Posted Date: November 13, 2017
|Author:||Federal Student Aid|
Subject: Federal Perkins Loan Program Cash on Hand Update due December 15, 2017
As published in the Federal Register Notice on January 4, 2017 (82 FR 828), Subject: 2017–2018 Award Year Deadline Dates for Campus-Based Programs, all schools that participate in the Federal Perkins Loan (Perkins Loan) Program must update and submit Part III, section A, Line 1.2 (Cash on hand and in depository as of 10/31/2017) on the Fiscal Operations Report for 2016–17 (FISAP) to the Department of Education (the Department) by midnight Eastern time (ET) on Friday, December 15, 2017. This announcement is a reminder of the deadline and process for this action.
Important: It is critical that schools meet this deadline to ensure that all FISAP data is correctly reflected in the system before the Campus-Based system transition begins in early 2018. Change requests for corrections after December 15, 2017 will be limited to exceptional issues.
Reporting Perkins Cash on Hand
Schools with a Federal Perkins Loan Revolving Fund must update Part III, Section A, Line 1.2 (Cash on hand and in depository as of 10/31/2017) to the amount that was on hand as of October 31, 2017. Instructions for completing this item are on page III–3 of the FISAP Instructions.
Other Important Notes
Remember to submit the updated FISAP – Simply validating and/or saving the new data entry does not result in submission to the Department. After updating and validating Line 1.2, it is imperative that schools complete the process by using the “Submit” button.
Verify that changes/corrections have been received by the Department – Schools should log in to the eCampus-Based (eCB) website, select the “Self-Service” link in the top navigation bar and scroll to the “Acknowledgements” section. Then, select “Submission Log” to view the log and verify submission of the update.
Signature not required for FISAP changes – Schools are not required to re-send signature pages or perform eSignature functions when changes are made to a previously submitted FISAP.
For additional information about Perkins Loan Cash on Hand updates, contact the Campus-Based Call Center at 1-877-801-7168. Customer service representatives are available Monday through Friday from 8 a.m. until 8 p.m. ET. You may also email CBFOB@ed.gov.
Publication Date: 11/13/2017