Federal Student Aid - IFAP
   

Award Year: 2008-2009

Chapter: --2008-2009 Federal Student Aid Handbook Errata and Updates

Section: --2008-2009 Federal Student Aid Handbook Errata and Updates

Page Numbers:


Posted on 09-30-2008


handbook cover

2008-2009 Federal Student Aid Handbook Errata and Updates


Unless otherwise indicated, 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.

For questions about the Handbook contents, you can contact the Schools Publications staff at: fsaschoolspubs@ed.gov

Application and Verification Guide

  • P. 19  The word "family" was removed from the sentence on family-owned small businesses.
  • P. 79  The margin note on the HEROES Act was edited slightly to clarify the Secretary's continuing authority to issue waivers and modifications.

Volume 1: Student Eligibility

  • P. 50  The "PX" loan status code was added.
  • P. 67  The link to the list of SMART grant-eligible majors at the top of the page was corrected.

The following correction is not reflected in the print version of Volume 1.

  • P. 5  At the end of the third paragraph, page 70 should be 72.

Volume 2: School Eligibility and Operations

  • P. 112  In the FERPA sidebar, the link to the Family Policy Compliance Office is incorrect. The link should read: www.ed.gov/policy/gen/guid/fpco/index.html.
  • The following correction is not reflected in the print version of Volume 2.

  • P. 72  The years referenced in the fourth paragraph should be updated for 2008-09 so that it reads: "Schools must make available to prospective students no later than July 1, 2008, the rates for the cohort for which the 150% of the normal time for completion elapsed between September 1, 2006, and August 31, 2007."
  • p. 2-61 Under "Changes requiring prior written approval from ED," item #7 should be corrected to read " 7. changes to the FSA programs for which the school is approved (Approvals from your accrediting agency and state authorizing agency are not required for this change.) (#37)"

Volume 3: Calculating Awards & Packaging

  • page 3-116 of the 08-09 FSA Handbook (Chapter 6, Awarding Campus Based Aid), the amounts under the heading "Awarding Perkins Loans" changed in the middle of the award year. The revised amounts are as follows:

    The maximum amount an undergraduate student may borrow is $5,500 per award year, the max for a graduate or professional student is $8,000 per award year. The aggregate loan limits directly below this should read: $11,000 for any student who has not completed two academic years of undergraduate work, $27,000 for an undergraduate who has completed two academic years and is pursuing a bachelor's degree, and $60,000 for a graduate or professional student , including loans borrowed as an undergraduate student.

Volume 5: Overawards, Overpayments, and Withdrawal Calculations

The following corrections are not reflected in the PDF files for Volume 5.

  • Rows four and five in the table on p. 117 have been revised to read as follows (text in blue shows the emphasized changes):

    School Written notification providing the student (or parent) the opportunity to accept all or part of a post-withdrawal disbursement of Title IV loan funds, (Perkins, FFEL, Direct Loan, or PLUS) to the student's account Within 30 days of disbursement of loan funds, in accordance with requirements for notifications and authorizations 34 CFR 668.22(a)(4)(i)(B)
    School Written notification of student's eligibility for a direct post-withdrawal disbursement of Title IV loan funds in excess of outstanding current (educationally related) charges Within 30 days of date school determined student withdrew


  • Row three in the table on p. 118 has been revised to read as follows (text in blue shows the emphasized changes):

    School Written notification of student's eligibility for a direct post-withdrawal disbursement of Title IV loan funds in excess of outstanding current (educationally related) charges
    • Identify type and amount of the Title IV loan funds that will make up the post-withdrawal disbursement not credited to student's account
    • Explain that student or parent may accept all or part of the disbursement
    • Advise student or parent that no post-withdrawal disbursement of Title IV loan funds will be made unless school receives response within the timeframe established by the school

Volume 6: Managing Campus-Based Programs

The following correction is not reflected in the PDF files for Volume 6.

  • P. 108  Disregard the last two sentences of the "Medical Technician" definition. These are the sentences that begin "You can find a list..." and end with "...all allied health professions." The list that the URL takes you to has been expanded--it now includes health professions that do not qualify as "allied health"--therefore one can no longer use that list for purposes of medical technician cancellations.