Pell & Campus-Based Programs

FEDERAL PELL GRANT

Pell Grant Undergraduate, prior to earning first Bachelors/Professional degree (includes foreign degrees) Post-baccalaureate program the program does not lead to a graduate degree; the school offering the program does not also offer a bachelor’s degree in education; the student is pursuing an initial teacher certification or licensing credential within a state; and consists of the courses required by a state to receive a professional certification or licensing credential necessary for employment as a teacher in an elementary or secondary school in that state Amount of Pell is linked to EFC, enrollment, and school’s COA See chart Student may be eligible for payment at any enrollment status

Pell LEU Pell Lifetime Eligibility Unit Students limited to 600% in lifetime Pell award 100% = two full semesters at full-time enrollment Pell LEU is tracked in COD Person Search – click on Pell link

Pell LEU Students who have received over 500% in lifetime eligibility at the end of the 1314 award year will have reduced eligibility for the 1415 award year ISIR contains comment code regarding Pell LEU 346 – student is close to lifetime eligibility (over 500%) 347 – student has reached lifetime eligibility (600%) or is over Other comment codes related to PELL LEU exist for students who are under 500% and are displayed on SAR for student

Pell Grant An initial calculation is the first calculation of a student’s Federal Pell Grant award. The institution must use the current, documented enrollment status (may be a projected status). If no date documented, the date of initial calculation is the later of: Processed date of the initial SAR or ISIR, or Date the student enrolls

Pell Grant Earliest possible date is date of receipt of an EFC from an ED product (assuming Pell Payment Schedule has been issued), such as: SAR or ISIR with an official EFC (processing date) FAA Access EFC FAFSA on the Web EFC School may choose a later date such as completion of verification

Pell Grant Pell can be recalculated when: Enrollment status changes between terms Student never begins attendance in one or more classes Lump sum payment according to work completed in prior payment periods Must use final enrollment status of prior terms with no disbursements If final enrollment status for the term is different from initial calculation, must recalculate Include in enrollment status only courses completed (includes earned F’s and incompletes) Cannot include drops or withdrawals in enrollment status

Pell Grant-Institutional Options Recalculations for changes in enrollment status Recalculates for all changes in enrollment status during the term Does not recalculate for changes in enrollment status at any time in a term after initial calculation (assumes student has begun all classes) Does not recalculate after a Pell recalculation date

Pell Grant-Institutional Options May have a Pell recalculation date For term By course A student’s ultimate Pell recalculation date for the term is the Pell recalculation date of the last course the student attends or is expected to attend If a student drops, withdraws from, or adds a class before Pell recalculation date, must recalculate based on any change in enrollment status through that Pell recalculation date

CAMPUS-BASED PROGRAMS

Campus-Based Programs The campus-based programs: Federal Supplemental Educational Opportunity Grant Program (FSEOG) Federal Work-Study Program (FWS) Federal Perkins Loan Program

School Participation in Campus-Based Programs Must be approved to participate Annually must complete Fiscal Operations Report and Application to Participate (FISAP) to: Apply for funds for next award year Report previous award year expenditures

Campus-Based Programs Common Provisions Matching requirement Transfer of funds between programs Carry-forward and carry-back options Use of funds for independent students and part-time students Administrative Cost Allowance (ACA) Underutilization of funds

FSEOG Program Program-specific requirements: Student eligibility Minimum and maximum award amounts Selection groups criteria

FWS Program Program-specific requirements: Student eligibility Award amounts Use of funds Eligible employment Payments to students Community service

Federal Work-Study Program If school does not meet community service expenditure requirements, it must return FWS funds to ED Amount returned is difference between what school should have spent and amount actually spent for community service

Federal Work-Study Program Community service positions: Services designed to improve the quality of life for community residents, particularly low-income individuals, or to solve particular problems related to their needs Except for support services offered by the school to its students with disabilities, all on-campus positions must be for services that are open and accessible to the community

Federal Perkins Loan Program To receive a Federal Perkins Loan, student must demonstrate a willingness to repay the loan Delinquency or default on a previous student loan indicates student is unwilling to repay new loan

Federal Perkins Loan Program School must use either paper Federal Perkins Loan Master Promissory Note (Perkins MPN) or electronic version of the note (eMPN) Student may choose to use the MPN as either a single or multiple award year note, if school offers multiple year MPN

Federal Perkins Loan Program School must provide certain loan information called pre- disbursement disclosures before making the first disbursement of a loan for an award year Exit counseling is required before a borrower ceases at least half-time attendance

Federal Perkins Loan Program Loan repayment benefits: Deferment Forbearance Cancellation Discharge Failure to repay can result in default A borrower may rehabilitate a defaulted loan only once

Perkins Need-based loan Federal Loan, Institution acts as Lender and Servicer Interest Rate: 5% Grace period: 9 months Maximum repayment term: 10 years Undergraduate and Graduate students are eligible

Perkins Loan Limits Undergraduate annual limit $5,500 Undergraduate Aggregate limit $27,500 Graduate annual limit $8,000 Graduate Aggregate limit $60,000

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