Pell LEU TASFAA佩尔Leu tasfaa.pptxVIP

Pell LEUOctober 9, 2014 Introduction Rice University 6,628 undergraduate, graduate, and professional students Awarded 645 Federal Pell Grants, 2013-2014 Approx. $2.8 million in Pell awards Software System: Banner Glossary of terms LEU Lifetime Eligibility Used DOE Department of Education ISIR Institutional Student Aid Record SAR Student Aid Report COD Common Origination and Disbursement Scheduled The maximum amount of Federal Pell Award Grant funding a student can receive for an award year. Award year Period from July 1 of one calendar year to June 30 of the next calendar year. Pell Lifetime Limit The Consolidated Appropriations Act, P.L. 112-74 was enacted on December 23, 2011. Beginning for 2012-2013 no student can receive more than 600% (12 full time semesters) and students are not grandfathered in. Effective for 2013-2014, the ISIR record contains the percentage of LEU for the student. A message will appear on the SAR through a Comment Code. It will be a range of what they have used. Comment Codes ISIR contains comment code regarding Pell LEU Comment codes found on RNIMSxx 346 and 347 create SAR C Codes. 346 student is close to lifetime eligibility (over 500%) 347 student has reached lifetime eligibility (600%) or is over Other comment codes related to PELL LEU exist for students who are under 500% and are displayed on SAR for student. No action is needed by the school since student has full eligibility left for the year. C Flag is set on RNARSxx This is what prevents packaging or disbursement. Students with 346 will have PLEUC and students with 347 will have PLEUO on RRAAREQ. (tracking screen) How Pell LEU is Calculated Example 1: If the scheduled award for an award year is $5,000, and the student enrolled for only one semester; then, the student receives only $2,500. This is equivalent to 50 percent of the scheduled award for the award year. Percent used: To determine how much of the 600 percent of Pell Grant has been used each year DO