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Your Morning Brain Work Out Campus Based Programs April Gonzales UTSA.

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Presentation on theme: "Your Morning Brain Work Out Campus Based Programs April Gonzales UTSA."— Presentation transcript:

1 Your Morning Brain Work Out Campus Based Programs April Gonzales UTSA

2 Warm-Up It’s time to stretch your bodies and your brains It’s time to stretch your bodies and your brains Agenda for this session Agenda for this session –Federal Supplemental Educational Opportunity Grant (FSEOG) –Federal College Work-Study (FWS) –Federal Perkins Prepare you for the 2010 BRAIN BOWL! Prepare you for the 2010 BRAIN BOWL!

3 Warm-Up Calculate the following: # of full days for NAOW x the freshmen annual subsidized Stafford loan limit divided by the # of hours required to be FT during the fall/spring terms

4 Strength Training – Building the core muscles Campus-Based Programs Campus-Based Programs –Funds managed by the institution Matching requirements (75/25): waived for Hispanic serving institutions Matching requirements (75/25): waived for Hispanic serving institutions 25% transfer option from FWS or Perkins to FSEOG 25% transfer option from FWS or Perkins to FSEOG 3-5% Administrative allowance to offset costs 3-5% Administrative allowance to offset costs –Required FISAP reporting Report previous year’s expenditures Report previous year’s expenditures Request funds for the next year Request funds for the next year Due no later than October 1 st each year Due no later than October 1 st each year

5 The Treadmill: FSEOG Steady Pace FSEOG Eligibility FSEOG Eligibility –Undergraduate students only Cannot have received a bachelor’s degree Cannot have received a bachelor’s degree –Reasonable portions to non-traditional students –Exceptional need Award in EFC order (start with $0) Award in EFC order (start with $0) PELL recipients given priority PELL recipients given priority

6 The Treadmill: FSEOG Steady Pace FSEOG Awards FSEOG Awards –$100 annual minimum –$4000 annual maximum –$4400 annual maximum for approved study abroad programs

7 Elliptical Machine - FWS Eligibility Eligibility –Financial need –Eligibility for other federal programs –No minimums or maximums Cannot exceed financial need Cannot exceed financial need –Consider hours of employment and wage earned Periods of non-attendance Periods of non-attendance –Summer –Must enroll for next regular session –Earnings must be counted in next term’s aid package

8 Elliptical Machine - FWS Eligible Employers Eligible Employers –On Campus – 75% federal share: institutional match is waived for Hispanic serving –Government/Non-profit agency – politics and lobbying prohibited – 75% federal share –Private, for-profit agency Max of 25% of FWS allocation per year Max of 25% of FWS allocation per year Must be related to major Must be related to major 50% federal share 50% federal share

9 Elliptical Machine - FWS Eligible Employers – cont Eligible Employers – cont –Community Service 7% of FWS allocation 7% of FWS allocation Health care, child care, education, literacy training, or social services Health care, child care, education, literacy training, or social services 75% federal share 75% federal share –No Child Left Behind Reading tutors of pre-school aged children Reading tutors of pre-school aged children 100% federal share 100% federal share

10 Elliptical Machine - FWS Non School Employers Non School Employers –Contract must be drafted, approved and signed before student begins work –Contract should clarify: Employer Employer Who will pay student Who will pay student Who will pay benefits (unemployment, workers comp, etc.) Who will pay benefits (unemployment, workers comp, etc.)

11 Elliptical Machine - FWS Conditions Conditions –Must be paid at least minimum wage Current - $6.55 Current - $6.55 July 24, $7.25 July 24, $7.25 –Cannot displace regular employees –Must be paid all hours worked –Cannot be paid for receiving classroom instruction –Must be paid at least once a month –Wages paid to student or can be paid toward student account

12 Machine Out of Order-FWS In the event of a major disaster, an eligible school located in any area affected by such major disaster Continue to make FWS payments to disaster-affected students, for the period of time (not to exceed one academic year) Continue to make FWS payments to disaster-affected students, for the period of time (not to exceed one academic year)

13 Elliptical Machine - FWS FWS Overawards FWS Overawards –$300 overaward tolerance for all campus- based programs –Tolerance is allowed only if overaward occurred after campus-based aid has been packaged.

14 Stair Climber - Perkins Perkins Eligibility Perkins Eligibility –Undergraduate or Graduate students –Exceptional financial need (as defined by school) –Entrance and Exit interviews required

15 Stair Climber - Perkins Perkins Loan Limits Perkins Loan Limits –Undergraduate $4000 annual limit $4000 annual limit $20,000 lifetime aggregate $20,000 lifetime aggregate –Graduate students $6000 annual limit $6000 annual limit $40,000 lifetime aggregate $40,000 lifetime aggregate –$8000 limit for first 2 years of academic work

16 Stair Climber - Perkins Interest Rate Interest Rate –0% in school –Fixed, simple 5% out of school 9-month grace period 9-month grace period 10 year repayment 10 year repayment Deferments, forbearance, and cancellations available Deferments, forbearance, and cancellations available

17 Stair Climber - Perkins Perkins Deferments (no interest) Perkins 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)

18 Stair Climber - Perkins Perkins Forbearance (interest accrues) Perkins 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

19 Stair Climber - Perkins Perkins Cancellation Perkins Cancellation –Teaching Low income school or high need subject matter (math, science, foreign language, special education) Low income school or high need subject matter (math, science, foreign language, special education) Head Start programs/early intervention child care Head Start programs/early intervention child care Up to 100% Up to 100% –Health care services – up to 100% –Law enforcement – up to 100% –Armed Forces/Peace Corps service 50% for armed service in hostile area 50% for armed service in hostile area 70% for Peace Corps service 70% for Peace Corps service

20 Know your Resources IFAP- Student Aid Handbook Vol. 6 Managing Campus Based Programs IFAP- Student Aid Handbook Vol. 6 Managing Campus Based Programs

21 Are You Ready to Compete? IT’S TIME FOR THE BRAIN BOWL Let’s get ready to rumble!


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