The Leaves on Your Campus 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 Loan 34 CFR § 674

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

Loan Limits Undergraduate Graduate $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% Employment – 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 15% for 1st and 2nd years 20% for 3rd and 4th years 30% for 5th year

Cancellation Armed Forces Peace Corps service 50% in hostile area before August 14, 2008 100% in hostile area after August 13, 2008 Peace Corps service 70% for Peace Corps service 12.5% per year for 50% 15%, 20%, 30% for 100% 15% for years 1 & 2; 20% for years 3 & 4

Discharge Death Total and permanent disability Survivors of September 11, 2011 attacks 12.5% per year for 50% 15%, 20%, 30% for 100% 15% for years 1 & 2; 20% for years 3 & 4

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