Federal Student Aid  

Topical Heading  

Program Title  

Toll-free Telephone 1-800-4FED-AID or 1-800-433-3243  

Contact Information  

Subject Index  

Education Level (specifically)  

Education Level (by category)  

the financial information reported on theFree Application for Federal Student Aid (FAFSA) and to determine the family EFC. The fundamental elements in this standard formula are the student’s income (and assets if the student is independent), the parents’ income and assets (if the student is dependent), the family’s household size, and the number of family members (excluding parents) attending postsecondary institutions. The EFC is the sum of: (1) a percentage of net income (remaining income after subtracting allowances for basic living expenses and taxes) and

34 CFR 690

Higher Education Act of 1965 (HEA), as amended, Title IV, Part A, Subpart 1; 20 U.S.C. 1070a

Range of New Awards: $400–$4,310 Note: FY 2007 Awards Information reflects final appropriations action that occurred after the completion of the fiscal year 2008 President’s Budget.  

Number of New Awards Anticipated: 5,339,000  

Note: The amount for FY 2006 includes $4.3 billion to retire prior-year funding shortfalls.  

Fiscal Year 2006 $17,345,230,000  

Appropriations  

Undergraduate and vocational students enrolled or accepted for enrollment in participating schools may apply.  

Individuals  

Federal Student Aid (FSA)  

84.063  

Basic Educational Opportunity Grants (BEOGs)  

Federal Pell Grant Program  

Also Known as  

CFDA # (or ED #)  

Administering Office  

Who May Apply (by category)  

Who May Apply (specifically)  

Type of Assistance (specifically) Federal Pell Grants are direct grants awarded through participating institutions to students with financial need who have not received their first bachelor’s degree or who are enrolled in certain postbaccalaureate programs that lead to teacher certification or licensure. Participating institutions either credit the Federal Pell Grant funds to the student’s school account, pay the student directly (usually by check) or combine these methods. Students must be paid at least once per term (semester, trimester, or quarter); schools that do not use formally defined terms must pay the student at least twice per academic year.

Fiscal Year 2005 $12,364,997,000  

Fiscal Year 2007 $12,606,713,000  

Fiscal Year 2007 Awards Information Note: The Department is not bound by any estimates in this notice.Amount of Aid Available: $13,989,305,000Amount of Aid Available represents the amount of funds awarded to participants in the Federal Student Aid programs. Depending upon the program, this total may include federal appropriated dollars, institutional or state matching dollars, and federal or private loan capital.

Average New Award: $2,620  

Legislative Citation  

Program Regulations  

Program Description The Federal Pell Grant Program provides need-based grants to low-income undergraduate and certain postbaccalaureate students to promote access to postsecondary education. Students may use their grants at any one of approximately 5,400 participating postsecondary institutions. Grant amounts are dependent on: the student’s expected family contribution (EFC) (see below); the cost of attendance (as determined by the institution); the student’s enrollment status (full-time or part-time); and whether the student attends for a full academic year or less. Students may not receive Federal Pell Grant funds from more than one school at a time. Financial need is determined by the U.S. Department of Education using a standard formula, established by Congress, to evaluate the financial information reported on theFree Application for Federal Student Aid (FAFSA) and to determine the

(2) a percentage of net assets (assets remaining after subtracting an asset protection allowance). Different assessment rates and allowances are used for dependent students, independent students without dependents, and independent students with dependents. After filing a FAFSA, the student receives aStudent Aid Report (SAR), or the institution receives an Institutional Student Information Record (ISIR), which notifies the student if he or she is eligible for a Federal Pell Grant and provides the student’s EFC.

Postsecondary  

Undergraduate  

Grants, Low Income, Student Financial Aid  

Name Federal Student Aid Information Center  

Links to Related Web Sites