Campus Based Aid

The Leaves on Your Campus

Spinning Plates

Agenda

• Federal Supplemental Education Opportunity Grant (FSEOG)

• Federal College Work-Study (FWS)

• Federal Perkins Loan

• FISAP

Matching Requirements & ACA

• Matching requirements (75/25): waived for Title III institutions

General Requirements

• Enrollment

• Need

Federal Supplemental Educational Opportunity

Grant (FSEOG)

34 CFR § 676

Student Eligibility

• Eligible for other federal programs (34 CFR §

676.9(a))

• Undergraduate only (34 CFR § 676.9(b))

• Reasonable portions to part-time and independent students (34 CFR § 676.10(b))

• Exceptional need (34 CFR § 676.10(a))

– Award in EFC order (start with $0)

Awards

• $100 annual minimum (34 CFR § 676.20(a)(1))

• $4,000 annual maximum (34 CFR § 676.20(a)(2))

• $4,400 annual maximum for approved student abroad programs (34 CFR § 676.20(c))

• Student enrolled less than full-time may have award reduced (34 CFR § 676.20(b))

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 (34 CFR §

675.9(a))

• Undergraduate or Graduate (34 CFR § 675.9(b))

• Reasonable portions to part-time and independent students (34 CFR § 675.10(c))

• Financial need (34 CFR § 675.9(c))

Payments to Students

• Must be paid at least minimum wage (34 CFR

§ 675.24(b))

• Must be paid at least monthly (34 CFR §

675.16(a)(2))

• Wages can be paid to student or toward student account (34 CFR § 675.16)

• Cannot be paid for receiving classroom instruction (34 CFR § 675.20(d)(2)(ii))

Eligible Employers34 CFR § 675.20(a)

• Institution– Some exclusions for proprietary institutions (34 CFR §

675.21(b))

• Government, non-profit or private, for-profit– Must have agreement between institution and

organization (34 CFR § 675.20(b)(1))

Community Service

• 7% of FWS allocation (34 CFR § 675.18(g)(1))

• Must have at least one student employed as:

– Reading tutor project (34 CFR § 675.18(g)(1)(i))

OR

– Family literacy project (34 CFR § 675.18(g)(1)(ii))

Conditions

• May not (34 CFR § 675.20(c)(2))

– 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

• Summer

• 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 (34 CFR § 675.26(a)(1))

• Private, for-profit agency – 50% federal share (34 CFR § 675.26(a)(3))

– Max of 25% of FWS allocation per year (34 CFR §

675.23(a))

– Must be related to major (34 CFR § 675.23(b)(1))

Federal Perkins Loan

34 CFR § 674

Perkins Loan

• Eligibility

– Undergraduate or Graduate students

– Exceptional financial need (as defined by school)

– MPN, Entrance and Exit Counseling required

Perkins Loan

• Loan Limits

– Undergraduate

• $4,000 annual limit

• $20,000 lifetime aggregate

– Graduate

• $6,000 annual limit

• $40,000 lifetime aggregate

– $8,000 limit for first 2 years of academic work

Perkins Loan

• Interest Rate – 5% fixed

• 9 month grace period

• 10 year repayment

• Deferments, forbearance and cancellations available

Perkins Loan

• 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)

Perkins Loan

• 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

Perkins Loan

• Perkins Cancellation– Teaching

• Low income school or high need subject matter (math, science, foreign language, special education)

• Head Start programs/early intervention child care

• 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

• 70% for Peace Corps service

Resources

• IFAP- Student Aid Handbook Vol. 3 Chapter 7 Awarding Campus-Based Aid

• Dear Colleague Letters

– GEN-11-02

Title III

• http://www2.ed.gov/programs/iduestitle3a/eligibility.html

Transfer Funds

Carry Forward/Back

Questions

Rick Taphorn

Director of Financial Services

Missouri Baptist University

314-744-7639

taphorn@mobap.edu