| AwardYear: 1998-1999 EnterChapterNo: 4 EnterChapterTitle: Federal Pell Grant Program SectionNumber: SectionTitle: Contents PageNumbers: INTRODUCTION . . . . . 1 Updates . . . . . 1 SECTION 1: STUDENT ELIGIBILITY . . . . . 3 General Eligibility Requirements . . . . . 3 Undergraduate Student . . . . . 4 Incarcerated Students . . . . . 5 The EFC and Federal Pell Grant Eligibility . . . . . 5 Documenting the Student's Eligibility for Payment . . . . . 6 SECTION 2: CALCULATING THE FEDERAL PELL GRANT . . 9 Basic Concepts . . . . . 9 Choosing a Formula . . . . . 11 Determining Enrollment Status . . . . . 14 Calculating the Cost of Attendance . . . . . 19 Determining the Annual Award . . . . . 23 Determining the Payment Periods . . . . . 24 Calculating the Payment for a Payment Period . . . . . 29 Checking Remaining Eligibility: Crossover Payment Periods . . . . . 37 Summer Terms . . . . . 38 Checking Remaining Eligibility: Transfer Students . . . . . 41 Two Mathematical Notes . . . . . 44 SECTION 3: SPECIAL PROGRAM CONSIDERATIONS . . . . . 45 Consortium Agreements (Between Eligible Schools) . . . . . 45 Cooperative Education . . . . . 48 Correspondence Study . . . . . 49 Correspondence Study Combined with Regular Study . . . . . 52 Foreign Study . . . . . 53 Job Training (JTPA) Programs . . . . . 53 Remedial Coursework . . . . . 54 Terms with Clock Hours . . . . . 55 SECTION 4: DISBURSING FEDERAL PELL GRANT AWARDS . . . . . 57 School Certification and Student Eligibility . . . . . 57 Methods of Disbursement . . . . . 58 First Payment Options . . . . . 59 Timing of Payments . . . . . 59 Students Who Withdraw and Later Return . . . . . 62 SECTION 5: RECALCULATING FEDERAL PELL GRANT AWARDS . . . . . 65 Change in the EFC . . . . . 65 Change in Enrollment Status . . . . . 66 Change in Cost of Attendance . . . . . 67 SECTION 6: OVERPAYMENTS AND OVERAWARDS . . . . . 69 Overpayments . . . . . 69 Financial Aid Transcripts . . . . . 70 Reporting Overpayments Collected . . . . . 71 Problems in Collecting Overpayments . . . . . 71 Preventing Overawards . . . . . 72 SECTION 7: REPORTING DISBURSEMENTS . . . . . 75 Reporting Methods . . . . . 76 Payment Data . . . . . 77 Specific Payment Data Items . . . . . 78 Reporting Deadlines . . . . . 81 Processed Payment Data . . . . . 83 Reporting Changes . . . . . 85 Student Payment Summary . . . . . 87 Administrative Cost Allowance . . . . . 90 Requesting Funds . . . . . 90 APPENDIX A: CALCULATION SUMMARIES BY FORMULA . . . . . 91 APPENDIX B: DESCRIPTION OF THE STUDENT PAYMENT SUMMARY . . . . . 101 APPENDIX C: STUDENTS APPEARING MORE THAN ONCE ON THE SPS . . . . . 109 APPENDIX D: RECONCILING STUDENT PAYMENT DATA . . . . . 113 |