Education Department Seeks Input on Same-Old Student Aid Financial Reports
Published Date: 1/14/2026
Notice
Summary
The Department of Education wants to keep collecting info for the Fiscal Operations Report and Application to Participate for 2025-2026 and 2027-2028, with no changes. Schools and programs that get federal student aid will keep reporting their finances and plans. You’ve got until March 16, 2026, to share your thoughts, so don’t miss out!
Analyzed Economic Effects
3 provisions identified: 0 benefits, 3 costs, 0 mixed.
Title IV Schools Keep FISAP Reporting
If your school or program participates in Title IV federal student aid, you must continue to submit the Fiscal Operations Report and Application to Participate (FISAP) for the 2025-2026 award year and the Application to Participate for 2027-2028, plus the Reallocation Form. The Department is proposing to extend this information collection without change and will use the submitted data to determine each institution's funding need and to monitor program effectiveness and accountability.
Unused FWS/FSEOG Must Be Reported
The Higher Education Act requires that if an institution expects not to use all of its allocated Federal Work-Study (FWS) and Federal Supplemental Educational Opportunity Grant (FSEOG) funds by the end of an award year, the institution must report the anticipated unused amount to the Secretary. The Secretary will reduce the institution's allocation accordingly.
Estimated Reporting Burden for Institutions
The Department estimates 3,691 annual responses and a total of 84,756 annual burden hours for this information collection. These figures represent the Department's estimate of the total time burden on responding institutions for the FISAP and Reallocation Form.
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