[Code of Federal Regulations]
[Title 34, Volume 3]
[Revised as of July 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 34CFR628.32]

[Page 278-279]
 
                           TITLE 34--EDUCATION
 
                         DEPARTMENT OF EDUCATION
 
PART 628--ENDOWMENT CHALLENGE GRANT PROGRAM--Table of Contents
 
  Subpart D--How Does the Secretary Award an Endowment Challenge Grant?
 
Sec. 628.32  What funding priorities does the Secretary use in evaluating an application for an endowment challenge grant?

    In evaluating an endowment challenge grant application, the 
Secretary uses the following two priorities:
    (a) Recipient or former recipient of a grant under the Strengthening 
Institutions, Special Needs, Hispanic-Serving Institutions, 
Strengthening Historically Black Colleges and Universities, or 
Strengthening Historically Black Graduate Institutions Program. (Total: 
20 points) The Secretary gives 20 points to each applicant who on 
October 1 of the fiscal year in which the applicant is applying for an 
endowment challenge grant is a current recipient of a planning or 
development grant, or was a recipient of a planning or development grant 
within the five preceding fiscal years, under the Strengthening 
Institutions, Special Needs, Hispanic-Serving Institutions, 
Strengthening Historically Black Colleges and Universities, or 
Strengthening Historically Black Graduate Institutions Program.
    (b) Need for an endowment challenge grant as measured by the lack of 
endowment funds. (Total: 20 points)
    (1) The Secretary gives up to 20 total points to an applicant with 
the greatest need for an endowment challenge grant under this part, as 
measured by the applicant's lack of endowment funds.

[[Page 279]]

    (2) The Secretary gives up to 20 points to the applicant with the 
lowest market value, at the end of the applicant's fiscal year preceding 
the year it applies for an endowment challenge grant, of its existing 
endowment and quasi-endowment fund in relation to the number of full-
time equivalent students enrolled at the institution in the fall of the 
year preceding the year it applies for an endowment challenge grant.
    (3) In measuring the applicant's need for an endowment challenge 
grant, the Secretary excludes real estate from being considered as part 
of the applicant's existing endowment or quasi-endowment fund.

(Approved by the Office of Management and Budget under control number 
1840-0531)

(Authority: 20 U.S.C. 1065)

[49 FR 28521, July 21, 1984, as amended at 52 FR 11258, Apr. 8, 1987; 58 
FR 11163, Feb. 23, 1993; 59 FR 46175, Sept. 7, 1994]