FSA will complete closeout of all 2024–25 Campus-Based program awards by March 16, 2026, using the data schools submitted on the Fiscal Operations Report for 2024–25 and Application to Participate for 2026–27 (FISAP).
In a recent announcement, FSA explains the 2024–25 awards closeout process and provides important information regarding the closeout notification process.
See below for the full announcement or visit: (CB-26-04) 2024–25 Campus-Based Awards Closeout
Posted Date February 27, 2026
Author Federal Student Aid
Electronic Announcement ID CB-26-04
Subject 2024–25 Campus-Based Awards Closeout
We will complete closeout of all 2024–25 Campus-Based program awards by March 16, 2026, using the data schools submitted on the Fiscal Operations Report for 2024–25 and Application to Participate for 2026–27 (FISAP).
We explain the 2024–25 awards closeout process below and provide important information regarding the closeout notification process.
2024–25 Awards Closeout for the Campus-Based Programs
To prepare for 2024–25 awards closeout, a school must reconcile its authorized Federal Work-Study (FWS) and Federal Supplemental Educational Opportunity Grant (FSEOG) awards in G5 with the amounts it reported as expended on the school’s 2024–25 Fiscal Operations Report.
For example, if a school’s FWS authorized amount was $50,000 and the school reported an expended amount of $40,000 (in Part V, Section E, field 18), we will close out the school’s FWS award at the expended amount of $40,000. We assume that the correct amount of expenditures is the amount the school reported on the FISAP. We will deobligate the unexpended $10,000 from the school’s authorization amount in G5.
Closeout Amount in G5 and on G5 Reports
The closeout amount will appear in G5 as the authorized amount for the 2024–25 award year. If a school drew down more than what it reported as expended in its 2024–25 Fiscal Operations Report, a negative amount will appear in the “available balance” line in G5 and on reports generated from G5.
If a school has a negative balance in G5, the school must refund the amount of the negative balance using G5. Schools that made the refund but posted it to the wrong program must make a drawdown from the program in which the incorrect refund was posted, then refund the amount to the correct program.
Note About Negative Balances and Late FISAP Corrections: If the closeout process results in a negative balance, the school cannot resolve the balance through the submission of late FISAP corrections. We will not reinstate the unexpended amount that we deobligated from G5 at closeout for any reason.
For assistance in making refunds or drawdowns, contact the U.S. Department of Education Business Support Services Helpdesk at 1-888-336-8930 or obssed@servicenowservices.com. Customer service representatives are available Monday through Friday from 8 a.m. to 6 p.m. Eastern time (ET).
Closeout Amounts Determination Process
A school determines closeout amounts as follows:
- For the FSEOG Program, subtract the unexpended 2024–25 FSEOG authorization amount (Part IV, line 18 on the FISAP) from the school’s current 2024–25 FSEOG award authorization amount. The school’s final 2024–25 FSEOG award amount is then equal to the expended FSEOG authorization amount (Part IV, line 17 on the FISAP).
- For the FWS Program, subtract the unexpended 2024–25 FWS authorization amount (Part V, line 19 on the FISAP) from the school’s current 2024–25 FWS award authorization amount. The school’s final 2024–25 FWS award amount is then equal to the expended FWS authorization amount (Part V, line 18 on the FISAP).
Note: If a school did not submit a FISAP that reported 2024–25 expenditures, we will reduce the school’s authorizations to zero ($0.00).
Notification of Award Decrease
We will email schools if we decrease a 2024–25 Campus-Based award through the closeout process. The email will inform affected schools that the Statement of Account posted on the Common Origination and Disbursement (COD) website reflects the award decrease. We will send the email to the school’s financial aid administrator (FAA), 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. After notification, if the award decrease results in a negative balance in G5, the school must return the funds through G5.
Schools can access the Statement of Account by following these steps:
- Log in to the COD website.
- Select the “School” link from the top navigation bar.
- Select “Campus-Based” from the right navigation menu.
- Select “Self-Service” on the right navigation menu.
- Select “Notifications.”
Contact Information
For assistance related to the 2024–25 awards closeout for the Campus-Based programs, contact the FSA Partner and School Relations Center at 1-800-848-0978. The contact center is open Monday through Friday from 10 a.m. to 6 p.m. ET. You may also email CODSupport@ed.gov.