The Federal Government currently funds five educational grants with amounts ranging from a few hundred dollars to several thousand. They are:
Pell Grant
The Pell Grant is for undergraduates working on their first bachelor’s degree. It is awarded to those who demonstrate financial need. The greater the need, the higher the grant amount, up to $5350 per year (maximum limit through June 2010). There is no required course of study for the Pell Grant, but the student must be enrolled full-time – at least 12 credit hours per semester – to qualify for the full amount. For less than 12 credit hours but at least 6, the grant will be prorated accordingly.
FSEOG – Federal Supplemental Education Opportunity Grant
The FSEOG is again for undergraduates working on their first bachelors. This one is for students demonstrating “exceptional financial need”. Those students who receive Pell Grants and have the lowest expectations of family contributions will be the first considered for FSEOG. This grant pays out between $100 and $4000 per year.
There are some key differences between the FSEOG and the Pell Grant. First, while the federal government gives schools enough money for the Pell Grants to fully fund every student who qualifies for one, that is not so with the FSEOG. There is a limited amount of funds made available to each school. Those students who qualify but apply earliest have the greatest chance of being funded. Not every student who qualifies will receive a FSEOG.
Second, not all schools participate in the FSEOG program. Students need to check with their schools to find out.
Third, other financial aid will not affect the Pell Grant. It may affect the FSEOG. Receiving funding from other programs may reduce or eliminate the FSEOG for which a student may otherwise have qualified.
Last, the federal government decides how the Pell Grant money is to be distributed. The individual schools make that decision with FSEOGs.
ACG – Academics Competitiveness Grant
This is for first and second year students who also receive Pell Grants. The amount of the ACG depends on year of study. First year students receive $750; Second year students $1300.
This program is unique due to its requirement for the student to have completed a “rigorous secondary program of study”. The qualifications for rigorous study include several conditions, such as being an advanced or honors program, consist of a specified number of years of English, math, science, social studies and foreign language, and other specifications.
Second year students receiving the ACG must maintain a grade point average of at least 3.0 on a 4.0 scale.
The National Science & Mathematics Access to Retain Talent Grant (National SMART Grant)
Balancing the ACG which is only for first and second year college students, the National SMART grant is for third and fourth year (or fifth, in a five year program) students. Like the others mentioned above, the SMART Grant is for those already receiving a Pell grant.
Similar to the Pell, students must be enrolled at least half time (6 credit hours). But unlike the other grant programs, the SMART Grant is for those students majoring in physical, life, or computer sciences, mathematics, technology, engineering or a critical foreign language; or non-major single liberal arts programs. There is also a grade requirement. SMART Grant recipients must maintain at least a 3.0 g.p.a. on a 4.0 scale.
The SMART Grant awards are up to $4000 per year.
Teacher Education Assistance for College and Higher Education (TEACH) Grant
This new program is granted through the College Cost and Reduction Access Act of 2007. The TEACH Grant helps fund the education of teachers in critically needed subject areas to teach in high need locations. Undergrads and graduate students may qualify. Students must maintain at least a 3.25 g.p.a.
The TEACH Grant pays up to $4000 per year. Recipients must commit to teaching in a low income area in a high need field four years within first eight years of completing or withdrawing from program.
High Need means:
- Bilingual Education and English Language Acquisition.
- Foreign Language.
- Mathematics.
- Reading Specialist.
- Science.
- Special Education.
- Other identified teacher shortage areas as of the time one begins teaching in that field.
There are many other grants offered that don’t come from the US Government. They may be sponsored by state governments, individual universities, or private organizations. One advantage of federal grants is that they are automatically part of the FAFSA application.
As with all funding, there are frequently more applicants than there is money. It is a good idea to apply early.
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