FINANCIAL AID: Grant Federal Pell Grant [TOP] A Federal Pell Grant, unlike a loan, does not have to be repaid. Pell Grants are awarded usually only to undergraduate students who have not earned a bachelor's or a professional degree. (In some cases, however, a student enrolled in a post-baccalaureate teacher certification program might receive a Pell Grant.) Pell Grants are considered a foundation of federal financial aid, to which aid from other federal and nonfederal sources might be added. How much can I get? [TOP] How much can I get? The maximum Pell Grant award for the 2008-09 award year (July 1, 2008 to June 30, 2009) is $4,731. For the 2009-10 award year (July 1, 2009 to June 30, 2010), the maximum award is $5,350. The maximum amount can change each award year and depends on program funding. The amount you get, though, will depend not only on your financial need, but also on your costs to attend school, your status as a full-time or part-time student, and your plans to attend school for a full academic year or less. If I am eligible, how will I get the Pell Grant money? [TOP] Your school can apply Pell Grant funds to your school costs, pay you directly (usually by check), or combine these methods. The school must tell you in writing how much your award will be and how and when you'll be paid. Schools must disburse funds at least once per term (semester, trimester, or quarter). Schools that do not use semesters, trimesters, or quarters must disburse funds at least twice per academic year.

The Federal Supplemental Educational Opportunity Grant (FSEOG) [TOP] The Federal Supplemental Educational Opportunity Grant (FSEOG) program is for undergraduates with exceptional financial need. Pell Grant recipients with the lowest expected family contributions (EFCs) will be considered first for a FSEOG. Just like Pell Grants, the FSEOG does not have to be repaid. How much can I get? [TOP] You can receive between $100 and $4,000 a year, depending on when you apply, your financial need, the funding at the school you're attending, and the policies of the financial aid office at your school. If I am eligible, how will I get the FSEOG money? [TOP] If you're eligible, your school will credit your account, pay you directly (usually by check), or combine these methods. Your school must pay you at least once per term (semester, trimester, or quarter). Schools that do not use semesters, trimesters, or quarters must disburse funds at least twice per academic year. Institutional Grants [TOP] There are other grants in addition to ours. Colleges provide institutional grants to help make up the difference between college costs and what a family can be expected to contribute through income, savings, loans, and student earnings.

Other institutional grants, known as merit awards or merit scholarships, are awarded on the basis of academic achievement. Some merit awards are offered only to students whose families demonstrate financial need; others are awarded without regard to a family's finances.

Some grants come with special privileges or obligations. You'll want to find out about the types of grants awarded by each college you are considering The National Smart Grant [TOP] The National Science and Mathematics Access to Retain Talent Grant, also known as the National Smart Grant is available during the third and fourth years of undergraduate study to full-time students who are eligible for the Federal Pell Grant and who are 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 be enrolled in the courses necessary to complete the degree program and to fulfill the requirements of the intended eligible major in addition to maintaining a cumulative grade point average (GPA) of at least 3.0 in course work required for the major. The National SMART Grant award is in addition to the student's Pell Grant award. How Much Can A Student Receive? [TOP] A National SMART Grant will provide up to $4,000 for each of the third and fourth years of undergraduate study. The amount of the SMART Grant, when combined with a Pell Grant, may not exceed the student's cost of attendance. In addition, if the number of eligible students is large enough that payment of the full grant amounts would exceed the program appropriation in any fiscal year, then the amount of the grant to each eligible student may be ratably reduced.
For more information, please go to
http://studentaid.ed.gov/PORTALSWebApp/students/english/SmartGrants.jsp

TEACH Grant [TOP] Through the College Cost Reduction and Access Act of 2007, Congress created the Teacher Education Assistance for College and Higher Education (TEACH) Grant Program that provides grants of up to $4,000 per year to students who intend to teach in a public or private elementary or secondary school that serves students from low-income families. If, after reading all of the information on this fact sheet, you are interested in learning more about the TEACH Grant Program, you should contact the financial aid office at the college where you will be enrolled starting with the 2008-2009 school year.

In exchange for receiving a TEACH Grant, you must agree to serve as a full-time teacher in a high-need field in a public or private elementary or secondary school that serves low-income students. Also, as a recipient of a TEACH Grant, you must teach for at least four academic years within eight calendar years of completing the program of study for which you received a TEACH Grant.
For more information, please go to http://studentaid.ed.gov