# Presentation: 788760

## Session  9

- Fiscal Operations Report and Application to Participate (FISAP) Form Changes
**Dorothy Dorsey**
**Mary Miller**
**Dan Madzelan**

## What we will discuss –

- Brief Overview of the FISAP Form
- Upcoming Changes in 2007
- Potential Changes in 2008 and Beyond

## Brief Overview of the FISAP Form

- Schools must submit a FISAP to apply for and receive Title IV Campus-Based aid.
- The FISAP is used to determine the funding levels for the Federal Perkins Loan, Federal Supplemental Education Opportunity Grants, and Federal Work Study programs.
- Important dates will be posted in the Federal Register in March 2007.

## Brief Overview of the FISAP Form, cont’d.

- The FISAP is divided into three main sections –
- Part I - Identifying Information, Certifications, and Warnings
- Part II - Application to Participate
- Parts III, IV, V, and VI - Fiscal Operations Report.

## Upcoming Changes in 2007

- Changes to the certifications and disclosures due to changes in Education Department General Administrative Regulations.
- Minor changes to the Lobbying Certification.
- Debarment, Suspension, and Other Responsibility Matters (Part 85) has been removed.
- Drug-Free Workplace (Part 84) has been removed.

## Upcoming Changes in 2007, cont’d.

**We will add two lines to Part II, Section E, after Line 23 due to the new programs added with the implementation of the Higher Education Reform Act –**
**	**** ****-  23. Title IV, Part A, Subpart 1, Grants**
**a. – Total Federal Pell Grant expenditures for the 2006-2007 award year**
**b. – Total ACG expenditures for the 2006-2007 award year**
**c. – Total National SMART Grant expenditures for the 2006-2007 award year**

## Current View

## New View

## Upcoming Changes in 2007, cont’d.

- We will add four lines to Part III, Section A.
- Line 17 –
- Loan principal canceled for loans discharged for survivors of victims of 9-11 terrorist attacks
- Line 38 –
- Cost of loan principal and interest canceled for survivors of victims of 9-11 terrorist attacks.

## Upcoming Changes in 2007, cont’d.

- Line 42 –
- Balancing Adjustments Debits
- Line 43 –
-  Balancing Adjustments Credit

## Current View

## New View

## New View

## FISAP Changes – 2008 and Beyond

- Part III, Section A  - Fiscal Report (Cumulative) as of June 30, 20XX
- Collecting Data by fiscal year for existing line items

## Part III, Section A

- Pre-populate prior year reported cumulative data
- System will calculate annual data by subtracting pre-populated prior year cumulate data from the institution’s current year reported cumulative data

## Collecting Data by Fiscal Year for Existing Line Items

- Purpose –
- Bring Perkins Loan data inline with FFEL and Direct Loan data
- Collect data on a Fiscal Year basis
- Collect “loan level” data

## Collecting Data by Fiscal Year for Existing Line Items, cont’d

- Part III, Section A
- By Cancellation Category
- Number of Borrowers
- Cost of loan principal and interest cancelled

- Part III. Federal Perkins Loan Program for Award Year July 1, 2006 through June 30, 2007
*Section A. Fiscal Report (Cumulative) as of June 30, 2007*
**	****	****Field Item****	****	**** Amount****	****Number of Borrowers       Debit Balances         Credit Balances**
**	****	****	****     ****	****    ** (a)**	****  (b)****	****         (c)****	**** (d)**
**1.1.****	****Cash on hand and in depository as of 6/30/2007****	****	****	**** $**__________
**1.2.****	****Cash on hand and in depository as of 10/31/2007****	****    $**_______
**2.****	****Funds receivable from federal government****	****	****	**** $**__________
**3.****	****Funds receivable from school****	****	****	****	**** $**__________
**4.****	****Funds advanced to students****	****	****	**_________________**	**** $**__________
**5.****	****Loan principal collected****	****	****	**_________________**	****	****$**__________
**6.****	****Loan principal assigned to and accepted by the United **
**	****States****	****	****	****	**_________________**	****	****$**__________
**	**_**Loan principal canceled**_**:**
**7.****	****-for teaching/military service (applies to loans made prior to **
**	****07/01/1972)****	****	****	****	**_________________**	****	****$**__________
**8.****	****-for certain subject matter teaching service (math,**
**	****	****science, foreign languages, bilingual education)****	****	**_________________**	****	****$**__________
**9.****	****-for all other authorized teaching service****	****	****	**_________________**	****	****$**__________
**10.****	****-for military service (applies to loans made 07/01/1972 and after)****	****	**_________________                                      	**$**__________
**11.****	****-for volunteer service****	****	****	**_________________**	****	****$**__________
**12.****	****-for law enforcement and corrections officer service****	****	**_________________**	****	****$**__________
**13.****	****-for child/family/early intervention service****	****	**_________________**	****	****$**__________
**14.****	****-for nurse/medical technician service****	****	****	**_________________**	****	****$**__________
**15.****	****-for death/disability****	****	****	**_________________**	****	****$**__________
**16.****	****-for bankruptcy****	****	****	****	**_________________**	****	****$**__________
**17.****	****-for survivors of victims of 9-11 terrorist attacks****	****                          ****	**_________________**	****	****$**__________
**18.****	****-for loans discharged due to closed schools****	****	**_________________**	****	****$**__________
**19.****	****Loan principal adjustments – other****	****	****	**_________________**	****	****$**__________
**20.****	****Federal Capital Contributions****	****	****	****	****	****$**__________
**21.****	****Repayments of fund capital to federal government****	****	****	****$**__________
**22.****	****Institutional Capital Contributions****	****	****	****	****	****$**__________
**23.****	****Repayments of fund capital to school****	****	****	****	****$**__________

- Part III. Federal Perkins Loan Program for Award Year July 1, 2006 through June 30, 2007
*Section A. Fiscal Report (Cumulative) as of June 30, 2007*
**	****	****Field Item****	****	**** Amount****	****Number of Borrowers       Debit Balances         Credit Balances**
**	****	****	****     ****	****    ** (a)**	****  (b)****	****         (c)****	**** (d)**
**24.****	****Interest income on loans****	****	****	****	****	****$**__________
**25.****	****Other income****	****	****	****	****	****$**__________
**26.****	****Reimbursements to the Fund of the amounts canceled **
**	****on loans made 07/01/1972 and after****	****	****	****	****	****$**__________
**27.1. Administrative cost allowance****	****	****$**________
**27.2. Collection costs****	****	****    ****	****$**________
**27.3. Administrative cost allowance and collection costs (control)****	****	****	****$**__________**  ****	****	**
**	**_**Cost of loan principal and interest canceled**_**:**
**28.****	****-for teaching/military service (applies to loans made prior to**
**	****             ****07/01/1972)****	****	****	****	****$**__________
**29         -for certain subject matter teaching service (math, science,**
**                     ****foreign languages, bilingual education)****	****	****	****$**__________
**30.****	****-for all other authorized teaching service (applies to loans made**
**	****            ****07/01/1972 and after)****	****	****	****	****$**__________
**31.****	****-for military service (applies to loans made 07/01/1972 and after)****	****	****$**__________
**32.****	****-for volunteer service in the Peace Corps or under the**
**	****            ****Domestic Volunteer Service Act of 1973****	****	****	****$**__________
**33.****	****-for law enforcement and corrections officer service****	****	****	****$**__________
**34.****	****-for child/family/early intervention service****	****	****	****$**__________
**35.****	****-for nurse/medical technician service****	****	****	****$**__________
**36.****	****-because of death/disability****	****	****	****	****$**__________
**37.****	****-because of bankruptcy****	****	****	****	****$**__________
**38.****	****-for survivors of victims of 9-11 terrorist attacks****	****	****	****$**__________
**39.****	****Cost of loan principal and interest assigned to and accepted**
**	****     ****by the United States****	****	****	****	****$**__________
- 40.	**Cost of loan principal and interest canceled for loans                                                                                                            **
**	****discharged due to closed schools****	****	****	****	****$**_________
**41.****	****Other costs or losses            ****	****	****	****	****$**__________
**42.****	****Balancing Adjustments (Debits)                                                                                                                            ****	****$**__________
**43.****	****Balancing Adjustments (Credits)       ****	****	****	****	****$**__________
**44.****	****Total debits and credits (Sum of fields 1.1 through 43****	****                               ****	****	****$**__________**	****$**__________

## Collecting Data by Fiscal Year for Existing Line Items, cont’d

- Part III, Section B, Lines 7 through 9

- Part III. Federal Perkins Loan Program for Award Year July 1, 2006 through June 30, 2007
*Section B. Fund Activity (Annual) During the 2006-2007 Award Year (July 1, 2006 through June 30, 2007)*
**	****	****	****	****	****	****	****Number of Borrowers ****	**** Amount**
**	****	****	****	****	****	****	**** ****	****(a)****	****         (b)**
**7. Total principal and interest repaid by borrowers from all sources during **
**       ****the 2006-2007 award year****	****	****	****	****	**_________________**	****$**__________
**8. Total principal repaid by borrowers from all sources during the 2006-2007 award****	**
**	****year for loans in default for more than 2 years but not more than 5 years****	**_________________**	****$**__________
**9. Total principal repaid by borrowers from all sources during the 2006-2007 award**
**	****year for loans in default for more than 5 years   ****	****	****	**_________________**	****$**__________
_** **_

## Collecting Data by Fiscal Year for Existing Line Items, cont’d

- Part III, Section D – Schools with 30 or More Borrowers Who Entered Repayment
- Part III, Section E – Schools with Fewer than 30 Borrowers Who Entered Repayment

**Cohort Default Rate (Sections D and E)****	**
**My school had less than 30 borrowers who entered repayment in the 2005-2006 award year.    ** ____**   yes     **____**  no**
*Section D. Schools with 30 or More Borrowers Who Entered Repayment in the 2005-2006 Award Year*
**1.1. Number of borrowers who entered repayment in 2005-2006 ****	****	**__________________________
**1.2. Number of borrowers from Field 1.1 above with loans in default by June 30, 2007**__________________________
**1.3. Cohort default rate ((Field 1.2 / Field 1.1) x 100)****	****	****	**__________________________
*Section E. Schools with Fewer than 30 Borrowers Who Entered Repayment in the 2005-2006 Award Year*
**2.1. Number of borrowers who entered repayment in:****	****	****2.2. Number of borrowers with loans in default by:**
**	****(a) 2003-2004 (07/01/2003-06/30/2004)     **__________**	****	****(a) June 30, 2005 (those in 2.1(a) only)          **__________
**	****(b) 2004-2005 (07/01/2004-06/30/2005) ****	**__________**	****	****(b) June 30, 2006 (those in 2.1(b) only)          **__________
**	****(c) 2005-2006 (07-01/2005-06/30/2006) ****	**__________**	****	****(c) June 30, 2007 (those in 2.1(c) only)          **__________
**2.3. Total number of borrowers who entered repayment during the three years above (fields 2.1(a) + 2.1(b) + 2.1(c))          **__________
**2.4. Total number of borrowers with loans in default during the three years above (fields 2.2(a) + 2.2(b) + 2.2(c))                **__________
**2.5. Cohort default rate ((Field 2.4 / Field 2.3) x 100)     ****	****	****	****	****                      **__________

## FISAP and the Campus-Based Formula

- Base Guarantee/Fair Share
- Institutional Need
- Cost of Attendance minus
- All Pell Grants
- Some State Grants
- Expected Family Contributions

## Part II, Sections E and F

- Pell, Academic Competitive, and National SMART Grants
- Eligible Aid Applicants
- Dependent Undergraduates (2)
- Independent Undergraduates (2)
- Independent Graduate/Professional

## Part II, Section F

## Distribution of EAAs, 2003-04

## Standard Campus-Based EFCs, 2003-04

## Campus-Based Programs:Cost of Attendance, 2003-04

## Future Eligible Aid Applicant Grid

**?**

## Campus-Based Programs Funding

- Follow the Students
- Provide More “Fair Share” Funding
- Align Formula EFCs with Actual EFCs

## We Appreciate Your Feedback and Comment

- We appreciate your feedback and comments.
- we can be reached at:
- Phone:	877-801-7168 **(Campus-Based Call Center)**
- Fax:   	703-761-0220
- Email:   	**CBFOB@ed.gov**		    			**Dorothy.Dorsey@ed.gov****	**** ****	****	****	****Mary.Miller@ed.gov****	****	****	****	****	****Dan.Madzelan@ed.gov**