Campus Based Aid

Campus Based Aid

The Leaves on Your Campus

Agenda

• Federal Supplemental Education Opportunity Grant (FSEOG)

• Federal College Work-Study (FWS)• Federal Perkins Loan• Fiscal Operations

Federal Supplemental Educational Opportunity

Grant (FSEOG)34 CFR § 676

Student Eligibility

• Eligible for other federal programs• Undergraduate only• Reasonable portions to part-time and

independent students• Exceptional need– Award in EFC order (start with $0)

Awards

• $100 annual minimum • $4,000 annual maximum• $4,400 annual maximum for approved

student abroad programs• Student enrolled less than full-time may

have award reduced

Federal Work Study Programs (FWS)

34 CFR § 675

Subparts

• Subpart A – Federal Work-Study Program (34 CFR § 675.1 – 34 CFR § 675.27)

• Subpart B – Job Location and Development Program (34 CFR § 675.31 – 34 CFR § 675.37)

• Subpart C – Work-Colleges Program (34 CFR § 675.41 – 34 CFR § 675.50)

Student Eligibility

• Eligible for other federal programs • Undergraduate or Graduate • Reasonable portions to part-time and

independent students• Financial need

Payments to Students

• Must be paid at least minimum wage • Must be paid at least monthly• Wages can be paid to student or toward

student account• Cannot be paid for receiving classroom

instruction

Eligible Employers

• Institution– Some exclusions for proprietary institutions

• Government, non-profit or private, for-profit– Must have agreement between institution and

organization

Community Service

• 7% of FWS allocation • Must have at least one student employed as: – Reading tutor project

OR– Family literacy project

Conditions

• May not: – Impair existing service contracts – Displace employees– Replace employees on strike– Construct, operate or maintain facility use for

religious worship or sectarian instruction– Be employed by U.S. Department of Education

Periods of Non-Attendance

• Must enroll for next regular session• Earnings must be counted in next term’s aid

package

Federal Share Limitations

• Institution, government, non-profit – 75% federal share

• Private, for-profit agency – 50% federal share – Max of 25% of FWS allocation per year – Must be related to major

Federal Perkins Loan34 CFR § 674

Student Eligibility

• Eligible for other federal programs• Undergraduate or Graduate• Financial need• MPN, Entrance and Exit Counseling required

Loan Limits

• Undergraduate– $5,500 annual limit– $27,500 lifetime aggregate

• Graduate– $8,000 annual limit – $60,000 lifetime aggregate

• $11,000 aggregate limit for first 2 years of academic work

Terms

• Interest rate – 5% fixed• 9 month grace period• 10 year repayment• Deferments, forbearance and cancellations

available

Deferments (no interest)

• In school• Attending graduate fellowship program• Graduate or post-graduate study outside US

(Fulbright scholar)• Rehabilitation training programs for disabled

persons• Seeking but unable to find employment (up to 3

years)• Economic hardship (up to 3 years)

Forbearance (interest accrues)

• Temporary postponement of payments, extension of time for making payments, OR acceptance of smaller payment amounts

• Economic hardship or lengthy illness• Request in writing with supporting

documentation• Not to exceed 3 years

Cancellation

• Teaching – up to 100%– Low income school or high need subject matter (math,

science, foreign language, special education)– Head Start programs/early intervention child care

• Employment – up to 100%– Nurse or medical technician, nonprofit child or family

service agency, early intervention, firefighter, law enforcement, corrections officer, faculty member at Tribal College, librarian w/ masters, or speech pathologist w/ masters

Cancellation

• Armed Forces– 50% in hostile area before August 14, 2008– 100% in hostile area after August 13, 2008

• Peace Corps service– 70% for Peace Corps service

Discharge

• Death• Total and permanent disability• Survivors of September 11, 2011 attacks

Fiscal Operations

Application

Administrative Cost Allowance

• First $2,750,000 – 5%• $2,750,000 - $5,500,000 – 4%• $5,500,000 and above – 3%

Matching Requirements

• 75% - federal share• 25% - institutional share• Title III waiver is available– http://

www2.ed.gov/programs/iduestitle3a/index.html

Transferring – up to 25%

Carry Forward/Back – up to 10%

Questions