Posted Date: July 5, 2017
|Author:||John Kane, Acting Service Director, Program Management, Federal Student Aid|
Subject: Incorrect 2017-2018 Funding Authorizations for the Campus-Based Programs
On June 2, 2017, we announced that final 2017-2018 Campus-Based programs funding worksheets and the 2017-2018 Statement of Account for each of the Campus-Based programs were posted to the eCampus-Based (eCB) website.
We recently discovered an error in the underlying calculations for the Federal Work-Study (FWS) and Federal Supplemental Educational Opportunity Grant (FSEOG) tentative and final awards for some schools. As a result, FWS and FSEOG awards will be recalculated for all schools. In most cases, this recalculation will have little or no impact on final award levels. The average change will be less than $3,500 for FSEOG and less than $2,500 for FWS.
To complete the recalculation and reallocation of awards, we will put a temporary hold on FWS and FSEOG drawdowns in G5 beginning at 3:00 P.M. (ET) on July 5, 2017, to minimize the impact on drawdowns, financial reporting, and reconciliations. The hold is expected to last no longer than 7 business days.
Note: Pell Grant and Direct Loan funds are not impacted by this temporary G5 hold.
We apologize for any confusion and inconvenience this issue may cause. We will correct the issue as soon as possible and will post a subsequent Electronic Announcement to inform schools when recalculated awards are available and G5 drawdown access is restored.
For additional information about 2017-2018 Campus-Based allocations, contact the Campus-Based Call Center at 877/801-7168. Customer service representatives are available Monday through Friday from 8:00 A.M. until 8:00 P.M. (ET). You may also email CBFOB@ed.gov.
Publication Date: 7/5/2017