34 CFR 690.2 - Definitions.
(b) The following definitions are contained in subpart A of the Student Assistance General Provisions, 34 CFR part 668:
(c) Other terms used in this part are:
Annual award: The Federal Pell Grant award amount a full-time student would receive under the Payment Schedule for a full academic year in an award year, and the amount a three-quarter-time, half-time, and less-than-half-time student would receive under the appropriate Disbursement Schedule for being enrolled in that enrollment status for a full academic year in an award year.
Central processor: An organization under contract with the Secretary that calculates an applicant's expected family contribution based on the applicant's application information, transmits an ISIR to each institution designated by the applicant, and submits reports to the Secretary on the correctness of its computations of the expected family contribution amounts and the accuracy of the answers to questions on application forms for the previous award year cycle.
Disbursement Schedule: A table showing the annual awards that three-quarter, half-time, and less-than-half-time students at term-based institutions using credit hours would receive for an academic year. This table is published annually by the Secretary and is based on -
(1) A student's expected family contribution, as determined in accordance with title IV, part F of the HEA; and
(2) A student's attendance costs as defined in title IV, part F of the HEA.
(3) The amount of funds available for making Federal Pell Grants.
Electronic Data Exchange: An electronic exchange system between the central processor and an institution under which -
(1) A student is able to transmit his or her application information to the central processor through his or her institution and an ISIR is transmitted back to the institution;
(2) A student through his or her institution is able to transmit any changes in application information to the central processor; and
(3) An institution is able to receive an ISIR from the central processor for a student.
Eligible student: An eligible student as described in 34 CFR part 668, subpart C.
Enrollment status: Full-time, three-quarter-time, half-time, or less-than-half-time depending on a student's credit-hour work load per academic term at an institution using semesters, trimesters, quarters, or other academic terms and measuring progress by credit hours.
Institution of higher education (Institution). An institution of higher education, or a proprietary institution of higher education, or a postsecondary vocational institution as defined in 34 CFR part 600.
Payment Data: An electronic record that is provided to the Secretary by an institution showing student disbursement information.
Payment Schedule: A table showing a full-time student's Scheduled Federal Pell Grant for an academic year. This table, published annually by the Secretary, is based on -
(1) The student's EFC; and
(2) The student's cost of attendance as defined in part F of title IV of the HEA.
Scheduled Federal Pell Grant: The amount of a Federal Pell Grant which would be paid to a full-time student for a full academic year.