[Code of Federal Regulations]
[Title 34, Volume 3]
[Revised as of July 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 34CFR691.62]

[Page 917]
 
                           TITLE 34--EDUCATION
 
 CHAPTER VI--OFFICE OF POSTSECONDARY EDUCATION, DEPARTMENT OF EDUCATION
 
PART 691_ACADEMIC COMPETITIVENESS GRANT (ACG) AND NATIONAL SCIENCE AND 
 
                    Subpart F_Determination of Awards
 
Sec. 691.62  Calculation of a grant.

    (a)(1) For each award year, the Secretary establishes and announces 
the ACG and National SMART Grant Scheduled Awards depending on the 
availability of funds for all students who are eligible for a grant 
under Sec. 691.15.
    (2) The Secretary may revise the ACG and National SMART Grant 
Scheduled Awards in an award year depending on the availability of funds 
for all students who are eligible for a grant under Sec. 691.15.
    (b)(1) The maximum ACG Scheduled Award for an eligible student may 
be up to--
    (i) $750 for the first academic year of the student's eligible 
program; and
    (ii) $1,300 for the second academic year of the student's eligible 
program.
    (2) The maximum National SMART Grant Scheduled Award for an eligible 
student may be up to $4,000 for each of the third and fourth academic 
years of the student's eligible program.
    (c) The amount of a student's grant under this part for an academic 
year, in combination with the student's EFC and other student financial 
assistance available to the student, including the student's Federal 
Pell Grant, may not exceed the student's cost of attendance. Other 
student financial assistance is estimated financial assistance as 
defined in 34 CFR 673.5(c).

(Authority: 20 U.S.C. 1070a-1)

[71 FR 38004, July 3, 2006, as amended at 71 FR 64419, Nov. 1, 2006]