Estimated Financial Assistance [Education] Law and Legal Definition
According to 34 CFR 682.200-b( [Title 34 – Education; Subtitle B -- Regulations of the Offices of the Department of Education; Chapter VI -- Office of Postsecondary Education, Department of Education; Part 682 -- Federal Family Education Loan (FFEL)Program; Subpart B -- General Provisions], the term estimated financial assistance means
“(1) The estimated amount of assistance for a period of enrollment that a student (or a parent on behalf of a student will receive from Federal, State, institutional, or other sources, such as, scholarships, grants, the net earnings from need-based employment, or loans, including but not limited to --
(i) Except as provided in paragraph (2)(iii)of this definition, national service education awards or post-service benefits under title I of the National and Community Service Act of 1990 AmeriCorps;
(ii)Except as provided in paragraph (2)(vii) of this definition, veterans' education benefits;
(iii) Any educational benefits paid because of enrollment in a postsecondary education institution, or to cover postsecondary education expenses;
(iv) Fellowships or assistantships, except non-need-based employment portions of such awards;
(v) Insurance programs for the student's education; and
(vi) The estimated amount of other Federal student financial aid, including but not limited to a Federal Pell Grant, Academic Competitiveness Grant, National SMART Grant, campus-based aid, and the gross amount (including fees) of subsidized and unsubsidized Federal Stafford Loans or subsidized and unsubsidized Federal Direct Stafford/Ford Loans, and Federal PLUS or Federal Direct PLUS Loans.
(2) Estimated financial assistance does not include –
(i) Those amounts used to replace the expected family contribution, including the amounts of any TEACH Grant, unsubsidized Federal Stafford or Federal Direct Stafford/Ford Loans, Federal PLUS or Federal Direct PLUS Loans, and non-federal non-need-based loans, including private, state-sponsored, and institutional loans. However, if the sum of the amounts received that are being used to replace the student's EFC exceed the EFC, the excess amount must be treated as estimated financial assistance;
(ii) Federal Perkins loan and Federal Work-Study funds that the student has declined;
(iii) For the purpose of determining eligibility for a subsidized Stafford loan, national service education awards or post-service benefits under title I of the National and Community Service Act of 1990 (AmeriCorps);
(iv) Any portion of the estimated financial assistance described in paragraph (1) of this definition that is included in the calculation of the student's expected family contribution (EFC);
(v) Non-need-based employment earnings;
(vi) Assistance not received under a title IV, HEA program, if that assistance is designated to offset all or a portion of a specific amount of the cost of attendance and that component is excluded from the cost of attendance as well. If that assistance is excluded from either estimated financial assistance or cost of attendance, it must be excluded from both;
(vii) Federal veterans' education benefits paid under --
(A) Chapter 103 of title 10, United States Code (Senior Reserve Officers' Training Corps;
(B) Chapter 106A of title 10, United States Code (Educational Assistance for Persons Enlisting for Active Duty;
(C) Chapter 1606 of title 10, United States Code (Selected Reserve Educational Assistance Program;
(D) Chapter 1607 of title 10, United States Code (Educational Assistance Program for Reserve Component Members Supporting Contingency Operations and Certain Other Operations;
(E) Chapter 30 of title 38, United States Code (All-Volunteer Force Educational Assistance Program, also known as the "Montgomery GI Bill -- active duty";
(F) Chapter 31 of title 38, United States Code (Training and Rehabilitation for Veterans with Service-Connected Disabilities);
(G) Chapter 32 of title 38, United States Code (Post-Vietnam Era Veterans' Educational Assistance Program);
(H) Chapter 33 of title 38, United States Code (Post 9/11 Educational Assistance);
(I) Chapter 35 of title 38, United States Code (Survivors' and Dependents' Educational Assistance Program);
(J) Section 903 of the Department of Defense Authorization Act, 1981 (10 U.S.C. 2141 note) (Educational Assistance Pilot Program);
(K) Section 156(b) of the "Joint Resolution making further continuing appropriations and providing for productive employment for the fiscal year 1983, and for other purposes" (42 U.S.C. 402 note) (Restored Entitlement Program for Survivors, also known as "Quayle benefits");
(L) The provisions of chapter 3 of title 37, United States Code, related to subsistence allowances for members of the Reserve Officers Training Corps; and
(M) Any program that the Secretary may determine is covered by section 480(c)(2) of the HEA; and
(viii) Iraq and Afghanistan Service Grants made under section 420R of the HEA.
Legal Definition list
- Estimated Financial Assistance [Education]
- Estimated Fair Market Value
- Estimated City MPG
- Esthetics
- Esteybar Motion
- Estimated Highway MPG
- Estimated In-use Fuel Economy Range
- Estimated Initial Investment
- Estimated Tax
- Estimated Useful Life [Economic Development Administration, Department of Commerce]
- Estimation Inspection
Related Legal Terms
- 504 Plan [Education]
- Abrogation [Education]
- Academic Competitiveness Grant (ACG) Program [Education]
- Academic Department [Education]
- Academic Field [Education]
- Academy of Financial Divorce Practitioners
- Accreditation (Education)
- Accredited Educational Institution
- Accrediting Agency [Education]
- ACG Scheduled Award [Education]
