Federal Grants, State Grants, School-Based and Private Grants

Getting into College

Grants

Federal Grants
State Grants
School-Based and Private Grants

Federal Grants

Grants are the best kind of financial aid. You don’t have to pay those back. Grants are a form of financial aid that does not need to be repaid. They are usually awarded on the basis of financial need, unlike most scholarships, and come from the usual aid providers: the federal government, the states, the schools, private organizations and individuals. In most cases, there are no separate applications for grants. When you submit the FAFSA (Free Application for Federal Student Aid) you automatically apply for almost all forms of aid. So it is important to fill FAFSA and more important to checkout the deadline to fill FAFSA form.

The Federal Grants are listed below:

Federal Pell Grant
Federal Supplemental Educational Opportunity Grants (FSEOG)
Academic Competitiveness Grant^New
National SMART Grant^New
Institutional Grants

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Federal Pell Grant

Pell Grants are awarded usually only to undergraduate students who have not earned a bachelor's or a professional degree. A Federal Pell Grant is free financial aid awarded based on financial need. You may qualify if you are enrolled full-time or part-time at an eligible institution and meet the need requirement. The U.S. Department of Education uses the FAFSA to determine if you are eligible for the grant. You can expect notification of your FAFSA results in approximately two to four weeks. You may receive only one Federal Pell Grant in an award year. Schools distribute the funds according to the U. S. Department of Education's payment schedule.

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Federal Supplemental Educational Opportunity Grants (FSEOG)

The Federal Supplemental Educational Opportunity Grants (FSEOG) is for undergraduate students with exceptional financial need. Pell Grant recipients are eligible for the FSEOG.

A student can receive between $100 and $4,000 a year, depending on when they apply, the student's financial need, the funding at the school the student is attending, and the policies of the financial aid office at that school

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Academic Competitiveness Grant^New
An Academic Competitiveness Grant is 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. This grant is open for full-time undergraduate students who are US citizen and eligible for Federal Pell Grant.

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. The Academic Competitiveness Grant award is in addition to the student's Pell Grant award.

You may be eligible to receive an Academic Competitiveness Grant, if you meet following requirements:

You should be a U.S. citizen
You should graduate from high school after January 1, 2005
You should be eligible to receive a Pell Grant
You should be enrolled as a full-time first or second year student in a two-year or four-year degree program

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The National Science & Mathematics Access to Retain Talent Grant (National SMART Grant)^New

National SMART Grant is new grant beginning from 1, July 2006. It 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 have maintained a cumulative grade point average (GPA) of at least 3.0 in coursework required for the major. This grant is in addition to the student's Federal Pell Grant award.

A National SMART Grant will provide up to $4,000 for each of the third and fourth years of undergraduate study.

Eligibility Requirements

To receive the National SMART Grant each academic year, a student must:

Be a U.S. citizen
Be a Federal Pell Grant recipient
Be enrolled full-time in a degree program
Be enrolled in a four-year degree-granting institution
Major in physical, life or computer science, engineering, mathematics, technology, or a critical foreign language. Click here for a detailed listing of eligible majors.
Have at least a cumulative 3.0 GPA on a 4.0 scale (as set forth in regulations to be promulgated soon) in the coursework required for the student's major.

A student can apply for the National SMART Grant by completing and submitting the Free Application for Federal Student Aid (FAFSA). The postsecondary school listed on the student's FAFSA will determine whether the student meets all of the eligibility requirements. The financial aid office will award the grant to eligible students.

For detailed information about the implementation of this grant, visit www.ifap.ed.gov/dpcletters/GEN0608.html

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Institutional Grants

There are other grants in addition to federal grants. 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.

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State Grants

Many states offer their own grant program. You must be a state resident and, in most cases, go to a state-supported public college (not required in California), be enrolled at least half time and, in some cases, maintain satisfactory academic progress. Such grants may be guaranteed to students with a specified grade point average or class ranking in high school. They may also be earmarked for certain expenses, such as fees, books and supplies. In some states you apply by simply filling out the FAFSA. Other states have separate applications, usually available through the financial aid office.

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School-Based and Private Grants

Most colleges, especially private colleges, award grants out of their own funds. They may appear quite similar to scholarships. The criteria are not always published, but colleges generally have the discretion to adjust the size of grants to financially needy students based on academic qualifications. Many colleges also award grants to students regardless of financial need. Check with your college to find out the application process, if any.

Finally, private organizations, companies, associations, foundations and individuals award grants, whose criteria typically mirror those of the colleges that administer them.

If your family has a greater-than-average financial need and you are admitted to a college, you will probably be eligible for grants. Grants are easier to qualify for than scholarships, since financial need is usually considered before academic achievement. Since they don't have to be repaid, they are just about the most desirable form of aid. Nothing beats free money for college.