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Description: Tags: Eoy-05-06-Introduction

The document summarizes key details about the 2005-2006 Federal Pell Grant Program End-of-Year Report. It provides grants to undergraduate students with financial need, ranging from $400-$4,050. Over 5.1 million students received grants totaling $12.7 billion. Eligibility is based on financial need determined by a formula using factors like income, assets, and family size to calculate an expected family contribution. The amount of the grant increases as the expected family contribution decreases, with students having $0 contribution eligible for the maximum $4,050 award.

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37 views

Description: Tags: Eoy-05-06-Introduction

The document summarizes key details about the 2005-2006 Federal Pell Grant Program End-of-Year Report. It provides grants to undergraduate students with financial need, ranging from $400-$4,050. Over 5.1 million students received grants totaling $12.7 billion. Eligibility is based on financial need determined by a formula using factors like income, assets, and family size to calculate an expected family contribution. The amount of the grant increases as the expected family contribution decreases, with students having $0 contribution eligible for the maximum $4,050 award.

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anon-409340
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© Attribution Non-Commercial (BY-NC)
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Download as DOC, PDF, TXT or read online on Scribd
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Introduction

Purpose of the End-of-Year Report Federal Pell Grant Program

The Federal Pell Grant End-of-Year Report Title IV programs are managed by the Office of
presents primary aspects of Federal Pell Grant Federal Student Aid (FSA) within the U.S.
Program activity for the 2005-2006 award Department of Education. The programs are
period. authorized by the Higher Education Act of 1965,
as amended.
This presentation is a compilation of quantitative
program data assembled to offer insights into A formula established by Congress is used to
the changes to the Title IV applicant universe calculate a student’s Expected Family
and the Federal Pell Grant Program. The Contribution (EFC). This is the amount that a
Federal Pell Grant End-of-Year Report provides family can be expected to contribute towards the
factual information and highlights important student’s cost of attendance. For the Federal
programmatic issues. Pell Grant Program the EFC is used to
determine the financial eligibility of the student.
Since 1973, the Office of Postsecondary
Education has compiled summary information The Federal Pell Grant Program is designed to
on Title IV applicants and Federal Pell Grant help the neediest undergraduate students. For
Program activity. The information provides a many students, Federal Pell Grants provided a
basis for program planning and development. foundation of financial aid, to which aid for other
The Report can also be used by policy makers federal and non-federal sources may be added.
to estimate the potential impact of actual or The program provided grants ranging from
proposed policies on Pell Grant recipients and $400-$4,050 to over 5.1 million students in
federal aid applicants. In addition, the End-of- 2005-2006, with awards totaling
Year Report can assist researchers, students, $12,693,127,982.
higher education officials, and financial aid
administrators to better understand current Databases for the End-of-Year Report
patterns of Federal Pell Grant disbursements Tables
and Title IV applicant activity.
All tables in the 2005-2006 End-of-Year Report
The Title IV/Federal Pell Grant Program End-of- are derived from a merged file containing Title IV
Year Report is produced by Vangent, Inc., under applicant and Federal Pell Grant recipient data
contract to the Office of Postsecondary through January 2007. The applicant data are
Education of the U.S. Department of Education. from the student applications processed by the
Comments, questions, or request for copies central processing system; recipient information
should be addressed to: is from the common origination and
disbursement system. Since the Pell Grant
Mary A. Miller recipient system continues to process data long
U.S. Department of Education after the end of the award year, some
Office of Postsecondary Education unreconciled student payment data may be
1990 K Street, N.W. included in the universe file. The potential
Mail Stop 8540 number of students with this unreconciled
Washington, D.C. 20006-8540 payment data is very small, and would have
[email protected] minimal impact on the dollar figures and student
distributions herein presented.
Copies of the End-of-Year Report can also be
obtained on-line at: Eligibility
http://www.ed.gov/finaid/prof/resources/data/ope The Federal Pell Grant is distinguished from
.html other financial assistance in that all students
meeting certain criteria are guaranteed aid, with
the amount of aid determined by financial need,

2005-2006 End-of-Year Report 1


enrollment level, and educational cost. quarter-time, half-time, or less than half-time) to
However, because of limited funding, the determine the amount of the Federal Pell Grant
program is not a true entitlement, as benefits (although cost of education only affects the
may be reduced from those anticipated under a student’s award amount if the cost is less than
fully-funded system. To be eligible for a grant, $4,050). Tuition may also be a factor in
an individual must meet certain residency calculating the amount of the award for students
requirements, be enrolled in an eligible program enrolled at low-tuition schools.
at a school participating in the Federal Pell
Grant Program, and be determined to have The lower the EFC, the greater the
sufficient financial need. demonstration of a student’s financial need.
Consequently, the amount of the grant increases
As mentioned above, financial need for 2005- as the EFC decreases, such that an applicant
2006 is calculated using formulas mandated by with the minimum EFC of zero may generally
Congress in the Higher Education Amendments receive the maximum award equal to the
of 1965, as amended. These formulas, applied applicant’s education cost for the year up to
consistently to all applicants, take into account $4,050. Proportionally smaller awards are made
such indicators of financial strength as income, to part-time students.
assets, and family size. The EFC is combined
with the cost of the student’s education and the
student’s enrollment status (full-time, three-

2005-2006 End-of-Year Report 2

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