Maintained for Historical Purposes

This resource is being maintained for historical purposes only and is not currently applicable.

Student Financial Aid Programs

PublicationDate: 7/1/95
ChapterNumber: 1
ChapterTitle: Student Financial Aid Programs
SectionNumber: 1
SectionTitle: Title IV of the Higher Education Act of 1965
PageNumbers: 7

((Executive Summary))
This chapter provides an overview of federally funded student
financial aid programs. The chapter begins with a discussion of Title
IV of the Higher Education Act, the legislation that created many of
these federal programs. The chapter also discusses an institutional
fiscal year and explains the terms "academic year" and "award year."

((Key Terms))
academic year
award year
campus-based programs
Code of Federal Regulations (CFR)
delivery system
Expected Family Contribution (EFC)
federal master calendar
Federal Pell Grant Program
Federal Register
Free Application for Federal Student Aid (FAFSA)
gift aid
Higher Education Act (HEA)
self-help aid
Title IV programs

1.1 Title IV of the Higher Education Act of 1965

Title IV of the Higher Education Act of 1965, as amended (HEA),
authorizes the Federal Pell Grant, William D. Ford Federal Direct
Loan, Federal Family Education Loan (FFEL), Federal Supplemental
Educational Opportunity Grant (FSEOG), Federal Work-Study
(FWS), and Federal Perkins Loan Programs, which are collectively
known as Title IV programs. These programs are administered by
the U.S. Department of Education (ED) and provide financial
assistance to eligible students enrolled in eligible postsecondary
programs of study. Title IV programs are governed both by law (the
HEA) and by regulations that ED implements.

((Reauthorizing/ amending the Higher Education Act))
Approximately every six years, Congress reviews the Title IV
programs to ensure that they are serving the purposes for which they
were intended. After reviewing the programs, Congress decides
whether to reauthorize them (that is, allow the programs to continue)
and, if so, what changes should be made to ensure that the programs
continue to serve students properly and efficiently. Congress makes
any necessary changes through amendments to the HEA. However,
aspects of Title IV programs can be changed at any time through
amendments or through changes ED makes in regulations. It is
important to note that Title IV regulations SUPPLEMENT the HEA
and cannot supersede any part of the law.

((Title 34 of the CFR))
Regulations affecting Title IV programs are contained in Title 34 of
the Code of Federal Regulations (CFR). The sections of Title 34 that
most frequently affect a school's administration of federal financial
aid programs are found in Part 600 to the end. When regulations are
issued, they are published in the Federal Register and distributed to
postsecondary schools.

Last Modified: 06/30/1995