Office of Vocational and Adult Education; Overview Information; Financial Education for College Access and Success Program; Notice Inviting Applications for New Awards for Fiscal Year (FY) 2010, 43502-43510 [2010-18253]

Agencies

• DEPARTMENT OF EDUCATION

[Federal Register Volume 75, Number 142 (Monday, July 26, 2010)]
[Notices]
[Pages 43502-43510]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-18253]


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DEPARTMENT OF EDUCATION


Office of Vocational and Adult Education; Overview Information; 
Financial Education for College Access and Success Program; Notice 
Inviting Applications for New Awards for Fiscal Year (FY) 2010

Catalog of Federal Domestic Assistance (CFDA) Number: 84.215W.

    Dates: Applications Available: July 26, 2010.
    Deadline for Notice of Intent to Apply: August 5, 2010.
    Deadline for Transmittal of Applications: September 9, 2010.

Full Text of Announcement

I. Funding Opportunity Description

    Purpose of Program: The Financial Education for College Access and 
Success program is authorized under the Fund for the Improvement of 
Education Program (FIE), title V, part D, subpart 1, sections 5411 
through 5413 of the Elementary and Secondary Education Act of 1965, as 
amended (ESEA) (20 U.S.C. 7243-7243b). FIE supports nationally 
significant programs to improve the quality of elementary and secondary 
education at the State and local levels and help all children meet 
challenging State academic content and student academic achievement 
standards. Through the Financial Education for College Access and 
Success Program, we will support State-led efforts to develop, 
implement, and evaluate the effectiveness of personal finance 
instructional materials and corresponding teacher training, with the 
express purpose of providing high school students with knowledge and 
skills to make sound financial aid and other personal finance 
decisions, particularly in relation to obtaining access to, persisting 
in, and completing postsecondary education.
    Background: President Barack Obama, in his February 24, 2009 
address to a Joint Session of Congress, asked every American to commit 
to at least one year or more of higher education or career training, in 
a community college, in a four-year postsecondary institution, through 
career and technical education courses, or in an apprenticeship. 
President Obama stated that ``This country needs and values the talents 
of every American'', and set a new goal that by 2020, the United States 
of America would once again have the highest proportion of college 
graduates in the world.
    One of the barriers to achieving this goal is the lack of financial 
literacy in America, especially among youth. Studies indicate that many 
Americans do not have the skills they need to make sound financial 
decisions, including decisions about postsecondary education, for 
themselves or their families. For example--
    (1) Debt literacy--an understanding of how borrowing money works 
and the ability to perform related calculations--is low across age 
groups, and this has been found to correlate with making unfavorable 
borrowing choices; \1\
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    \1\ Lusardi, Annamaria, and Tufano, Peter. ``Debt Literacy, 
Financial Experience, and Overindebtedness.'' Preliminary Draft, 
2008.

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[[Page 43503]]

    (2) High school students generally have low levels of financial 
literacy across a variety of topics according to their results on 
personal finance exams; \2\
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    \2\ Mandell, Lewis ``Results of the 2008 National Jump$tart 
Coalition: Survey of College Seniors and College Students,'' 
Jump$tart Coalition[supreg] for Personal Literacy, 2008.
    The National Financial Capability Challenge at, https://www.challenge.treas.gov.
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    (3) Families often overestimate the price of college and believe it 
is out of their financial reach, perhaps confusing advertised and 
actual prices; \3\
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    \3\ Getting Ready to Pay for College: What Students and Their 
Parents Know About the Cost of College Tuition and What They Are 
Doing to Find Out U.S., Department of Education, National Center for 
Educational Statistics, 2003.
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    (4) Nearly two million low- and moderate-income undergraduates do 
not submit a Free Application for Federal Student Aid (FAFSA) to apply 
for Federal financial aid, even though many of them are eligible for 
Pell Grants, which they would not have to repay; \4\ and
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    \4\ American Council on Education. Missed Opportunities Revised: 
New Information on Students Who Do Not Apply for Financial Aid. 
Issue Brief, February 2006.
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    (5) A 2009 report by The Institute for College Access and Success 
found that 64 percent of students who took on costly private loans had 
not yet exhausted their eligibility for more flexible and affordable 
Federal loans.\5\
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    \5\ The Project on Student Debt: An Initiative for College 
Access and Success. Private Loans: Facts and Trends, Aug. 2009.
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    Together, these problems have major consequences for students. Only 
31 percent of students from low-income families attend some form of 
postsecondary education, as compared to 56 percent of students from 
middle-income families and 75 percent of students from high-income 
families.\6\ Once students enroll in postsecondary education, one of 
the primary reasons they drop out of college is because they lack the 
financial resources to continue.\7\ And students who do graduate from 
college finish with more and more accumulated credit card and student 
loan debt each year.\8\
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    \6\ Institute for Higher Education Policy, Cost Perceptions and 
College-Going for Low-Income Students. Research Policy Brief, Spring 
2010.
    \7\ Johnson, Jean, and Rochkind, Jon. ``With Their Whole Lives 
Ahead of Them: Myths and Realities About Why So Many Students Fail 
to Finish College.'' A Public Agenda Report for the Bill and Melinda 
Gates Foundation, 2009.
    \8\ SallieMae Champions for Higher Education. How Undergraduate 
Students Use Credit Cards: Sallie Mae's National Study of Usage 
Rates and Trends 2009. 2009.
    The Project on Student Debt: An Initiative for College Access 
and Success. Student Debt and the Class of 2008. 2009.
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    Research has also shown that students appear to receive limited 
support from counselors and teachers in the area of personal finance 
decision-making. A Public Agenda survey of young adults found that they 
give very low marks to guidance counselors when it comes to preparing 
them to make decisions about college.\9\ A national survey of teachers 
conducted by the University of Wisconsin found that teachers are 
overwhelmingly underprepared to teach personal finance to their 
students.\10\ In the teacher study, 64 percent of teachers responding 
to the survey said they felt unqualified to utilize their State's 
personal finance standards. When asked about professional development 
needs, the teachers listed financial education subject matter and 
pedagogy, ways to integrate financial concepts throughout multiple 
disciplines, and how to use the State standards as those areas in which 
further professional development was needed.
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    \9\ Johnson, Jean, and Rochkind, Jon. ``With Their Whole Lives 
Ahead of Them: Myths and Realities About Why So Many Students Fail 
to Finish College.'' A Public Agenda Report for the Bill and Melinda 
Gates Foundation, 2009.
    \10\ Way, Wendy L, and Holden, Karen. ``Teachers' Background and 
Capacity to Teach Personal Finance: Results of a National Study.'' 
National Endowment for Financial Education, 2010.
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    Even though there have been a number of financial literacy efforts 
initiated across the country, and notwithstanding the growing focus on 
improving awareness and delivery of student financial aid, too few 
financial literacy initiatives prepare teachers to provide students 
with financial decision-making skills that lead to college access and 
success. Therefore, the Secretary is establishing an absolute priority 
and associated requirements for applications that propose to develop, 
implement, and evaluate personal finance instructional materials and 
corresponding teacher training toward that end.
    While the Secretary recognizes, as do many teachers, that students 
should begin learning about personal finance and the benefits of 
postsecondary education in early elementary grades, this program 
focuses on high school students because high school is a time when most 
students make critical decisions related to postsecondary 
education.\11\
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    \11\ Otter, Dan. ``Teacher Attitudes and Beliefs About Teaching 
Financial Literacy.'' Pollinate, the Teacher Financial Literacy 
Project, 2010.
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    The Secretary additionally recognizes that, to be most successful, 
this effort to improve students' financial literacy must leverage other 
resources to ensure effective implementation and continuous 
improvement. For this reason, the Secretary is establishing a 
competitive preference priority for States that propose to provide 
funds or in-kind contributions to support the project through existing 
State and local resources, or funding from philanthropic organizations 
or private sector sources.
    Priorities: We are establishing these priorities for the FY 2010 
grant competition, and any subsequent year in which we make awards from 
the list of unfunded applicants from this competition, in accordance 
with section 437(d)(1) of the General Education Provisions Act (GEPA), 
20 U.S.C. 1232(d)(1).
    Absolute Priority: Under 34 CFR 75.105(c)(3) we consider only 
applications that meet this priority.
    This priority is:
    Absolute Priority--Financial Education for College Access and 
Success Program.
    Under this priority, the Department provides funding to support 
projects that are designed to develop, implement, and evaluate (1) 
personal finance instructional materials that focus on knowledge and 
skills to help high school students in high-need LEAs make sound 
financial decisions regarding student financial aid and other financial 
matters in order to obtain access to, persist in, and complete 
postsecondary education; and (2) training that prepares teachers to 
integrate the instructional materials in one or more high school 
courses (e.g., career and technical education (CTE) courses, social 
studies, economics, mathematics, personal finance).
    Competitive Preference Priority: This priority is a competitive 
preference priority. Under 34 CFR 75.105(c)(2)(i) we award up to an 
additional 5 points to a State, depending on how well the State's 
application meets this priority.
    This priority is:
    Competitive Preference Priority--Commitment of Additional Funding 
to the Project.
    We give competitive preference to applications where States propose 
to provide funds or in-kind contributions to support the project 
through existing State and local resources, or funding from 
philanthropic organizations or private sector sources (See 34 CFR 80.24 
for information on cost sharing and third party in-kind contributions). 
For each 10 percent of the State's proposed budget that will be 
contributed from such other sources, up to a maximum of 50 percent, 1 
point will be awarded, up to a maximum of 5 points. Non-Federal 
contributions may include in-kind contributions such as facilities, 
equipment, supplies, services, and other resources.

[[Page 43504]]

    Invitational Priority: This priority is an invitational priority. 
Under 34 CFR 75.105(c)(1) we do not give an application that meets this 
invitational priority a competitive or absolute preference over other 
applications.
    This priority is:
    Invitational Priority--Service-learning.
    The Department is interested in applications from States that 
include the use of service-learning as an approach in support of its 
project, such as college students engaging with high school students, 
or high school students engaging with elementary school students, on 
the topics covered by this notice.
    Application Requirements: We are establishing these application 
requirements for the FY 2010 grant competition, and any subsequent year 
in which we make awards from the list of unfunded applicants from this 
competition, in accordance with section 437(d)(1) of GEPA, 20 U.S.C. 
1232(d)(1).
    (a) To be considered for funding under the Financial Education for 
College Access and Success program, a State must meet the absolute 
priority and the requirements specified in the priority; and 
demonstrate that its proposed project will improve the ability of high 
school students to make sound financial decisions regarding student 
financial aid and other financial matters in order to obtain access to, 
persist in, and complete postsecondary education.
    (b) The State's application must describe a plan for the entire 4-
year project period, including goals and objectives for each year of 
the project. To this end, the State must demonstrate, in the narrative 
section of the application, how it would meet the following 
requirements.
    Development and implementation of instructional materials.
    The State must demonstrate how--
    (a) The personal finance instructional materials will be developed 
as open education resources, which are teaching, learning, and research 
resources that reside in the public domain or have been released under 
an intellectual property license that permits their free use or 
repurposing by others, designed to be--
    (1) Multi-unit, portable instructional materials that can be 
implemented as stand-alone units, integrated into one or more high 
school courses, and, to the extent feasible and appropriate, integrated 
to form a comprehensive personal finance curriculum that covers a 
variety of college-related personal finance topics;
    (2) Interactive and experiential (i.e., activity-focused, not 
primarily lecture-focused, including the use of real documents when 
possible and connecting with social networking opportunities and 
interfaces), and enable personalization for each student;
    (3) Based on research on effective instructional design that is 
informed by relevant areas of economic research, including the 
psychology of decision-making and behavioral economics;
    (4) Designed to incorporate online components; and
    (5) Updated regularly, with input from teachers and other 
stakeholders involved in this project, to keep pace with changes in 
student financial aid information and with online and mobile 
technologies, such as online banking, electronic credit reports, and 
mobile budgeting alerts;
    (b) The instructional materials will be developed to--
    (1) Promote the basic numeracy and number sense skills students 
need to make sound financial decisions, including, but not limited to--
    (i) Proportional reasoning;
    (ii) Interest rates, charges, and compounding;
    (iii) Inflation; and
    (iv) The comparison of costs for different financial products and 
services;
    (2) Align with the appropriate State standards, including the 
State's mathematics and personal finance standards;
    (3) At a minimum, cover--
    (i) Federal student aid, including the role of the FAFSA; the types 
of aid available, including grants, loans, and work-study; Federal loan 
repayment options, such as income-based repayment and public service 
loan forgiveness; and a comparison of Federal student aid and other 
college financing options, such as credit cards and private loans, and 
Federal grants and work-study;
    (ii) Scholarships;
    (iii) Credit products, including--
    (A) Credit cards and debit cards, and proper handling of these 
cards to avoid bad credit; and
    (B) Credit scores and credit reports as they relate to borrowing 
ability and borrowing costs, insurability, and employability;
    (iv) Financial institutions, services, and products available to 
students and the risks and costs associated with them, including--
    (A) Banks and credit unions and the proper handling of accounts to 
avoid fees or being denied access to accounts; and
    (B) Alternative financial services, such as payday lenders and 
check-cashing services, and the fees associated with these services;
    (v) The costs and benefits of postsecondary education, including--
    (A) The advertised price versus net price and the role of State and 
institutional financial aid;
    (B) Projected earnings for different careers, with and without 
postsecondary education; and
    (C) Projected debt and related interest costs for different 
postsecondary programs at various institutions;
    (vi) United States Department of Veterans Affairs Education 
Benefits;
    (vii) Segal AmeriCorps Education Awards;
    (viii) Student and family contributions to education expenses from 
income and savings; and
    (ix) Taxes, including Federal and State income tax returns;
    (c) The State will make use of available materials and other 
resources from the Federal government, States, national organizations, 
or other sources, as appropriate; and best practices in developing, 
disseminating, and promoting use of open education resources, including 
optimal licensing arrangements, that would be used to inform the 
development and use of the instructional materials;
    (d) The State will design project activities and identify 
participant schools in a way that takes into account and leverages 
other courses and programs that provide financial literacy and related 
instruction (such as TRIO Talent Search, TRIO Upward Bound, GEAR-UP, 
and College Access Challenge Grants). In addition, where available, the 
State should provide information on whether secondary schools and LEAs 
in the State will be participating in the FAFSA completion project 
(https://www2.ed.gov/finaid/info/apply/fafsa-project.html) to identify 
students who have not completed a FAFSA, in order to better target 
assistance, and describe how this information will be used when 
identifying participant schools and conducting the required project 
evaluation described elsewhere in this notice;
    (e) The State will identify or develop interim and summative 
assessments that produce valid and reliable information on student 
progress in the mastery of the content included in the proposed 
personal finance instructional materials and could be used for the 
program evaluation; and
    (f) The State will--
    (1) Identify one or more high school courses into which the 
proposed instructional materials are intended and proposed to be 
integrated. The primary

[[Page 43505]]

venue for the instructional materials must be high school classrooms. 
However, States may propose to implement the instructional materials in 
additional settings, such as after-school programs, and student 
financial aid workshops;
    (2) Ensure that the proposed instructional materials in the 
selected school courses will be of sufficient duration and offered to a 
sufficient number of students attending schools in high-need LEAs to 
determine the effectiveness of the project and include in the 
application an estimate of the number of students expected to enroll in 
the selected school courses in each participating high-need LEA and the 
number of teachers who would be teaching students in the selected 
courses. For the purposes of this competition, we are using the 
definition of high-need LEA used in section 14013 of the American 
Recovery and Reinvestment Act of 2009 (ARRA), which is an LEA (a) that 
serves not fewer than 10,000 children from families with incomes below 
the poverty line; or (b) for which not less than 20 percent of the 
children served by the LEA are from families with incomes below the 
poverty line; and
    (3) Identify two or more high-need LEAs in which the instructional 
materials would be implemented, beginning in year 2, and include a list 
of these high-need LEAs in its application. By the end of year 1, and 
continuing each year for years 2 through 4 of the project, the grantee 
must obtain written commitment from each participating LEA, or a school 
within an LEA if the entire LEA will not participate, that will 
implement the instructional materials.
    Teacher training on personal finance instructional materials.
    The State must demonstrate how--
    (a) The personal finance training provided to high school teachers 
who would be teaching the personal finance instructional materials to 
students is of sufficient quality, intensity, and duration to lead to 
improvements in practice among the teachers that receive the training, 
and include in the application an estimated number of teachers to be 
trained each year during the project period;
    (b) Training, ongoing support, and technical assistance will be 
provided to teachers and LEAs within the State, such as providing 
opportunities for collaboration among teachers, using a train-the-
trainer model whereby teachers train other teachers, and using distance 
learning components, such as interactive television; and
    (c) The State will provide incentives for high school teacher 
participation in personal finance training, such as by providing 
participating teachers with stipends, graduate degree credit, or 
Continuing Education Units for participating in the training. The 
primary audience for the training must be high school teachers. 
However, in furtherance of project goals and purposes, States may also 
propose to provide personal finance training to individuals other than 
high school teachers, including, but not limited to, guidance 
counselors and after-school program staff.
    Project Team.
    The State must--
    (a) Demonstrate that the project team proposed by the State that 
will work with the State to carry out the project--
    (1) Has experience and expertise in each of the following areas--
    (i) Instructional materials development;
    (ii) Teacher training;
    (iii) Program evaluation;
    (iv) Financial literacy;
    (v) Financial aid;
    (vi) Student debt; and
    (vii) College access and success programs;
    (2) Includes individuals who represent the needs of or work with 
students in high-need LEAs;
    (3) Includes representatives from--
    (i) State agencies administering elementary and secondary 
education, career and technical education (CTE), and postsecondary 
education (both two- and four-year institutions);
    (ii) State agencies, commissions, or other entities focused 
explicitly on financial literacy, college access, or student financial 
aid issues (e.g., Treasurer, Comptroller, Department of Banking, 
Corporation for National and Community Service State Office and 
Commission, the State agency that administers the College Access 
Challenge Grant Program); and, at the discretion of the State,
    (iii) Institutions of higher education (IHEs), including professors 
or financial aid administrators;
    (iv) LEAs (including high-need LEAs), including superintendents, 
principals, and teachers; and
    (v) Non-profit organizations, companies, or philanthropic 
organizations; and
    (b) Include in its application--
    (1) The title and position description of each confirmed and 
potential member of the project team, including the project director, 
principal investigator, and other key project personnel;
    (2) A description of the roles and responsibilities of each member;
    (3) A description of how the project team will function, including 
how the project team will elicit ongoing input from stakeholders and 
develop a collaborative network of stakeholders to ensure the 
continuing success of the project;
    (4) When and how often the team will meet; and
    (5) A resume for each of the confirmed members of the project team 
(as an attachment or appendix to the application).
    State's existing financial literacy activities.
    The State must describe--
    (a) The State's existing financial literacy education requirements, 
including the State's personal finance standards and current State 
requirements for their implementation at the LEA level; and
    (b) The State's existing K-12 State efforts related to financial 
literacy education activities and college access and success, such as--
    (1) Teacher training, curriculum, and assessment development;
    (2) High school courses, or course components;
    (3) Extracurricular programs, such as college readiness and student 
financial aid training; and
    (4) The collection of assessment data on student outcomes for 
students enrolled in those courses or programs.
    Project evaluation.
    The State must demonstrate that--
    (a) The State will have a comprehensive plan for evaluating the 
effectiveness of the project in preparing high school students with 
knowledge and skills to make sound financial decisions regarding 
student financial aid and other financial matters in order to obtain 
access to, persist in, and complete postsecondary education; and for 
evaluating whether the training provided to teachers adequately 
prepared them to integrate the personal finance instructional materials 
into courses and effectively instruct students using the instructional 
materials. To this end, the State, in its application, must--
    (1) Propose an evaluation design that will assess the effects of 
the project on participant outcomes. Where feasible, applicants must 
propose an experimental or quasi-experimental evaluation design for the 
project that will allow an accurate assessment of the effect of the 
project on participating students and teachers relative to appropriate 
comparison or control groups. The design should take into account the 
participation in other courses and programs (such as TRIO Talent 
Search, TRIO Upward Bound, GEAR UP, and College Access Challenge

[[Page 43506]]

Grants) that provide students with financial literacy and related 
instruction. At a minimum, the design must assess the effects of the 
project on participant outcomes by administering a pre-test and 
multiple post-tests.
    (2) Describe the State's proposed sampling plans, data collection 
methodology (including any plans to use information available through 
State longitudinal data systems), methodology for identifying 
appropriate control or comparison groups, strategies for dealing with 
missing data, assessment instruments, and data analysis plans in 
sufficient detail to allow reviewers of applications to judge the 
appropriateness of the proposed methods; and
    (b) The State's project evaluation plan must, at a minimum, include 
plans to--
    (1) Measure the effect of the project on students' knowledge and 
behaviors, including rates of FAFSA completion (the Department will 
assist entities that participate in the FAFSA completion project with 
tracking FAFSA completion, and hopes to expand this program in the 
future), college enrollment, decisions regarding financial aid, and use 
of financial products and services; the evaluation plan may also 
measure the effect of the program on participating students' attitudes;
    (2) Measure the effect of the project on the knowledge, attitudes, 
and instructional skills of participating teachers;
    (3) Annually examine project performance by comparing actual 
accomplishments with the goals and objectives established for each 
project year;
    (4) Describe how data will be used to manage project 
implementation, inform decision-making, engage stakeholders, and 
measure success; and
    (5) Ensure that the use of data will be consistent with the 
requirements and protections contained in the Family Educational Rights 
and Privacy Act (FERPA).
    Dissemination.
    The State must demonstrate that it will work closely with the 
Department to disseminate and promote the use of personal finance 
instructional materials and teacher training materials found to be 
effective, including implementing strategies to:
    (a) Make materials widely available and accessible to LEAs within 
the State--
    (i) Through open education resource repositories, Web sites, and 
other mechanisms, so others can use and customize the materials, such 
as having them translated into multiple languages, and for use in 
multiple settings; and
    (ii) At low or no cost to participating LEAs for hard-copy 
materials, and at no cost for online components;
    (b) Make available to other States through open education resource 
repositories, Web sites, and other mechanisms, its personal finance 
instructional materials, teacher training materials, and other 
practical information about the project that would be useful to other 
States in their efforts to implement financial literacy programs; and
    (c) Ensure that all project materials available to States, LEAs, 
teachers, and, if appropriate, students will be accessible to 
individuals with disabilities consistent with the requirements and 
protections contained in Section 504 of the Rehabilitation Act of 1973, 
as amended.
    Waiver of Proposed Rulemaking: Under the Administrative Procedure 
Act (5 U.S.C. 553), the Department generally offers interested parties 
the opportunity to comment on proposed priorities, definitions, and 
requirements. Section 437(d)(1) of GEPA, however, allows the Secretary 
to exempt from rulemaking requirements regulations governing the first 
grant competition under a new or substantially revised program 
authority. This is the first grant competition for the Financial 
Education for College Access and Success program and, therefore, 
qualifies for this exemption. In order to ensure timely grant awards, 
the Secretary has decided to forgo public comment on the priorities, 
definitions, and requirements under section 437(d)(1) of GEPA. These 
priorities, definitions, and requirements will apply to the FY 2010 
grant competition and any subsequent year in which we make awards based 
on the list of unfunded applicants from this competition.
    Program Authority: 20 U.S.C. 7243-7243b.
    Applicable Regulations: The Education Department General 
Administrative Regulations (EDGAR) in 34 CFR parts 75, 77, 79, 80, 81, 
82, 84, 85, 86, 97, 98, and 99.

    Note:  The regulations in 34 CFR part 79 apply to all applicants 
except Federally recognized Indian tribes.


    Note:  The regulations in part 86 apply to institutions of 
higher education only.

II. Award Information

    Type of Award: Discretionary grants.
    Estimated Available Funds: $1,700,000.
    Estimated Average Size of Award: $1,700,000.
    Estimated Number of Awards: 1.

    Note:  The Department is not bound by any estimates in this 
notice.

    Project Period: Up to 48 months. Applicants under this competition 
are required to provide detailed budget information for each year of 
the proposed project and for the total grant. The Department will 
negotiate funding levels for each 12-month period of the grant at the 
time of the award.

    Note:  The Secretary has concluded that 4-year awards are 
necessary for the grantee to fulfill the purpose of the Financial 
Education for College Access and Success Program. As outlined in 
this notice, 4-year funding will: (a) Allow the grantee to develop 
the instructional materials and assessments; (b) allow time for the 
instructional materials, teacher training, and assessments to be 
used with a sufficient number of participants to determine their 
effectiveness; and (c) allow the grantee sufficient time to collect 
student and teacher outcome data.

III. Eligibility Information

    1. Eligible Applicants: State educational agencies (SEAs), as 
defined in section 9101(41) of the ESEA, that have included personal 
finance in their State education standards and have included in their 
applications documentation that they have such standards.
    2. Cost Sharing or Matching: This competition does not require cost 
sharing or matching.

IV. Application and Submission Information

    1. Address to Request Application Package: Laura Messenger, U.S. 
Department of Education, 400 Maryland Avenue, SW., room 11028, Potomac 
Center Plaza, Washington, DC 20202-7241. Telephone: (202) 245-7840 or 
by e-mail: laura.messenger@ed.gov.
    If you use a telecommunications device for the deaf (TDD), call the 
Federal Relay Service (FRS), toll free, at 1-800-877-8339.
    Individuals with disabilities can obtain a copy of the application 
package in an accessible format (e.g., braille, large print, audiotape, 
or computer diskette) by contacting the program contact person listed 
in this section.
    2. Content and Form of Application Submission:
    Requirements concerning the content of an application, together 
with the forms you must submit, are in the application package for this 
competition.
    Page Limit: The application narrative (Part III of the application) 
is where you, the applicant, address the selection criteria that 
reviewers use to evaluate your application.
    While you are not required to do so, we strongly suggest that you 
limit the

[[Page 43507]]

application narrative [Part III] to the equivalent of no more than 40 
pages using the following standards:
     A ''page'' is 8.5'' x 11'', on one side only, with 1'' 
margins at the top, bottom, and both sides.
     Double space (no more than three lines per vertical inch) 
all text in the application narrative, including titles, headings, 
footnotes, quotations, references, and captions, as well as all text in 
charts, tables, figures, and graphs.
     Use a font that is either 12 point or larger or no smaller 
than 10 pitch (characters per inch).
     Use one of the following fonts: Times New Roman, Courier, 
Courier New, or Arial. An application submitted in any other font 
(including Times Roman or Arial Narrow) will not be accepted.
    The suggested page limit does not apply to Part I, the cover sheet; 
Part II, the budget section, including the narrative budget 
justification; Part IV, the assurances and certifications; or the one-
page abstract, the resumes, the memorandum of understanding, or the 
match commitment. However, the suggested page limit does apply to all 
of the application narrative section [Part III].
    3. Submission Dates and Times:
    Applications Available: July 26, 2010.
    Deadline for Notice of Intent to Apply: August 5, 2010.
    The Department will be able to develop a more efficient process for 
reviewing grant applications if it has a better understanding of the 
number of entities that intend to apply for funding under this 
competition. Therefore, the Secretary strongly encourages each 
potential applicant to notify the Department by sending a short e-mail 
message indicating the applicant's intent to submit an application for 
funding. The e-mail should include only the applicant's intent to 
submit an application; it does not need to include information 
regarding the content of the proposed application. This e-mail 
notification should be sent no later than August 5, 2010 to Laura 
Messenger at: laura.messenger@ed.gov. You must include ``FinanceEd 
Intent to Apply'' in the subject line of your electronic message. The 
notice of intent to apply is optional. We will consider an application 
submitted by the deadline for transmittal of applications even if the 
applicant did not provide an e-mail notification of its intent to 
apply.
    Deadline for Transmittal of Applications: September 9, 2010.
    Applications for grants under this program must be submitted 
electronically using the Electronic Grant Application System (e-
Application) accessible through the Department's e-Grants site. For 
information (including dates and times) about how to submit your 
application electronically, or in paper format by mail or hand delivery 
if you qualify for an exception to the electronic submission 
requirement, please refer to section IV.7. Other Submission 
Requirements of this notice.
    We do not consider an application that does not comply with the 
deadline requirements.
    Individuals with disabilities who need an accommodation or 
auxiliary aid in connection with the application process should contact 
the person listed under For Further Information Contact in Section VII 
of this notice. If the Department provides an accommodation or 
auxiliary aid to an individual with a disability in connection with the 
application process, the individual's application remains subject to 
all other requirements and limitations in this notice.
    4. Intergovernmental Review: This program is subject to Executive 
Order 12372 and the regulations in 34 CFR part 79. Information about 
Intergovernmental Review of Federal Programs under Executive Order 
12372 is in the application package for this competition.
    5. Funding Restrictions: We reference regulations outlining funding 
restrictions in the Applicable Regulations section of this notice.
    6. Data Universal Numbering System Number, Taxpayer Identification 
Number, and Central Contractor Registry: To do business with the 
Department of Education, (1) you must have a Data Universal Numbering 
System (DUNS) number and a Taxpayer Identification Number (TIN); (2) 
you must register both of those numbers with the Central Contractor 
Registry (CCR), the Government's primary registrant database; and (3) 
you must provide those same numbers on your application.
    You can obtain a DUNS number from Dun and Bradstreet. A DUNS number 
can be created within one business day.
    If you are a corporate entity, agency, institution, or 
organization, you can obtain a TIN from the Internal Revenue Service. 
If you need a new TIN, please allow 2-5 weeks for your TIN to become 
active.
    The CCR registration process may take five or more business days to 
complete. If you are currently registered with the CCR, you may not 
need to make any changes. However, please make certain that the TIN 
associated with your DUNS number is correct. Also note that you will 
need to update your CCR registration on an annual basis. This may take 
three or more business days to complete.
    7. Other Submission Requirements: Applications for grants under 
this competition must be submitted electronically unless you qualify 
for an exception to this requirement in accordance with the 
instructions in this section.
    a. Electronic Submission of Applications.
    Applications for grants under the Financial Education for College 
Access and Success program, CFDA Number 84.215W, must be submitted 
electronically using e-Application, accessible through the Department's 
e-Grants Web site at: https://e-grants.ed.gov.
    We will reject your application if you submit it in paper format 
unless, as described elsewhere in this section, you qualify for one of 
the exceptions to the electronic submission requirement and submit, no 
later than two weeks before the application deadline date, a written 
statement to the Department that you qualify for one of these 
exceptions. Further information regarding calculation of the date that 
is two weeks before the application deadline date is provided later in 
this section under Exception to Electronic Submission Requirement.
    While completing your electronic application, you will be entering 
data online that will be saved into a database. You may not e-mail an 
electronic copy of a grant application to us.
    Please note the following:
     You must complete the electronic submission of your grant 
application by 4:30:00 p.m., Washington, DC time, on the application 
deadline date. E-Application will not accept an application for this 
program after 4:30:00 p.m., Washington, DC time, on the application 
deadline date. Therefore, we strongly recommend that you do not wait 
until the application deadline date to begin the application process.
     The hours of operation of the e-Grants Web site are 6:00 
a.m. Monday until 7:00 p.m. Wednesday; and 6:00 a.m. Thursday until 
8:00 p.m. Sunday, Washington, DC time. Please note that, because of 
maintenance, the system is unavailable between 8:00 p.m. on Sundays and 
6:00 a.m. on Mondays, and between 7:00 p.m. on Wednesdays and 6:00 a.m. 
on Thursdays, Washington, DC time. Any modifications to these hours are 
posted on the e-Grants Web site.

[[Page 43508]]

     You will not receive additional point value because you 
submit your application in electronic format, nor will we penalize you 
if you qualify for an exception to the electronic submission 
requirement, as described elsewhere in this section, and submit your 
application in paper format.
     You must submit all documents electronically, including 
all information you typically provide on the following forms: the 
Application for Federal Assistance (SF 424), the Department of 
Education Supplemental Information for SF 424, the Financial Education 
for College Access and Success Budget Spreadsheet(s), and all necessary 
assurances and certifications. You must attach any narrative sections 
of your application as files in a .DOC (document), .RTF (rich text), or 
.PDF (Portable Document) format. If you upload a file type other than 
the three file types specified in this paragraph or submit a password 
protected file, we will not review that material.
     Your electronic application must comply with any page 
limit requirements described in this notice.
     Prior to submitting your electronic application, you may 
wish to print a copy of it for your records.
     After you electronically submit your application, you will 
receive an automatic acknowledgment that will include a PR/Award number 
(an identifying number unique to your application).
     Within three working days after submitting your electronic 
application, fax a signed copy of the SF 424 to the Application Control 
Center after following these steps:
    (1) Print SF 424 from e-Application.
    (2) The applicant's Authorizing Representative must sign this form.
    (3) Place the PR/Award number in the upper right hand corner of the 
hard-copy signature page of the SF 424.
    (4) Fax the signed SF 424 to the Application Control Center at 
(202) 245-6272.
     We may request that you provide us original signatures on 
other forms at a later date.
    Application Deadline Date Extension in Case of e-Application 
Unavailability: If you are prevented from electronically submitting 
your application on the application deadline date because e-Application 
is unavailable, we will grant you an extension of one business day to 
enable you to transmit your application electronically, by mail, or by 
hand delivery. We will grant this extension if--
    (1) You are a registered user of e-Application, and you have 
initiated an electronic application for this competition; and
    (2)(a) E-Application is unavailable for 60 minutes or more between 
the hours of 8:30 a.m. and 3:30 p.m., Washington, DC time, on the 
application deadline date; or
    (b) E-Application is unavailable for any period of time between 
3:30 p.m. and 4:30:00 p.m., Washington, DC time, on the application 
deadline date.
    We must acknowledge and confirm these periods of unavailability 
before granting you an extension. To request this extension or to 
confirm our acknowledgment of any system unavailability, you may 
contact either (1) the person listed elsewhere in this notice under For 
Further Information Contact (see VII. Agency Contact) or (2) the e-
Grants help desk at 1-888-336-8930. If e-Application is unavailable due 
to technical problems with the system and, therefore, the application 
deadline is extended, an e-mail will be sent to all registered users 
who have initiated an e-Application. Extensions referred to in this 
section apply only to the unavailability of e-Application.
    Exception to Electronic Submission Requirement: You qualify for an 
exception to the electronic submission requirement and may submit your 
application in paper format if you are unable to submit an application 
through e-Application because--
     You do not have access to the Internet; or
     You do not have the capacity to upload large documents to 
e-Application; and
     No later than two weeks before the application deadline 
date (14 calendar days; or, if the fourteenth calendar day before the 
application deadline date falls on a Federal holiday, the next business 
day following the Federal holiday), you mail or fax a written statement 
to the Department, explaining which of the two grounds for an exception 
prevents you from using the Internet to submit your application. If you 
mail your written statement to the Department, it must be postmarked no 
later than two weeks before the application deadline date. If you fax 
your written statement to the Department, we must receive the faxed 
statement no later than two weeks before the application deadline date.
    Address and mail or fax your statement to: Laura Messenger, U.S. 
Department of Education, 400 Maryland Avenue, SW., PCP, room 11028, 
Washington, DC 20006-8524. FAX: (202) 245-7170.
    Your paper application must be submitted in accordance with the 
mail or hand delivery instructions described in this notice.
    b. Submission of Paper Applications by Mail.
    If you submit your application in paper format by mail (through the 
U.S. Postal Service or a commercial carrier), you must mail the 
original and two copies of your application, on or before the 
application deadline date, to the Department at the following address: 
U.S. Department of Education, Application Control Center, Attention: 
(CFDA Number 84.215W), 400 Maryland Avenue, SW., Washington, DC 20202-
4260.
    You must show proof of mailing consisting of one of the following:
    (1) A legibly dated U.S. Postal Service postmark.
    (2) A legible mail receipt with the date of mailing stamped by the 
U.S. Postal Service.
    (3) A dated shipping label, invoice, or receipt from a commercial 
carrier.
    (4) Any other proof of mailing acceptable to the Secretary of the 
U.S. Department of Education.
    If you mail your application through the U.S. Postal Service, we do 
not accept either of the following as proof of mailing:
    (1) A private metered postmark.
    (2) A mail receipt that is not dated by the U.S. Postal Service.
    If your application is postmarked after the application deadline 
date, we will not consider your application.

    Note:  The U.S. Postal Service does not uniformly provide a 
dated postmark. Before relying on this method, you should check with 
your local post office.

    c. Submission of Paper Applications by Hand Delivery.
    If you submit your application in paper format by hand delivery, 
you (or a courier service) must deliver the original and two copies of 
your application by hand, on or before the application deadline date, 
to the Department at the following address: U.S. Department of 
Education, Application Control Center, Attention: (CFDA Number 
84.215W), 550 12th Street, SW., Room 7041, Potomac Center Plaza, 
Washington, DC 20202-4260.
    The Application Control Center accepts hand deliveries daily 
between 8 a.m. and 4:30:00 p.m., Washington, DC time, except Saturdays, 
Sundays, and Federal holidays.

    Note for Mail or Hand Delivery of Paper Applications:  If you 
mail or hand deliver your application to the Department--
    (1) You must indicate on the envelope and--if not provided by 
the Department--in Item 11 of the SF 424 the CFDA number, including 
suffix letter, if any, of the competition under which you are 
submitting your application; and

[[Page 43509]]

    (2) The Application Control Center will mail to you a 
notification of receipt of your grant application. If you do not 
receive this notification within 15 business days from the 
application deadline date, you should call the U.S. Department of 
Education Application Control Center at (202) 245-6288.

V. Application Review Information

    Selection Criteria: The following selection criteria are from 34 
CFR 75.210 in EDGAR.
    The maximum score for all the selection criteria is 100 points. The 
maximum score for each criterion is indicated in parentheses with the 
criterion. The selection criteria are as follows:
    (1) Significance (up to 20 points).
    (a) The Secretary considers the significance of the proposed 
project.
    (b) In determining the significance of the proposed project, the 
Secretary considers--
    (i) The significance of the problem or issue to be addressed by the 
proposed project;
    (ii) The extent to which the proposed project is likely to build 
local capacity to provide, improve, or expand services that address the 
needs of the target population;
    (iii) The extent to which the proposed project involves the 
development or demonstration of promising new strategies that build on, 
or are alternatives to, existing strategies;
    (iv) The likely utility of the products (such as information, 
materials, processes, or techniques) that will result from the proposed 
project, including the potential for their being used effectively in a 
variety of other settings; and
    (v) The extent to which the results of the proposed project are to 
be disseminated in ways that will enable others to use the information 
or strategies.
    (2) Quality of the project design (up to 25 points).
    (a) The Secretary considers the quality of the design of the 
proposed project.
    (b) In determining the quality of the design of the proposed 
project, the Secretary considers--
    (i) The extent to which the goals, objectives, and outcomes to be 
achieved by the proposed project are clearly specified and measurable;
    (ii) The extent to which the design of the proposed project 
includes a thorough, high-quality review of the relevant literature, a 
high-quality plan for project implementation, and the use of 
appropriate methodological tools to ensure successful achievement of 
project objectives;
    (iii) The extent to which the proposed development efforts include 
adequate quality controls and, as appropriate, repeated testing of 
products;
    (iv) The extent to which the proposed project will be coordinated 
with similar or related efforts, and with other appropriate community, 
State, and Federal resources; and
    (v) The extent to which the proposed project is part of a 
comprehensive effort to improve teaching and learning and support 
rigorous academic standards for students.
    (3) Quality of project personnel (up to 15 points).
    (a) The Secretary considers the quality of the project personnel 
who will carry out the proposed project.
    (b) In determining the quality of project personnel, the Secretary 
considers the extent to which the applicant encourages applications for 
employment from persons who are members of groups that have 
traditionally been underrepresented based on race, color, national 
origin, gender, age, or disability;
    (c) In addition, the Secretary considers--
    (i) The qualifications, including relevant training and experience, 
of the project director and principal investigator;
    (ii) The qualifications, including relevant training and 
experience, of key project personnel; and
    (iii) The qualifications, including relevant training and 
experience, of project consultants or subcontractors.
    (5) Quality of the management plan (up to 10 points).
    (a) The Secretary considers the quality of the management plan for 
the proposed project.
    (b) In determining the quality of the management plan of the 
proposed project, the Secretary considers--
    (i) The adequacy of the management plan to achieve the objectives 
of the proposed project on time and within budget, including clearly 
defined responsibilities, timelines, and milestones for accomplishing 
project tasks;
    (ii) The adequacy of procedures for ensuring feedback and 
continuous improvement in the operation of the proposed project; and
    (iii) The extent to which the time commitments of the project 
director and principal investigator and other key project personnel are 
appropriate and adequate to meet the objectives of the proposed 
project.
    (6) Adequacy of resources (up to 10 points).
    (a) The Secretary considers the adequacy of resources for the 
proposed project.
    (b) In determining the adequacy of resources for the proposed 
project, the Secretary considers--
    (i) The relevance and demonstrated commitment of each partner in 
the proposed project to the implementation and success of the project;
    (ii) The extent to which the costs are reasonable in relation to 
the objectives, design, and potential significance of the proposed 
project; and
    (iii) The potential for the incorporation of project purposes, 
activities, or benefits into the ongoing program of the agency or 
organization at the end of Federal funding.
    (7) Quality of the project evaluation (up to 20 points).
    (a) The Secretary considers the quality of the evaluation to be 
conducted of the proposed project.
    (b) In determining the quality of the evaluation, the Secretary 
considers--
    (i) The extent to which the methods of evaluation are thorough, 
feasible, and appropriate to the goals, objectives, and outcomes of the 
proposed project;
    (ii) The extent to which the methods of evaluation include the use 
of objective performance measures that are clearly related to the 
intended outcomes of the project and will produce quantitative and 
qualitative data to the extent possible; and
    (iii) The extent to which the evaluation will provide guidance 
about effective strategies suitable for replication or testing in other 
settings.

VI. Award Administration Information

    1. Award Notices: If your application is successful, we notify your 
U.S. Representative and U.S. Senators and send you a Grant Award 
Notification (GAN). We may notify you informally also.
    If your application is not evaluated or not selected for funding, 
we notify you.
    2. Administrative and National Policy Requirements: We identify 
administrative and national policy requirements in the application 
package and reference these and other requirements in the Applicable 
Regulations section of this notice.
    We reference the regulations outlining the terms and conditions of 
an award in the Applicable Regulations section in this notice and 
include these and other specific conditions in the GAN. The GAN also 
incorporates your approved application as part of your binding 
commitments under the grant.
    3. Reporting: At the end of your project period, you must submit a 
final performance report, including financial information, as directed 
by the Secretary. If you receive a multi-year award, you must submit an 
annual

[[Page 43510]]

performance report that provides the most current performance and 
financial expenditure information as directed by the Secretary under 34 
CFR 75.118. The Secretary may also require more frequent performance 
reports under 34 CFR 75.720(c). For specific requirements on reporting, 
please go to https://www.ed.gov/fund/grant/apply/appforms/appforms.html.
    4. Performance Measures: Under the Government Performance and 
Results Act of 1993, Federal departments and agencies must clearly 
describe the goals and objectives of programs, identify resources and 
actions needed to accomplish goals and objectives, develop a means of 
measuring progress made, and regularly report on achievement. In order 
for the Department to be able to determine the overall effectiveness of 
projects funded under this competition, the grantee must be prepared to 
measure and report on the following measures of effectiveness:
     The percentage of participating students who make an 
educationally significant improvement in their understanding of 
personal finance.
     The percentage of participating low income students who 
complete the FAFSA.
     The percentage of participating low-income students who 
enroll in college.

VII. Agency Contact

    For Further Information Contact: Laura Messenger, U.S. Department 
of Education, 400 Maryland Avenue, SW., room 11028, Potomac Center 
Plaza, Washington, DC 20202-7241. Telephone: (202) 245-7772, or by e-
mail: laura.messenger@ed.gov. If you use a TDD, call the FRS, toll 
free, at 1-800-877-8339.

VIII. Other Information

    Accessible Format: Individuals with disabilities can obtain this 
document and a copy of the application package in an accessible format 
(e.g., braille, large print, audiotape, or computer diskette) on 
request to the program contact person listed under For Further 
Information Contact in section VII of this notice.
    Electronic Access to This Document: You can view this document, as 
well as all other documents of this Department published in the Federal 
Register, in text or Adobe Portable Document Format (PDF) on the 
Internet at the following site: https://www.ed.gov/news/fedregister. To 
use PDF you must have Adobe Acrobat Reader, which is available free at 
this site.

    Note:  The official version of this document is the document 
published in the Federal Register. Free Internet access to the 
official edition of the Federal Register and the Code of Federal 
Regulations is available on GPO Access at: https://www.gpoaccess.gov/nara/.


    Dated: July 21, 2010.
Brenda Dann-Messier,
Assistant Secretary for Vocational and Adult Education.
[FR Doc. 2010-18253 Filed 7-23-10; 8:45 am]
BILLING CODE 4000-01-P