The Department of Education ensures equal access to education and promotes educational excellence through coordination, management and accountability in Federal education programs. The Department works to supplement and complement educational efforts on all levels, encouraging increased involvement by the public, parents and students.
Institutions will award $958,816,000 in aid to 1,254,995 students.
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.
Higher education institutions (public, private nonprofit, postsecondary vocational, and proprietary) meeting eligibility requirements may apply.
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.
Institutions must document their eligibility and students must demonstrate financial need. This program is excluded from coverage under OMB Circular No. A-87.
Aplication and Award Process
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.
This program is excluded from coverage under E.O.
This program is excluded from coverage under OMB Circular No.
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. This program is subject to the provisions of OMB Circular No. A-110.
The Federal Student Aid office determines final awards and notifies participating institutions.
Specified on the application (usually October 1). Contact the program office for additional information.
Higher Education Act of 1965, as amended, Title IV, Part A, Subpart 3, 20 U.S.C. 1070b-1070b-3.
Range of Approval/Disapproval Time
Notices of tentative awards sent by February 1, and final award notifications sent by April 1.
There are annual renewals.
Formula and 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.
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.
Post Assistance Requirements
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).
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.
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.
(Grants) FY 07 $770,933,000; FY 08 est $757,465,000; and FY 09 est $0.
Range and Average of Financial Assistance
The estimated average award to students was approximately $764.
Regulations, Guidelines, and Literature
34 CFR 676, Student Guide fact sheet, no charge; Student Financial Aid Handbook, no charge; Notification to Members of Congress, list of grantees, published annually or as required, no charge; Federal Needs Analysis Methodology Booklet, no charge; Verification Handbook, no charge; training materials, no charge.
Regional or Local Office
Students should contact the educational institution(s) they attend or plan to attend. Educational institutions should contact the Regional Administrator for Student Financial Assistance in the appropriate ED Regional Office (see Appendix IV of the Catalog).
Office of Federal Student Aid, Department of Education, 400 Maryland Avenue, SW., Washington, DC 20202-5446. Federal Student Aid Information Center Telephone: 1-800-4FED-AID (800-433-3243).
Criteria for Selecting Proposals
Nobel Peace Prize winner, founder of Grameen Bank and chairman, Muhammad Yunus, writes about happiness: That happiness comes from many sources, not as the current economic framework assumes, just from making money.