The clock is ticking for schools to release any 2023-24 campus-based funds which haven’t been used.
A July 18 Electronic Announcement outlines the reallocation process, the availability of the 2023-24 Campus-Based Reallocation Form, and what schools need to do to request supplemental funds for 2024-25.
The Department of Education advises that schools review their current expenditures under the Federal Work-Study (FWS) and Federal Supplemental Educational Opportunity Grant (FSEOG) to determine if they have unexpended funds that need to be returned to the Department.
Schools will need to electronically submit the 2023-24 Campus-Based Reallocation Form through the COD website by the August 21 deadline. The form, which will be available on or after August 1, must be completed when a school:
- does not intend to spend its entire 2023-24 FWS or FSEOG allocation; or
- wants to request supplemental 2024-25 FWS funds that will only be used for students in community service jobs and the school had an FWS fair share shortfall on line 28 of its 2024-25 final funding worksheet.
The Announcement also provides more information about the reallocation process and the impact to the minimum seven percent community service expenditure of Federal Work-Study funds. Schools can contact the FSA Partner and School Relations Center at 800-848-0978 or by email at CODSupport@ed.gov for more information about the Campus-Based Reallocation Form or process.
