News from NASFAA
Department of Education Electronic Announcement
Hurricane Rita - Waiver with Respect to Campus-Based Aid Transfers and Matching Requirements for FWS, FSEOG, and Federal Perkins Loans (Announcement #8)
February 14, 2006
HURRICANE
RITA -- ELECTRONIC ANNOUNCEMENT # 8
From: Sally L. Stroup,
Assistant Secretary for Postsecondary Education
Theresa S.
Shaw, Chief Operating Officer, Federal Student Aid
Summary: Federal
Student Aid Programs - Waiver with Respect to Campus-Based Aid Transfers
and Matching Requirements for Federal Work Study (FWS), Federal Supplemental
Educational Opportunity Grants (FSEOG) and Federal Perkins Loans
Section 202(a) of
the Higher Education Hurricane Relief Act of 2005, included as part of
Public Law 109-148, authorizes the Secretary to waive or modify any statutory
or regulatory provision applicable to the student financial assistance
programs under Title IV of the Higher Education Act of 1965, as amended,
or any student or institutional eligibility provision in the Higher Education
Act of 1965, as the Secretary deems necessary in connection with a Gulf
hurricane disaster.
This announcement
addresses two waivers of statutory and regulatory requirements for institutions
that participate in the campus-based programs and were affected by Hurricane
Katrina or Hurricane Rita. For purposes of these waivers, any institution
located in an area designated by FEMA as eligible for individual and public
assistance under the authority of the Robert T. Stafford Disaster Relief
and Emergency Assistance Act is considered an affected institution.
Transferring Campus-Based
funds Between Programs
An affected institution
is permitted to transfer up to 100 percent of the total funds it received
under any of the campus-based programs for the 2005-06 award year to either
its FSEOG or FWS program, provided that the institution participates in
the program(s) to which funds are transferred. An institution may not
transfer FSEOG or FWS funds to its Federal Perkins Loan Program.
Non-Federal Share
or Capital Contribution
An affected institution
is not required to provide a non-Federal share or capital contribution,
as applicable, to match any campus-based funds it received for 2005-06.
Schools with questions
concerning the information provided in this announcement should contact
Harold McCullough by email at harold.mccullough@ed.gov
or by phone at (202) 377-4030.
Posted February 15, 2006 on www.NASFAA.org, the Web Site of the
National Association of Student Financial Aid Administrators (NASFAA).
Please submit Web Site questions or comments to web@NASFAA.org
