Pop Quiz - Can a School Carry Forward Federal Work-Study, Then Transfer the Funds?
Scenario:
A school wants to carry forward 10% of its Federal Work-Study funds. Can the school then include the funds it carried forward in the 25% it transfers to Federal Supplemental Educational Opportunity Grant (FSEOG)?
Answer:
No. Schools may carry for 10% of its initial or supplemental allocation of campus-based funds. When a school does this, the funds it carries forward must be spent first. Regarding the transfer of funds from one campus-based program to another, Volume 6 of the FSA Handbook also states, “"A school may not transfer funds carried forward or back from one Campus-Based program to a different Campus-Based program."
Publication Date: 8/21/2023
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