution to consider all Title IV aid that was disbursed or could have been disbursed to a student for an entire period of enrollment, as long as the conditions for making a late disbursement (see chapter 5) are met. Even though a second or subsequent FFEL or Direct Loan disbursement can not be made, it may be counted as aid that could have been disbursed for purposes of determining earned Title IV aid regardless of whether the institution was prohibited from making the disbursement on or before the day the student withdrew. However, a student can never receive as a post-withdrawal disbursement funds from a second or subsequent FFEL or Direct Loan disbursement that the institution was prohibited from making to the student on or before the date of the student’s withdrawal."
Duplicate copy of Chapter 9 in the master PDF file for Volume 2 has been removed and pagination corrected.

The following errata did not make the print edition of the Handbook and also are not reflected in the PDF files for Volume 2.

P. 93 The last bullet on the page should be deleted.
P. 116 Under Effects of the 30-day delayed disbursement requirement, please change may be included to must be included. Also, please note that the late disbursement conditions that must be met before the student withdrew include:
- for all Title IV aid (except a PLUS loan), the Department has processed a Student Aid Report (SAR) or Institutional Student Record (ISIR) with an official Expected Family Contribution (EFC);
- for an FFEL loan or Direct Loan, the institution certified or originated the loan as applicable; and
- for a Federal Perkins Loan or FSEOG award, the institution made the award to the student.
P. 257 Under The annual security report, please note that the second sentence should begin The crime report due October 1, 2003. The year was incorrectly stated as 2002.
Pp. 135 and 171 The fax numbers have changed to (319) 665-7747 or (319) 665-7647.

Volume 3: FSA Handbook: Federal Pell Grant Program

P. 22 Under "Actual or Average costs," there is an incorrect reference to average costs. The correct reference for the discussion of average costs is in Volume 1 (Student Eligibility), Chapter 7, page 1-120 (2003-2004 edition).

Volume 5: FSA Handbook: Federal Perkins Loan

The following errata did not make the print edition of the Handbook and also are not reflected in the PDF files for Volume 5.

P. 31 The "Low-Income Individual Maximum 2002 Income Levels for 2003-2004 Award Year" graphic on page 5-31 of Volume 5, Chapter 4 contains inaccurate dollar figures. The revised dollar figures are as follows:

Number of Family Member (including Student)

1

2

3

4

5

6

Maximum 2002 Income Level

$9,320

$16,838

$20,963

$25,888

$30,553

$35,725

Also, on the same graphic, please change the "Maximum 2001 Income Level" to "Maximum 2002 Income Level."

Volume 8: FSA Handbook: Direct Loan and FFEL Programs

The following errata did not make the print edition of the Handbook and also are not reflected in the PDF files for Volume 8.

P. 116 The second paragraph has been changed. The revised text reads:
"The intent of the statute was to permit an institution to consider all Title IV aid that was disbursed or could have been disbursed to a student for an entire period of enrollment, as long as the conditions for making a late disbursement (see chapter 5) are met. Even though a second or subsequent FFEL or Direct Loan disbursement can not be made, it may be counted as aid that could have been disbursed for purposes of determining earned Title IV aid regardless of whether the institution was prohibited from making the disbursement on or before the day the student withdrew. However, a student can never receive as a post-withdrawal disbursement funds from a second or subsequent FFEL or Direct Loan disbursement that the institution was prohibited from making to the student on or before the date of the student’s withdrawal."
P. 13 The second paragraph's last sentence should be deleted and the next-to-last sentence revised to read:
However, you may not make a late disbursement of a PLUS Loan unless you certified the PLUS loan for the benefiting student before the date the student graduated, withdrew, was expelled, or dropped below half-time enrollment.
P. 22 The non-term example in the sidebar titled "Annual loan limits for students who change programs or transfer" should be revised to read:

For instance, if the student enrolls in a 900 clock-hour program that runs from Jan 5 to June 15, but then transfers into another 900 clock hour program that begins on April 7, the Stafford amount for the academic year in the new program cannot exceed $2,625, minus the amount received at the first school.
P. 23, The first paragraph under "Transfers & grade level" should be revised to read:

If youre awarding a Stafford loan to a student who is transferring from an associate or bachelors degree program to a program at your school, you may use the loan limits for a student in the second year or higher level of study if your school classifies the student at that level based on the number of academic credits it accepts from the prior school. (If an associate degree is required for entry into a program at your school, you would always use the third-year loan limits for a student with an associate degree who transfers to that program.)

The second paragraph, regarding "life experience" should be deleted.

There are currently no errata or updates for the other volumes of the 03-04 Handbook.