Federal Student Aid has released guidance for how institutions can utilize their excess Federal Work-Study and FSEOG funds using the 2023-24 Reallocation Form when it becomes available on or after August 1, 2024. Remaining funds from the current academic year can also be used to employ students seeking community service jobs in 2024-25 if schools properly request the reallocation by the August 21st deadline through the COD website.
POSTED DATE: July 18, 2024
AUTHOR: Federal Student Aid
ELECTRONIC ANNOUNCEMENT ID: CB-24-15
SUBJECT: Information about the Reallocation Process, the 2023–24 Campus-Based Reallocation Form, and the Process to Request Supplemental Federal Work-Study Funds for 2024–25
This announcement provides information about the reallocation process, the availability of the 2023–24 Campus-Based Reallocation Form, and the action schools need to take to request supplemental funds for 2024–25. Schools use the reallocation process to release unexpended portions of their 2023–24 allocations in the Federal Work-Study (FWS) and/or Federal Supplemental Educational Opportunity Grant (FSEOG) programs or to request supplemental 2024–25 FWS funds that will be used to employ students in community service jobs.
Each school should carefully examine its current expenditures under the FWS and FSEOG programs to determine whether there will be any unexpended funds available from 2023–24 allocations.
Schools that will have unspent funds should complete the Campus-Based Reallocation Form as described below. Unexpended 2023–24 funds will be used to provide supplemental FWS and/or FSEOG funds in 2024–25 to other eligible schools, but only if unexpended funds are reported by the deadline.
As announced in the Federal Register notice, “Federal Perkins Loan, Federal Work-Study, and Federal Supplemental Educational Opportunity Grant Programs: 2024–25 Award Year Deadline Dates,” the deadline date by which a school must electronically submit its 2023–24 Campus-Based Reallocation Form is Wednesday, Aug. 21, 2024.
Completing the Campus-Based Reallocation Form
The Campus-Based Reallocation Form must be completed if
- A school does not intend to spend its entire 2023–24 FWS or FSEOG allocation; or
- A school wants to request supplemental 2024–25 FWS funds that will be used only for the purpose of employing students in community service jobs and the school had an FWS fair share shortfall as shown on line 28 of the school’s 2024–25 final funding worksheet.
The Campus-Based Reallocation Form must be submitted electronically via the COD website once it becomes available. To submit the Campus-Based Reallocation Form:
- Log into the COD website.
- From the “School” tab, select “Campus-Based Syst” from the left navigation menu.
- Select “Forms and Waivers” from the left navigation menu, then click on “Manage Application.”
- Click on the “Create” button next to the Campus-Based Reallocation Form to begin to edit and submit.
The 2023–24 Campus-Based Reallocation Form will become available on or after Aug. 1, 2024.
Reallocation Process and Impact to Minimum 7% Community Service Expenditure of the FWS Federal Funds
Generally, FWS federal funds released on the Campus-Based Reallocation Form by the deadline date are not included in the calculation of the requirement to spend at least 7% of the FWS allocation to pay the federal share of compensation to students employed in community service positions. However, per the guidance issued in the Jan. 15, 2021 Electronic Announcement, the FWS community service requirements were waived for all participating schools through the end of the award year that begins after the end date of the national emergency. With the national emergency having ended as of May 11, 2023, the automatic waiver of the FWS community service requirements was extended through the 2023–24 award year but will not be extended through the 2024–25 award year.