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.
This program was created by the Higher Education Reconciliation Act of 2006; it began operation on July 1, 2006. The Department of Education estimates that awards will support 79,000 students.
Uses and Use Restrictions
The student must be a U. S. citizen who has been accepted for enrollment in, and is making satisfactory progress at an eligible institution of higher education.
Eligible schools may be public or private nonprofit institutions of higher education (such as colleges, universities, vocational technical schools, hospital schools of nursing), and for-profit institutions (proprietary).
Eligible males who are at least 18 years or older and born after December 31, 1959, can receive aid only if they have registered with the Selective Service.
Graduate students and students who have already earned a bachelor's degree are not eligible for assistance.
Recipients must demonstrate need according to Part F of the Higher Education Act of 1965, as amended, and must be eligible for a Federal Pell Grant.
Undergraduate students enrolled as full-time regular students in an eligible program at an eligible institution of higher education and making satisfactory academic progress.
Applicants must be U.S.
citizens and have a high school diploma, a GED, or demonstrate the ability to benefit from the program of study offered.
Third- and fourth-year undergraduate students who are U.S citizens and are eligible to receive a Federal Pell Grant. Students must be full-time regular students in an eligible program at an eligible institution of higher education and making satisfactory academic progress. Students are required to pursue a major in physical, life, or computer sciences, mathematics, technology, engineering or a critical foreign language, and obtain a cumulative GPA of at least 3.0 in the coursework required for the major being pursued. In addition, students must sign a statement of educational purpose, not owe a refund on a Title IV grant, and not be in default on a Title IV loan. Eligible males that are at least 18 years old and born after December 31, 1959, can receive aid only if they have registered with the Selective Service.
This program is exempted from coverage under OMB Circular No. A-87.
Aplication and Award Process
This program is excluded from coverage under E.O.
This program is excluded from coverage under OMB Circular No.
Student completes a "Free Application for Federal Student Aid" and submits it to the agency specified on the form. Students may apply using a paper application, an electronic application, or via the Internet. The Department of Education calculates the student's eligibility for assistance and the agency to which the student sent the application returns a notification to the student of his or her eligibility for assistance. The student submits this notification to the institution of his or her choice in order to have his or her award calculated. This program is excluded from coverage under OMB Circular No. A-110.
Institutions act as disbursing agents for the Department of Education. The institution that the student attends calculates and disburses the SMART Grants, using a payment schedule developed by the Department of Education that determines the amount of the award based on the amount of available funding and the estimated number of recipients.
Contact the program office for deadlines.
Higher Education Act of 1965, Title IV, Part A, Subpart 1, Section 401A, as amended.
Range of Approval/Disapproval Time
Approximately 2 to 4 weeks.
An institution, on the basis of supplemental documentation, may rule that an applicant is self-supporting, even though under the standard criteria, the applicant would normally be considered financially dependent on his or her parents. An institution may adjust on a case-by-case basis a student's data elements used to calculate his or her EFC and cost of attendance due to unusual circumstances documented by the institution.
Students who have applied in the previous award year may be eligible to complete a paper or electronic renewal application that contains preprinted student data and requires students only to update certain information.
Formula and Matching Requirements
Length and Time Phasing of Assistance
Students are limited to one SMART Grant during any award year (July 1 through June 30). Funds for these grants are usually disbursed at least twice during an award year. Students may only receive a SMART Grant until they have received a bachelor's degree.
Post Assistance Requirements
Institutions will be required to furnish reports, periodically, on the disbursement of funds, as well as furnish any other reports the Department requires.
No reports are required of students.
Annual audits will be made.
All records pertaining to the eligibility of each SMART Grant recipient and all fiscal management records must be maintained by the institution for a period of 3 years or until an acceptable audit has been completed, whichever is later. Selected students will have the information on their applications verified.
(Grants) FY 07 $230,000,000; FY 08 est $260,000,000; and FY 09 est $270,000,000.
Range and Average of Financial Assistance
Grants are up to $4,000 for third- and fourth-year students. In combination with other Federal student aid, awards may not exceed a student's cost of education; in addition, award levels may be reduced if available funding is insufficient to support estimated program costs. Average award: est $3,291.
Regulations, Guidelines, and Literature
This program was created by the Higher Education Reconciliation Act of 2006; it began operation on July 1, 2006. Contact the program office for more information.
Regional or Local Office
Federal Student Aid Information Center. Telephone: (1-800) 433-3243. Regional Director, Federal Student Aid, the Director of Financial Aid at the institution the student wishes to attend, high school guidance counselors, or directors of State agencies.
Office of Postsecondary Education, Department of Education, 400 Maryland Avenue, S.W., Washington, DC 20202. Telephone: (800) 433-2343.
Criteria for Selecting Proposals
The Central Bank of Nigeria (CBN) released the Nigerian Sustainable Banking Principles, an agreement signed by 34 banks, including the original eight of the nation’s leading banks, that covered nine key areas: environmental and social risk management, environmental and social footprint, human rights, women’s economic empowerment, financial inclusion, environmental and social governance, capacity building, collaborative partnerships and reporting.