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Appropriations
Fiscal Year 2008 $920,000,000
Fiscal Year 2007 $850,000,000
Fiscal Year 2006 $790,000,000
Note: FY 2006 was the first year of funding. Any funds not used in any fiscal year can be carried forward for use in subsequence fiscal years. Current estimates of aid awarded are $340 million for ACG and $310 million for SMART Grants.
Awards Information
2008
Amount of Aid Available: $700,000,000
Number of New Awards Anticipated: 638,000
Average New Award: $787 for ACG; $3,291 for SMART Grants
Range of New Awards: $750–$4,000
2007
Amount of Aid Available: $730,000,000
Amount 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.
Number of New Awards Anticipated: 579,000
Average New Award: $845 for ACG;
$3,780 for SMART Grants
Range of New Awards: $750–$4,000
Note: FY 2007 Awards Information reflects final appropriations action that occurred after the completion of the fiscal year 2008 President's Budget.
Note: The Department is not bound by any estimates in this notice.
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