(a) Secretary required to comply with schedule To assure adequate notification and timely delivery of
student aid funds under this subchapter and part C of subchapter I of chapter
34 of title
42, the Secretary shall adhere to the following calendar dates in the year preceding the award year:
(1) Development and distribution of Federal and multiple data entry forms
(A) by February 1: first meeting of the technical committee on forms design of the Department;
(B) by March 1: proposed modifications and updates pursuant to section
1087rr of this title published in the Federal Register;
(C) by June 1: final modifications and updates pursuant to section
1087rr of this title published in the Federal Register;
(D) by August 15: application for Federal
student assistance and multiple data entry data elements and instructions approved;
(E) by August 30: final approved forms delivered to servicers and printers;
(F) by October 1: Federal and multiple data entry forms and instructions printed; and
(G) by November 1: Federal and multiple data entry forms, instructions, and training materials distributed.
(2) Allocations of campus-based and Pell Grant funds
(A) by August 1: distribution of institutional application for campus-based funds (FISAP) to institutions;
(B) by October 1: final date for submission of FISAP by institutions to the Department;
(C) by November 15: edited FISAP and computer printout received by institutions;
(D) by December 1: appeals procedures received by institutions;
(E) by December 15: edits returned by institutions to the Department;
(F) by February 1: tentative award levels received by institutions and final Pell Grant payment schedule;
(G) by February 15: closing date for receipt of institutional appeals by the Department;
(H) by March 1: appeals process completed;
(I) by April 1: final award notifications sent to institutions; and
(J) by June 1: Pell Grant authorization levels sent to institutions.
(3) The Secretary shall, to the extent practicable, notify eligible institutions, guaranty agencies, lenders, interested software providers, and, upon request, other interested parties, by December 1 prior to the start of an award year of minimal hardware and software requirements necessary to administer programs under this subchapter and part C of subchapter I of chapter
34 of title
42.
(4) The Secretary shall attempt to conduct training activities for financial aid administrators and others in an expeditious and timely manner prior to the start of an award year in order to ensure that all participants are informed of all administrative requirements.
(b) Timing for reallocations With respect to any funds reallocated under section
1070b–3 (e)1 of this title, section
2752 (e)1 of title
42, or section
1087bb (j)1 of this title, the Secretary shall reallocate such funds at any time during the course of the year that will best meet the purpose of the programs under subpart 3 of part A of this subchapter, part C of subchapter I of chapter
34 of title
42, and part D of this subchapter, respectively. However, such reallocation shall occur at least once each year, not later than September 30 of that year.
(c) Delay of effective date of late publications
(1) Except as provided in paragraph (2), any regulatory changes initiated by the Secretary affecting the programs under this subchapter and part C of subchapter I of chapter
34 of title
42 that have not been published in final form by November 1 prior to the start of the award year shall not become effective until the beginning of the second award year after such November 1 date.
(2)
(A) The Secretary may designate any regulatory provision that affects the programs under this subchapter and part C of subchapter I of chapter
34 of title
42 and is published in final form after November 1 as one that an entity subject to the provision may, in the entitys discretion, choose to implement prior to the effective date described in paragraph (1). The Secretary may specify in the designation when, and under what conditions, an entity may implement the provision prior to that effective date. The Secretary shall publish any designation under this subparagraph in the Federal Register.
(B) If an entity chooses to implement a regulatory provision prior to the effective date described in paragraph (1), as permitted by subparagraph (A), the provision shall be effective with respect to that entity in accordance with the terms of the Secretarys designation.
