FSEOG

According to an accompanying letter outlining the proposed bill--which mostly aligns with the proposals laid out in President Bush's budget proposal for fiscal year 2006, unveiled in early 2005--the measure would revise the base guarantee for Federal Work-Study and the Federal Supplemental Educational Opportunity Grant, in an effort to direct campus-based funds to the neediest students.

* If a borrower defaults on a student loan, he or she should visit www.ed.gov/offices/OSFAP/DCS/index .html, the Federal Student Aid Collections Website, for tips on Federal Family Education Loans, Direct Loans, Federal Perkins Loans, Federal Pell Grants, and Federal Supplemental Educational Opportunity Grants.

* Provide funding at the current levels for Federal Supplemental Educational Opportunity Grants (FSEOG), and Federal Work-Study.

The Senate committee approved $804.8 million for Federal Supplemental Educational Opportunity Grants, while the House approved only the fiscal year 2005 figure of $772.7 million.

The tables most directly affect Pell Grants, but also change the calculations for other federal support for students, including Perkins Loans, Work-Study, Federal Supplemental Educational Opportunity Grants, Federal Family Education Loans and Direct Loans.