NASFAA’s Credential Training The Campus-Based Programs Janette Rozell Assistant Director of Financial Aid & Compliance Georgia Gwinett College GASFAA Winter Workshop February 24, 2017

Lesson 1: Campus-Based Common Provisions

Campus-Based Common Provisions Federal programs administered by schools All three programs share certain common provisions FSEOG FWS Perkins Loan

Application Process Schools apply to the U.S. Department of Education Participation E-App Federal Funds FISAP

Matching Requirements Schools match a portion of the federal allocation

Matching Requirements Schools match a portion of the federal allocation Exceptions

Transfer of Funds Between Programs Schools may transfer campus-based funds Up to 25% of Perkins Loan FCC Perkins Loan FWS FSEOG Work-Colleges Program

Transfer of Funds Between Programs Schools may transfer campus-based funds Up to 25% of FWS total allocation Perkins Loan FWS FSEOG Work-Colleges Program

Transfer of Funds Between Programs Schools may transfer campus-based funds Up to 25% of FSEOG total allocation, but only to FWS Perkins Loan FWS FSEOG Work-Colleges Program

Independent and Part-Time Students If an allocation is based on their financial need, a reasonable portion must be available to these students No minimum enrollment requirement

Carry-Forward Option Schools may carry forward up to 10% of current allocation for: FWS FSEOG Funds must be spent first and matched using next year’s funds

Carry-Back Option Schools may carry back up to 10% of current allocation for: FWS FSEOG Summer options Funds must be matched

Administrative Cost Allowance Running a Community Service FWS Program Training FWS tutors Complying with consumer information requirements Payment of staff salaries Office equipment and supplies Travel, such as for training

Underutilization of Allocation Schools must reallocate unspent funds Returning more than 10% of an allocation will affect future allocations Waiver of the penalty may be requested

Lesson 2: The Federal Supplemental Educational Opportunity Grant Program

FSEOG Student Eligibility Meet general eligibility criteria Demonstrate financial need Pursuit of first baccalaureate degree Award may be prorated if less than full time Cost of attendance (COA) – Expected family contribution (EFC) = Financial Need

FSEOG Award Amounts Awarded for one year at a time Minimum: $100 Maximum: $4,000 School determines award amounts Maximum of $4,400 during study abroad

FSEOG Selection Groups First group: Second group: EFC Pell LEU exceeded prior to first payment period

Lesson 3: Federal Work-Study

FWS Student Eligibility Meet general eligibility criteria Demonstrate financial need Undergraduate and graduate students No minimum or maximum award amount School determines award amounts School may use its allocation in several ways

Eligible Employment On campus or off campus employers May need to include work: In the public interest Related to student’s educational program Not involving solicitation of other potential students

Eligible Employment Federal, state and local employment laws apply Cannot displace regular employees May need off-campus employment agreement

Payments to Students Students must be paid for time worked At least federal minimum wage At least monthly Undergraduate Hourly Graduate Hourly or Salary

Payments to Students Schools may use various payment methods Nonfederal share may be in noncash contributions Federal share cannot pay fringe benefits or employer share of mandatory payments Students may be exempt from: Withholdings FICA taxes Disaster-affected students may be paid FWS

Community Service Requirement Must spend at least 7% of FWS allocation for work of benefit to community Must employ at least one reading tutor School returns unspent portion of 7% requirement Waiver may be requested

Community Service Requirement Must be services designed to improve quality of life or solve problems for community members On-campus CS positions must be open to the public Encouraged to include jobs promoting civic education and disaster preparedness Must inform FWS students about CS jobs May pay for travel time to/from CS jobs

Lesson 4: The Federal Perkins Loan Program

Loan Types Name changed over time National Defense Student Loan National Direct Student Loan 7/1/72 7/1/87 11/1/04 Federal Perkins Loan

Program Status Authorized through 9/30/15 Continue disbursing 2015–16 loans first disbursed before 10/1/15 No loans for 2015–16 to new borrowers after 9/30/15 May offer new loans after 9/30/15 to prior borrowers (borrowed in 2014–15 or earlier) At least one disbursement on or before 6/30/15 Enrolled at same school Enrolled in same program Awarded entire Direct Subsidized loan eligibility first

Student Eligibility Meet general eligibility criteria Demonstrate financial need Priority given to exceptional need Undergraduate and graduate students Willingness to repay Prior total and permanent disability discharge of Title IV or TEACH Grant may affect eligibility

Perkins Loan Award Amounts Awarded for one year at a time Loan limits may be exceeded by up to 20% for study abroad students Annual Limit Aggregate Limit Undergraduate $5,500 $27,500* Graduate $8,000 $60,000** * Students in first or second year of a program cannot exceed $11,000. ** Includes all undergraduate borrowing.

Master Promissory Note Legal contract obligating student to repay Must use Perkins MPN approved by the ED Paper eMPN Single-year or multi-year option Multi-year MPN expires

Disclosures and Counseling Pre-disbursement disclosures, in writing Exit counseling, in person or electronically Before student ceases half-time enrollment, graduates or leaves school Within 30 days of learning student left or did not complete exit counseling Collect borrower information Repayment disclosures, in writing

Perkins Loan Repayment Grace period Initial Post-deferment Repayment period and payment amounts Deferment Forbearance

Perkins Loan Repayment Cancellation Discharge Death Total and Permanent Disability Default Rehabilitation