Federal Undergraduate Grants
Obtaining a college education is more important than ever--and more expensive than ever. To help defray the rising cost of a degree, the federal government provides five types of grants for undergraduates. Unlike loans, grants do not have to be repaid, making federal grants an attractive option for students who qualify for financial assistance.
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Federal Pell Grant
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Pell grants can help pay for textbooks
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Undergraduate students should apply for a Pell Grant first, as most other federal grants build on Pell eligibility. Award amounts are based on the cost of attending college, including tuition, living expenses and textbooks; enrollment status; annual length of attendance; and the amount a student's family can be expected to contribute. The maximum amount of a Pell award changes every year, but generally ranges from $100 to $4700. Students can apply for Pell Grants online at the Free Application for Federal Student Aid website, fafsa.ed.gov.
Federal Supplemental Educational Opportunity Grant
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Federal Supplemental Educational Opportunity Grants (FSEOG) are reserved for students with the most financial need, as determined by expected family contribution. FSEOGs are distributed directly through participating schools' financial aid offices. There is a limited amount of FSEOG funds available each year, so it's important to apply early. Unlike other federal grants, FSEOG amounts are affected by the amount of other financial aid a student receives. FSEOGs range from $100 to $4,000.
Academic Competitiveness Grant
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In order to be eligible for an Academic Competitiveness Grant (ACG), students must be a first- or second-year undergraduate, enrolled full- or half-time and the graduate of a rigorous secondary school of study. A list of recognized rigorous secondary schools can be found on ACG's website (see Resources). Additionally, first-year students must have completed secondary school after January 1, 2006, and second-year students must have completed secondary school after January 1, 2005 and have earned at least a 3.0 grade point average in their first year of college. ACGs range from a maximum of $750 for first-year students to a maximum of $1,300 for second-year students.
National Science and Mathematics Access to Retain Talent Grant
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SMART Grants are for science, math and technology majors
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The National Science and Mathematics Access to Retain Talent (SMART) Grant is awarded to full-time students in their junior or senior year. Only certain majors, such as computer, life and physical sciences; technology; engineering; and foreign languages, are eligible to receive SMART grants. Students must maintain a minimum 3.0 GPA throughout the grant period. SMART Grants award up to $4,000 per year.
Teacher Education Assistance for College and Higher Education Grant
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The Teacher Education Assistance for College and Higher Education (TEACH) Grant is awarded to students who agree to teach specific subjects at selected low-income schools for four years within eight years of graduation. Qualifying students must also meet specific academic achievement levels, such as scoring above the 75th percentile on at least one section of a college admissions test (like the SAT, ACT or GRE) or maintaining at least a 3.25 cumulative GPA. TEACH Grants provide a maximum of $4,000 per year. For more information, go to http://teach-ats.ed.gov.
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