ED Posts FISAP Clarification for Reporting Certain Perkins Loan Borrowers
By David L. Futrell, NASFAA AskRegs Manager
On Sept. 14, 2018, the U.S. Department of Education (ED) posted a 2019–20 Fiscal Operations Report and Application to Participate (FISAP) clarification for how to report a Federal Perkins Loan borrower who began the 2017–18 academic year as an undergraduate student and ended the academic year as a graduate student. ED updated pages VI-1 to VI-3 of the FISAP instructions to include the clarification to Part VI, Section A—Distribution of Program Recipients and Expenditures by Type of Student.
Per ED:
“A student who received Federal Perkins Loan funds as an undergraduate in the beginning of the 2017–2018 academic year, but then ended the 2017–2018 academic year as a graduate student should be reported in the appropriate undergraduate income category for Federal Perkins Loans (and FSEOG if applicable). If this student did not receive FWS funds, report the student as an undergraduate in the unduplicated recipients column (g). FWS funds would be reported in the graduate category for this student. If this student received FWS funds, report the student as a graduate in the unduplicated recipients column (g).”
Reference the July 13, 2018 Electronic Announcement, “Final FISAP Form, Instructions, and Desk Reference for FISAP due by October 1, 2018 (Updated September 14, 2018)” If you have questions, contact the Common Origination and Disbursement (COD) School Relations Center directly at 800-848-0978 or via email [email protected].
ED notified the community of this clarification via the IFAP Subscription Service.
Publication Date: 9/18/2018
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