As part of the Further Consolidated Appropriations Act, the Department of Education will allocate just over $2 billion to the Federal Work-Study and FSEOG programs for the 2024 fiscal year. The electronic announcement below details how each program’s funding is determined, the requirements for returning funds from a previous year, and how offices can view their finalized budget by April 1, 2024.
POSTED DATE: March 28, 2024
AUTHOR: Federal Student Aid
ELECTRONIC ANNOUNCEMENT ID: CB-24-08
SUBJECT: 2024–25 Final Funding Authorizations for the Campus-Based Programs
In a Jan. 31, 2024 Electronic Announcement, we informed schools of tentative 2024–25 funding levels for the Campus-Based programs. We now announce that final 2024–25 Campus-Based programs funding worksheets and the 2024–25 Statement of Account for each of the Campus-Based programs will be posted to the Common Origination and Disbursement (COD) website by April 1, 2024.
A school’s 2024–25 final funding authorization for each of the Campus-Based programs is based on the applicable statutory formula and on the amount of funds appropriated by Congress for that program. A school will not receive a 2024–25 final funding authorization amount for a Campus-Based program that is more than its request for funds made for that program on the Fiscal Operations Report for 2022–23 and Application to Participate for 2024–25 (FISAP) that the school previously submitted to the U.S. Department of Education (the Department).
On March 23, 2024, the President signed into law, the Further Consolidated Appropriations Act, 2024 (P.L. 118-47), which appropriated $1,230,000,000 for the Federal Work-Study (FWS) Program and $910,000,000 for the Federal Supplemental Educational Opportunity Grant (FSEOG) Program for the 2024–25 award year.
The total 2024–25 federal funds available for allocation to schools under the FWS and FSEOG programs are as follows:
- FWS – $1,230,000,000
- FSEOG – $910,000,000
How the Campus-Based Awards for a School are Determined
A school’s final funding level for each of the Campus-Based programs is determined in accordance with provisions of the HEA, and by the implementing regulations at 34 CFR Part 673. The final funding worksheets posted on the COD website will show the information that was used in the calculation of each school’s 2024–25 Campus-Based allocations.
Returning more than 10% of the 2022–23 Allocation for one of the Campus-Based Programs Affects a School’s 2024–25 Allocation
As required by the HEA, unless a waiver has been granted, if a school returns more than 10% of its FWS or FSEOG program allocation for an award year, the school’s allocation for that program in the second succeeding award year will be reduced by the amount returned. Thus, underutilization of 2022–23 funds could impact a school’s allocation of 2024–25 funds.
We accepted requests for a waiver of any 2024–25 award year penalty for the underuse of 2022–23 award year funds with the initial submission of the FISAP or with any FISAP edit submissions received through the Feb. 5, 2024, waiver request deadline. We reviewed the waiver requests received, notified the financial aid administrators at the requesting schools of our decisions, and posted the decision letters to the COD website. Any school that underutilized its 2022–23 allocation by more than 10% and did not receive approval of a waiver request will see an adjustment in the applicable final funding worksheet on the line labeled “Allocation Reduction”.
Notification of 2024-25 Campus-Based Allocations
In addition to this announcement, individual schools will be notified by email that the 2024–25 Campus-Based allocation information has been posted to the COD website. Emails are sent to the school’s Financial Aid Administrator, as provided in the school’s most recently submitted FISAP or the FAA listed on the “Contact Info” page in the Campus-Based section of the COD website. This email will advise the school that it can access its 2024–25 Campus-Based allocation information for each Campus-Based program in which the school participates in the school’s 2024–25 Statement of Account or Final Funding Worksheets posted on the COD website. To access both documents:
- Log in to the COD website
- From the School tab, select “Campus-Based” from the left navigation menu
- Select the “Self-Service” link from the left navigation menu, then “Notifications”
- Select the 2024–25 Application Year from the drop-down menu to view the Statement of Account and Final Award Worksheet
An explanation of the funding worksheet for each program and information about Standard Expected Family Contribution procedures can be found below.
Reallocation of Additional Campus-Based Funds for the 2024–25 Award Year
All Campus-Based funds available for the 2024–25 award year have been allocated in this final Campus-Based allocation process. However, some schools may qualify for supplemental 2024–25 Campus-Based funds based upon a reallocation of funds not spent by institutions from 2023–24 allocations. Specific information on the reallocation process and the electronic application for requesting additional funds will be provided in subsequent communications.
Contact Information
For additional information about 2024–25 Campus-Based allocations, contact the FSA Partner and School Relations Center at 1-800-848-0978. You may also email CODSupport@ed.gov.
Attachments
The Department of Education strives to make all content accessible to everyone. While these documents do not currently meet the standards of Section 508 of the Rehabilitation Act of 1973, as amended, Federal Student Aid is working to create accessible versions. If you need access to these documents before the accessible versions are available, please contact the Information Technology Accessibility Program Help Desk at ITAPSupport@ed.gov to help facilitate.
2024–25 Explanation of Worksheets in PDF Format, 108KB, 3 Pages
SOURCE: (CB-24-08) 2024–25 Final Funding Authorizations for the Campus-Based Programs