[Federal Register Volume 72, Number 86 (Friday, May 4, 2007)]
[Notices]
[Pages 25276-25282]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E7-8576]


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DEPARTMENT OF EDUCATION

[CFDA Nos. 84.007, 84.032, 84.033, 84.038, 84.063, 84.069, 84.268, 
84.375, and 84.376]


Student Assistance General Provisions, Federal Supplemental 
Educational Opportunity Grant, Federal Family Education Loan, Federal 
Work-Study, Federal Perkins Loan, Federal Pell Grant, Leveraging 
Educational Assistance Partnership, William D. Ford Federal Direct 
Loan, Academic Competitiveness Grant, and National Science and 
Mathematics Access To Retain Talent Grant Programs

ACTION: Notice of deadline dates for receipt of applications, reports, 
and other records for the 2006-2007 award year.

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SUMMARY: The Secretary announces deadline dates for the receipt of 
documents and other information from institutions and applicants for 
the Federal student aid programs authorized under Title IV of the 
Higher Education Act of 1965, as amended, for the 2006-2007 award year. 
The Federal student aid programs include the Federal Perkins Loan, 
Federal Work-Study, Federal Supplemental Educational Opportunity Grant, 
Federal Family Education Loan, William D. Ford Federal Direct Loan, 
Federal Pell Grant, Academic Competitiveness Grant, National Science 
and Mathematics Access to Retain Talent Grant, and Leveraging 
Educational Assistance Partnership programs.
    These programs, administered by the U.S. Department of Education 
(Department), provide financial assistance to students attending 
eligible postsecondary educational institutions to help them pay their 
educational costs.
    Deadline and Submission Dates: See Tables A and B at the end of 
this notice.

Table A--Deadline Dates for Application Processing and Receipt of 
Student Aid Reports (SARs) or Institutional Student Information Records 
(ISIRs) by Institutions

    Table A provides deadline dates for application processing, 
including corrections and submission of signatures, submission of 
verification documents and, for purposes of the Federal Pell Grant, 
Academic Competitiveness Grant (ACG), and National Science and 
Mathematics Access to Retain Talent Grant (National SMART Grant) 
programs, receipt by institutions of SARs or ISIRs. We are using only 
three deadline dates in Table A for the 2006-2007 award year. The 
single date for the receipt of a Free Application for Federal Student 
Aid (FAFSA) is July 2, 2007, regardless of the method that the 
applicant uses to submit the FAFSA. September 17, 2007 is the deadline 
date for the submission and receipt of a signature page (if required), 
corrections, changes of addresses or schools, or requests for a 
duplicate SAR. September 24, 2007 is the deadline date for the 
submission and receipt of all other documents and materials that are 
specified in Table A.

Table B--Federal Pell Grant, ACG, and National SMART Grant Programs 
Submission Dates for Disbursement Information by Institutions

    Table B provides the earliest submission and deadline dates for 
institutions to submit Federal Pell Grant, ACG, and National SMART 
Grant disbursement records to the Department's Common Origination and 
Disbursement (COD) System.
    In general, an institution must submit Federal Pell Grant, ACG, and 
National SMART Grant disbursement records no later than 30 days after 
making a Federal Pell Grant, ACG, and National SMART Grant disbursement 
or becoming aware of the need to adjust a student's previously reported 
Federal Pell Grant, ACG, and National SMART Grant disbursement. 
However, because institutions were not able to submit ACG and National 
SMART Grant disbursement records until December 16, 2006, we considered 
institutions to be in compliance with the 30-day disbursement-reporting 
requirement for those two programs until January 17, 2007.
    In accordance with the regulations in 34 CFR 668.164, we consider 
that Federal Pell Grant, ACG, and National SMART Grant funds are 
disbursed on the earlier of the date that the institution: (a) Credits 
those funds to a student's account in the institution's general ledger 
or any subledger of the general ledger, or (b) pays those funds to a 
student directly. We consider that Federal Pell Grant, ACG, and 
National SMART Grant funds are disbursed even if an institution uses 
its own funds in advance of receiving program funds from the 
Department. An institution's failure to submit disbursement records 
within the required 30-day timeframe may result in an audit or program 
review finding. In addition, the Secretary may initiate an adverse 
action, such as a fine or other penalty for such failure.

Other Sources for Detailed Information

    We publish a detailed discussion of the Federal student aid 
application process in the following publications:
    <bullet> 2006-2007 Funding Education Beyond High School.
    <bullet> 2006-2007 Counselors and Mentors Handbook.
    <bullet> A Guide to 2006-2007 SARs and ISIRs.
    <bullet> 2006-2007 Federal Student Aid Handbook.
    Additional information on the institutional reporting requirements 
for the Federal Pell Grant, ACG, and National SMART Grant programs is 
contained in the 2006-2007 Common Origination and Disbursement (COD) 
Technical Reference. You may access this reference by selecting 
``Software Technical References'' under the heading ``Publications'' at 
the Information for Financial Aid Professionals Web site at: 
www.ifap.ed.gov.
    Applicable Regulations: The following regulations apply: (1) 
Student Assistance General Provisions, 34 CFR part 668, (2) Federal 
Pell Grant Program, 34 CFR part 690, and (3) Academic Competitiveness 
Grant and National Science and Mathematics Access to Retain Talent 
Grant Programs, 34 CFR part 691.

FOR FURTHER INFORMATION CONTACT: Harold McCullough, U.S. Department of 
Education, Federal Student Aid, 830 First Street, NE., Union Center 
Plaza, Room 113E1, Washington, DC 20202-5345. Telephone: (202) 377-
4030.
    If you use a telecommunications device for the deaf (TDD), you may 
call

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the Federal Relay Service (FRS) at 1-800-877-8339.
    Individuals with disabilities may obtain this document in an 
alternative format (e.g., Braille, large print, audiotape, or computer 
diskette) on request to the program contact person listed under FOR 
FURTHER INFORMATION CONTACT.

Electronic Access to This Document

    You may view this document, as well as all other documents of this 
Department published in the Federal Register, in text or Adobe Portable 
Document Format (PDF) on the Internet at the following site: 
www.ed.gov/news/fedregister.
    To use PDF you must have Adobe Acrobat Reader, which is available 
free at this site. If you have questions about using PDF, call the U.S. 
Government Printing Office (GPO), toll free, at 1-888-293-6498; or in 
the Washington, DC, area at (202) 512-1530.
    You may also view this document in PDF at the following site: 
www.ifap.ed.gov.

    Note: The official version of this document is the document 
published in the Federal Register. Free Internet access to the 
official edition of the Federal Register and the Code of Federal 
Regulations is available on GPO Access at: www.gpoaccess.gov/nara/index.html.


    Program Authority: 20 U.S.C. 1070a, 1070a-1, 1070b-1070b-4, 
1070c-1070c-4, 1071-1087-2, 1087a-1087j, and 1087aa-1087ii; 42 
U.S.C. 2751-2756b.

Theresa S. Shaw,
Chief Operating Officer, Federal Student Aid.
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 [FR Doc. E7-8576 Filed 5-3-07; 8:45 am]
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