Business and International Education Program

Overview & Synopsis

This paper presents an overview of the Business and International Education Program of the International Education Programs Service (IEPS). This program provides funds to institutions of higher education that enter into an agreement with a trade association, a business, or both for the purpose of improving business curriculum and as a means of conducting outreach activities that expand the capacity of the business community to engage in international economic activities. The purpose of this program is to promote education and training in order to enable U.S. business activity to prosper in an international economy. The legislation has authorized the secretary of education to award grants to institutions of higher education to provide suitable international training to business personnel in various stages of professional development. Programs assisted with federal funds are required to enhance the international academic program of the institution and provide appropriate services to the business community to expand its capacity for engaging in commerce abroad. As a statutory requirement, the institution must match 50 percent of the total cost of the program. Each grant application must be accompanied by an agreement between the institution and a business enterprise, trade organization or association engaged in international economic activity.