The FISAP Its Quick Its Easy ITS THE LAW

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The FISAP-Its Quick(?) Its Easy(?) ITS THE
LAW!

• David R. Gelinas
• Director of Financial Aid
• Sewanee The University of the South
• 1993-94 SASFAA President
• 2005-06 NASFAA National Chair

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What is the FISAP?

• It is a two-part document that is filed by
  schools participating in the federal campus-based
  (FWS, FSEOG, and Perkins) aid programs
• The FIS is your Fiscal Operations Report for
  the last completed award year
• The AP is your Application to Participate in
  the campus-based aid programs for the upcoming
  award year

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Why Do I File a FISAP?

• To apply for campus-based funds
• The law states that if the U.S. Department of
  Educationdoes not receive a completed
  application by October 1 each year, you cannot be
  assured your school will be allocated funds for
  any of the campus-based programs.

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Why Do I File a FISAP? (cont.)

• To report on the campus-based funds you awarded
• Federal regulations state that if you spent
  campus-based program funds in the last completed
  award year or have a Federal Perkins Loan Fund,
  you must submit a Fiscal Operations Report.

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The Contents of the FISAP

• The FISAP consists of 6 parts
• I Identifying Information, Certification and
  Warning Instructions
• II Application to Participate
• III Federal Perkins Loan Program Fiscal
  Operations Report
• IV Federal Supplemental Educational Opportunity
  Grant (FSEOG) Program Fiscal Operations Report
• V Federal Work-Study (FWS) Program Fiscal
  Operations Report
• VI Program Summary for Award Year July 1, 20XX
  through June 30, 20XX (currently 7/1/06-6/30/07)

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Part I

• Part I consists of two sections
• Section A, Identifying Information
• Point of Emphasis (POE) 7, Name and address of
  private financial aid consultant firm, if any
• Section B, Certification and Warning
• 3 POEs
• (b) need to disclose any lobbying performed by
  the institution
• 8, Chief Executive Officers signature
• Address for mailing the completed Part I

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Part II

• Part II consists of 6 sections
• A Request for Funds
• POE Youll never receive more funds than you
  request, so request optimistically
• B Federal Perkins Loan Program Liquidation
  Request
• POE Only applies to certain schools
• C Waiver Request for the Underuse of Funds
• POE Only if youve returned more than 10 of
  your campus-based funds from the previous year
• Must explain why in writing

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Part II (cont.)

• Section D Information on Enrollment
• POE Data from other office (most likely)
• E Assessments and Expenditures
• POE 22, (a) and (b) Data from other office
  (most likely)
• F Information on Eligible Aid Applicants
  Enrolled in Your School for Award Year 20XX-20XX
• POE Source of data for income grid

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Part III

• Part III consists of 5 sections
• A Fiscal Report (Cumulative) as of June 30, 20XX
• POE Column (a), 1.2 This figure must be edited
  in AFTER October 31 of that year
• 44, columns (c) and (d) must be equal
• B Fund Activity (Annual) During the 20XX-20XX
  Award Year
• POE 1(b) None of us were authorized any FCC
• 5 Cannot exceed authorized level of expenditure
  from your final funding authorization letter

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Part III (cont.)

• Section C Cumulative Repayment Information as of
  June 30, 20XX
• D Schools with 30 or more borrowers Who Entered
  Repayment in the 20XX-20XX Award Year
• E Schools with Fewer than 30 Borrowers Who
  Entered Repayment in the 20XX-20XX Award Year
• POE You only complete D or E

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Part IV

• Part IV consists of 5 sections
• A Federal Funds Authorized for FSEOG
• POE 1 Comes from your final funding
  authorization letter
• B Federal Funds Available for FSEOG Expenditures
• POE 2-9 Reporting of transfers and
  carryforwards/carrybacks
• C Funds to FSEOG Recipients
• POE 12 Can ONLY report 25 of 11

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Part IV (cont.)

• Section D Federal Funds Spent for FSEOG Program
• POE 13 MUST be 75 of 11
• E Use of FSEOG Authorization

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Part V

• Part V consists of 9 sections
• A Federal Funds Authorized for FWS
• POE 1 Comes from your final funding
  authorization letter
• B Federal Funds Available for FWS Expenditures
• POE 2-9 Reporting of transfers and
  carryforwards/carrybacks
• C Total Compensation for FWS
• POE 11(a)-(d) Where the compensation was
  earned
• POE 12 Must have met the institutional
  matching requirement, based on categories in
  Section D

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Part V (cont.)

• Section D Funds Spent from Federal Share of FWS
• POE 13(a)-(d) Different types of jobs have
  different federal share rates
• E Use of FWS Authorization
• F Information About the Job Location and
  Development (JLD) Program

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Part V (cont.)

• Section G Information About FWS Students
  Employed in Community Service Activities
• POE You MUST use at least 7 of your FWS
  allocation to employ students in these jobs
• H Information About FWS Students Employed as
  Reading Tutors of Children or Employed in Family
  Literacy Activities
• POE Must have at least one FWS employee
• I Information About FWS Students Employed as
  Mathematics Tutors of Children
• POE Must have at least one FWS employee

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Part VI

• Part VI consists of 2 sections
• Section A Distribution of Program Recipients and
  Expenditures by Type of Student
• Section B Calculating the Administrative Cost
  Allowance

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Part VI, Section A

• Five main Points of Emphasis
• 1-15 and 17-18, Column (g) This is the
  UNDUPLICATED count of the recipients on each line
• 16, Columns (a), (c), (e) and (g) These are the
  totals of 1-15
• 16, Column (b) This total must match the total
  reported in Part III, Section B, 5
• 16, Column (d) This total must match the total
  reported in Part IV, Section C, 11
• 16, Column (f) This total must match the total
  reported in Part V, Section C, 11

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Part VI, Section B

• Step 1
• 1 comes from Part V, Section C, 11
• 2 comes from Part III, Section B, 5
• 3 comes from Part IV, Section C, 11
• Step 2
• Your allowance calculation is based on how much
  campus-based aid you spent
• 3 levels of expenditure

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Part VI, Section B (cont.)

• Step 3
• 22 Your school can claim LESS allowance than is
  calculated/authorized
• 23 (a) Must match Part III, Section B, 6
• 23 (b) Must match Part IV, Section D, 14
• 23 (c) Must match Part V, Section D, 14

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Submitting the Completed FISAP

• The FISAP is submitted electronically, except
• Part I must also be printed out and mailed to the
  specified address
• Both electronic submission and Part I mailing
  MUST occur by the specified deadline

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Electronic Submission

• From the FISAP Instructions
• You must go online to the Departments FISAP on
  the Web site http//cbfisap.ed.gov. At that
  site, you can also receive communicationsand
  submit corrections.
• To submit your FISAP on the Web, you must have a
  User ID and password.

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Mailing Part I

• An address will be specified in Part I, Section B
• This address can and will change from year to
  year
• Best practice Mail Part I by certified mail,
  return receipt requested

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References

• From IFAP (Information for Financial Aid
  Professionals)
• (www.ifap.ed.gov/IFAPWebApp/index.jsp)
• Tools for Schools
• FISAP Web Based Training
• Letters Bulletins
• Campus-Based
• CB-07-12 (JUL)