Campus Based Aid
What is it?
Campus-based aid is different from other aid programs in that the institution is responsible for administering the program. Each participating college gets a set allocation of funds for these programs per year, and once those funds are expended, it’s gone. Each institution determines its own awarding procedures, within federal guidelines.
There are currently two active Campus Based programs – the Federal Supplemental Educational Opportunity Grant (FSEOG), and the Federal Work Study (FWS) Program. A third campus-based program, Federal Perkins Loans, is no longer a funded program.
FSEOG is a grant program for undergraduate students with extreme need. FWS is available to both undergrads and graduate students and is not need based. Students receiving FWS can work hourly jobs to earn Title IV aid for school expenses. Both programs require an institutional match from the school, so the awards given to students are generally paid with a combination of federal and institutional funds, unless the school has a waiver of the match requirement. FWS also has some additional community service requirements. Institutions must expend at least seven percent of their FWS allocation on community service jobs, and employ at least one student as a reading tutor of young children or worker in a family literacy program.
Who is eligible?
First, the institution must be eligible and approved by the Department of Education to participate in those specific aid types. Once approved, then the institution must submit an annual Fiscal Operations Report and Application to Participate (FISAP). The FISAP services two purposes. It is uses as the application for the upcoming award year, and it is also how institutions report the prior award year expenditures. The FISAP generally is available from August through September each year.
How can your servicer help?
Weber & Associates, Inc. helps our clients in many ways with campus-based aid. Weber assists with awarding and disbursing of FWS and SEOG throughout the award year. Weber and Associates can also track your campus-based expenditures and submit the annual FISAP report for your institution. The FISAP is a lengthy report and can be a bit intimidating for an institution to tackle on its own, but Weber’s system is set up to make the process much easier. If your institution is not currently participating in campus-based aid but would be interested in applying for FSEOG and/or FWS for the 2019-20 award year, please contact our customer service department via the support site so we can be prepared to assist you in the process. Weber & Associates will be sending information to our current campus-based participants within the next couple of weeks to start preparing for this year’s FISAP.