Students apply at student aid office of school of their choice for assistance in applying for a loan. The school then tabulates requests for funds based on estimated needs of students. Application forms distributed to eligible schools and must be returned to the Central Office by date specified in application materials. This program is subject to the provisions of OMB Circular No. A-110 . The Notice of Award is sent to the School's Contact Person notifying the school of the amount of Federal funds allocated for loans prior to the beginning of the academic year in which the award is to be utilized.
Student is notified by student aid office of approval or disapproval at times determined by schools.
Applications are required for new schools. Applications will be reviewed for completeness, accuracy, and to determine if applicant schools meet minimum program requirements. First awards were made in September 1991. In fiscal year 1999, support was provided to 2,300 students. In fiscal year 2000, support was provided to 2,600 students.