[PDF Version of Document.]
[NASFAA Note: a correction to a chart on page 33139 was published in the June 15, 2005 Federal Register]
DEPARTMENT OF EDUCATION
[CFDA Nos. 84.007, 84.032, 84.033, 84.038, 84.063, 84.069, and 84.268]
Student Assistance General Provisions, Federal Supplemental
Educational Opportunity Grant, Federal Family Education Loan, Federal
Work-Study, Federal Perkins Loan, Federal Pell Grant, Leveraging
Educational Assistance Partnership, and William D. Ford Federal Direct
Loan Programs
ACTION: Notice of deadline dates for receipt of applications, reports,
and other records for the 2005-2006 award year.
SUMMARY: The Secretary announces deadline dates for the receipt of
documents and other information from institutions and applicants for
the Federal student aid programs authorized under Title IV of the
Higher Education Act of 1965, as amended, for the 2005-2006 award year.
The Federal student aid programs include the Federal Perkins Loan,
Federal Work-Study, Federal Supplemental Educational Opportunity Grant,
Federal Family Education Loan, William D. Ford Federal Direct Loan,
Federal Pell Grant, and Leveraging Educational Assistance Partnership
programs.
These programs, administered by the U.S. Department of Education
(Department), provide financial assistance to students attending
eligible postsecondary educational institutions to help them pay their
educational costs.
Deadline and Submission Dates: See Tables A and B at the end of
this notice.
Table A--Deadline Dates for Application Processing and Receipt of
Student Aid Reports (SARs) or Institutional Student Information Records
(ISIRs) by Institutions
Table A provides deadline dates for application processing,
including corrections and submission of signatures, submission of
verification documents and, for purposes of the Federal Pell Grant
Program, receipt by institutions of SARs or ISIRs. We are using only
three deadline dates in Table A for the 2005-2006 award year. The
single date for the submission of a Free Application for Federal
Student Aid (FAFSA) is June 30, 2006, regardless of the method that the
applicant uses to submit the FAFSA. September 15, 2006 is the deadline
date for the submission and receipt of a signature page (if required),
corrections, changes of addresses or schools, or requests for a
duplicate SAR. September 22, 2006 is the deadline date for the
submission and receipt of all other documents and materials that are
specified in Table A.
Table B--Federal Pell Grant Program Submission Dates for Disbursement
Information by Institutions
Table B provides the earliest submission and deadline dates for
institutions to submit Federal Pell Grant disbursement records to the
Department's Common Origination and Disbursement (COD) System.
In general, an institution must submit Federal Pell Grant
disbursement records no later than 30 days after making a Federal Pell
Grant disbursement or becoming aware of the need to adjust a student's
previously reported Federal Pell Grant disbursement. In accordance with
the regulations in 34 CFR 668.164, we consider that Federal Pell Grant
funds are disbursed on the earlier of the date that the institution:
(a) Credits those funds to a student's account in the institution's
general ledger or any subledger of the general ledger, or (b) pays
those funds to a student directly. We consider that Federal Pell Grant
funds are disbursed even if an institution uses its own funds in
advance of receiving program funds from the Department. An
institution's failure to submit disbursement records within the
required 30-day timeframe may result in an audit or program review
finding. In addition, the Secretary may initiate an adverse action,
such as a fine or other penalty for such failure.
[NASFAA NOTE: You will need to access the PDF version of the Notice in order to view the tables that make up the remainder of this Notice due to their size and formatting.
Posted June 7, 2005 on www.NASFAA.org, Web Site of the
National Association of Student Financial Aid Administrators
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