Pop Quiz – Can Unspent 2020-21 Federal Work-Study (FWS) Funds be Carried Forward for Use During the 2021-22 Award Year?
Scenario:
A school has leftover Federal Work-Study (FWS) funds from the 2020-21 award year. Can the school carry these funds forward to be used during the 2021-22 award year? Is there a dollar amount or percentage limit on that carry forward?
Answer:
Yes, a school may carry forward up to 10% of its total (initial and supplemental) FWS current award year allocation to be spent in the next award year. Funds carried forward must be spent before spending current award year funds. The school must match FWS funds carried forward in the award year the funds are spent.
Reminder: the allowance to transfer up to 100 percent of a school’s unexpended FWS allocation into its FSEOG funds continues for the 2021-22 award year through the end of the payment period in which the COVID-19 qualifying emergency ends, which may be before the end of the award year. When the qualifying emergency ends, it will be updated in NASFAA’s Today’s News.
Publication Date: 7/19/2021
Comments Disclaimer: NASFAA welcomes and encourages readers to comment and engage in respectful conversation about the content posted here. We value thoughtful, polite, and concise comments that reflect a variety of views. Comments are not moderated by NASFAA but are reviewed periodically by staff. Users should not expect real-time responses from NASFAA. To learn more, please view NASFAA’s complete Comments Policy.
Related Content
What Transaction Number Is Used When Reporting Federal Work-Study Earnings To COD?
What Do We Report When We Had No FWS Earnings During the Calendar Year?
Can a School Switch Methods For Reporting FWS Earnings?
What Is the Deadline For Reporting 2022 FWS Earnings To COD For the 2024-25 Award Year?
Does Enrollment Intensity Apply To the Other Title IV Programs Beyond Pell?
Are We Required To Use "Federal" In the Names Of the Title IV Aid Programs?
What Should Schools Use To Report FWS Earnings In COD When Payment Periods Cross a Calendar Year?
Best Practices in Federal Work-Study
Part 674: Federal Perkins Loan Program
Call to Action: Tell Congress to Protect Student Aid Funding
Are Students Enrolled In a Prison Education Program Eligible For Title IV Aid Other Than Pell?
Campus-Based Programs: 2023-24
Part 675: Federal Work-Study Program
Legislative Tracker: Campus-Based Programs
Legislative Tracker Archive: Campus-Based Programs
Can an Outside Organization Reimburse Our School For Federal Work-Study Wages?
Are Students Incarcerated In Juvenile Justice Facilities Eligible For Title IV Aid?
Can FWS Funds Be Used To Pay a Student's Travel Expenses Like Gas and Mileage?
Are Schools Required To Report Federal Work-Study Earnings To COD?
Examining Federal Work-Study Task Force Charter
NASFAA Report Highlights Student, Institutional Experiences With COVID-19 Pandemic Funds
Do We Package Gross Or Net Federal Work-Study Amounts?
As Inflation Rises, Institutions Create More Resources to Help Students and Employees
Part 673: Campus-Based Common Provisions
Are Incarcerated Students Eligible For FWS Or FSEOG?
Free Tuition Programs for Indigenous Students Pick Up Steam Across the Country
Student Aid Reference Sheet - 2022-23
Is a Medical School Clinical Rotation Position an Eligible Federal Work-Study Job?
Can We Use Federal Work-Study Funds To Pay the Employer's Share of FICA Taxes?
Financial Aid Offices Detail HEERF Annual Reporting Undertaking
Can We Swap Institutional Funds With FSEOG at the End Of the Award Year?
Must We Post Federal Work-Study Positions Publicly Or On a Website?
Does the First-Come, First-Served Prohibition Still Apply When Awarding FSEOG?
NASFAA Signs Onto Amicus Brief Refuting Allegations That Colleges Profited From the Pandemic
ED Announces Over $3 Billion in Additional HEERF Money for Under-Resourced Institutions
White House Urges Congress to Approve ED Spending Levels for Fiscal Year 2022
Free College Sounds Good, But Is It the Best Idea? New Report Highlights Alternatives
Is the Institutional Share Of FWS and FSEOG Waived For the 2021-22 Award Year and Beyond?
Advertisement
You must be logged in to comment on this page.