AUTHORIZATION:

Higher Education Act of 1965, as amended, Title IV, Part A, Subpart 3, 20 U.S.C. 1070b-1070b-3.

OBJECTIVES:

To provide need-based grant aid to eligible undergraduate postsecondary students to help meet educational expenses.

TYPES OF ASSISTANCE:

Direct Payments for Specified Use Place Cursor Here for Definition

USES AND USE RESTRICTIONS:

Grants are for undergraduate study, and range from $100 to $4,000 per academic year. However, if reasonable study abroad costs exceed the cost of attendance at the home institution, the amount of the grant may exceed the $4,000 maximum by as much as $400. A student is eligible to receive a FSEOG for the period of time needed to complete the first undergraduate baccalaureate course of study being pursued by that student. If it awards grants to students in that year an institution is entitled to an administrative cost allowance for an award year of 5 percent of the first $2,750,000, expended plus 4 percent of expenditures greater than $2,750,000 but less than $5,500,000, plus 3 percent of expenditures in excess of $5,500,000.

ELIGIBILITY REQUIREMENTS:

Applicant Eligibility:   Higher education institutions (public, private nonprofit, postsecondary vocational, and proprietary) meeting eligibility requirements may apply.

Beneficiary Eligibility:   Undergraduate students enrolled or accepted for enrollment as regular students; are maintaining satisfactory academic progress in accordance with the standards and practices of the institution, have financial need, do not owe a refund on a Title IV grant, are not in default on a Title IV loan, file a statement of educational purpose, file a statement of registration compliance (Selective Service) and meet citizen/resident requirements may benefit.

Credentials/Documentation:   Undergraduate students enrolled or accepted for enrollment as regular students; are maintaining satisfactory academic progress in accordance with the standards and practices of the institution, have financial need, do not owe a refund on a Title IV grant, are not in default on a Title IV loan, file a statement of educational purpose, file a statement of registration compliance (Selective Service) and meet citizen/resident requirements may benefit.

Pre-application Coordination:   Representatives of the appropriate ED Regional Office are available for consultation (see listing of ED Regional Offices in Appendix IV). Students should contact the institution(s) they attend or wish to attend. Environmental impact information is not required for this program. This program is excluded from coverage under E.O. 12372.

Application Procedure:   This program is excluded from coverage under OMB Circular No. A-102. OMB Circular No. A-110 applies to this program. Participating institutions submit the Fiscal Operations Report/Application to Participate in Federal Student Financial Aid Programs (ED Form 646-1) which is mailed to institutions of postsecondary education each summer by the Federal Student Aid office. New institutions submit only the application form.

Award Procedure:   The Federal Student Aid office determines final awards and notifies participating institutions. Postsecondary institutions determine individual student awards.

Deadlines:   Oct 01, 2009 Deadlines are specified on the application (usually October 1). Contact the program office for additional information.

Range of Approval/Disapproval Time:   

Notices of tentative awards sent by February 1, and final award notifications sent by April 1.

Appeals:   

Not Applicable.

Renewals:   

There are annual renewals.

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ASSISTANCE CONSIDERATIONS:

Formula and Matching Requirements:   

Statutory Formula: Title IV, Part A, Subpart 3. Matching Requirements: Funds are allocated to institutions on the basis of the insitution's base guarantee and pro rata share and then on demonstrated need for funding. Institutions award funds to students on the basis of financial need as determined by the Federal Needs Analysis Methodology specified in statute. This program requires institutional matching funds. The Federal share may not exceed 75 percent unless waived based on objective criteria established in regulations. MOE requirements are not applicable to this program.

Length and Time Phasing of Assistance:   

Funds are awarded for use by participating institutions for one award year at a time following the year of application. See the following for information on how assistance is awarded/released: Specified in the award document.

POST ASSISTANCE REQUIREMENTS:

Reports:   A single combined Fiscal Operations Report/Application form for Federal Perkins Loans, FSEOG, and FWS (ED 646-1) is submitted by each institution at the close of each award year (June 30). Cash reports are not applicable. Progress reports are not applicable. Expenditure reports are not applicable. Performance monitoring is not applicable.

Audits:   In accordance with the provisions of OMB Circular No. A-133 (Revised, June 27, 2003), "Audits of States, Local Governments, and Non-Profit Organizations," nonfederal entities that expend financial assistance of $500,000 or more in Federal awards will have a single or a program-specific audit conducted for that year. Nonfederal entities that expend less than $500,000 a year in Federal awards are exempt from Federal audit requirements for that year, except as noted in Circular No. A-133. Institutions must have a nonfederal audit done on at least an annual basis at its own expense. Audits are performed at Government expense by the Department of Education's Office of the Inspector General as often as its time schedule will allow or when deemed necessary by the Secretary.

Records:   All records pertaining to the activities of a given fiscal year must be retained for a period of three years following the institution's submission of its Fiscal Operations Report for an award year or until resolution of an applicable audit, whichever is later.

FINANCIAL INFORMATION:

Account Identification:  

91-0200-0-1-502.

Obligations:   (Direct Payments for Specified Use) FY 08 $757,465,000; FY 09 est $757,465,000; FY 10 est $757,465,000

Range and Average of Financial Assistance:  

The average award in FY 2015 was $598. The average award for FY 2016 and FY 2017 is estimated to be $598.

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