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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.

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Campus Based Aid

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  1. Campus Based Aid The Leaves on Your Campus

  2. Agenda • Federal Supplemental Education Opportunity Grant (FSEOG) • Federal College Work-Study (FWS) • Federal Perkins Loan • Fiscal Operations

  3. Federal Supplemental Educational Opportunity Grant (FSEOG) 34 CFR § 676

  4. 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)

  5. 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

  6. Federal Work Study Programs (FWS) 34 CFR § 675

  7. 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)

  8. Student Eligibility • Eligible for other federal programs • Undergraduate or Graduate • Reasonable portions to part-time and independent students • Financial need

  9. 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

  10. Eligible Employers • Institution • Some exclusions for proprietary institutions • Government, non-profit or private, for-profit • Must have agreement between institution and organization

  11. Community Service • 7% of FWS allocation • Must have at least one student employed as: • Reading tutor project OR • Family literacy project

  12. 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

  13. Periods of Non-Attendance • Must enroll for next regular session • Earnings must be counted in next term’s aid package

  14. 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

  15. Federal Perkins Loan 34 CFR § 674

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

  17. 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

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

  19. 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)

  20. 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

  21. 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

  22. 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

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

  24. Fiscal Operations

  25. Application

  26. Administrative Cost Allowance • First $2,750,000 – 5% • $2,750,000 - $5,500,000 – 4% • $5,500,000 and above – 3%

  27. Matching Requirements • 75% - federal share • 25% - institutional share • Title III waiver is available • http://www2.ed.gov/programs/iduestitle3a/index.html

  28. Transferring – up to 25%

  29. Carry Forward/Back – up to 10%

  30. Questions

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