Grants
Grants are based solely on financial need and do not have to
be repaid. The amount you receive depends on your financial
need, cost of attendance and enrollment status (full time vs.
part time).
The Pell Grant is the largest grant program, awarding
a maximum of $4,050 per student. It is the foundation to which
all other financial aid may be added. Pell Grants are usually
awarded to undergraduate students.
Federal Supplemental Educational Opportunity Grants
(FSEOG) are for undergraduates with exceptional financial
need, those with the lowest Expected Family Contribution (EFC).
The Secretary of Education has announced two new federal
grants: Academic Competitiveness Grant and National SMART Grant. The new grants will
be available for the first time for the 2006-07 school year
for first year students who graduated from high school after
January 1, 2006 and for second year students who graduated
from high school after January 1, 2005.
An Academic Competitiveness Grant will provide
up to $750 for the first year of undergraduate study and up
to $1,300 for the second year of undergraduate study to full-time
students who are U.S citizens, eligible for a Federal Pell
Grant, and who had successfully completed high school. Second
year students must also have maintained a cumulative grade
point average (GPA) of at least 3.0. The Academic Competitiveness
Grant award is in addition to the student's Pell Grant award.
A National Science and Mathematics Access to Retain
Talent (SMART) Grant will provide up to $4,000 for
each of the third and fourth years of undergraduate study
to full-time students who are U.S. citizens, eligible for
a Federal Pell Grant, and majoring in physical, life, or computer
sciences, mathematics, technology, or engineering or in a
foreign language determined critical to national security.
The student must also have maintained a cumulative grade point
average (GPA) of at least 3.0 in coursework required for the
major. The National SMART Grant award is in addition to the
student's Pell Grant award.
Additionally, many schools will offer their own grant programs
for needy students. The amount of grant money you receive
is directly tied to when you apply and how much money your
school has available to award to students.
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