by Carlos Soto, CourseAdvisor

There are four types of federal grants for student aid:

• Federal Pell Grants
• Federal Supplemental Educational Opportunity Grants (FSEOG)
• Academic Competitiveness Grant (ACG)
• National Science and Mathematics Access to Retain Talent Grant (National SMART Grant)

These are different federal grant programs with their own criteria, awards and eligibility requirements. Let’s take a closer look at each one:

Federal Pell Grants
Federal Pell Grants are the foundation of the federal financial aid program. Usually awarded to undergraduate students, Pell Grants can be awarded, in special cases, to students enrolled in a postbaccalaureate teacher certificate programs. The Pell Grant is a form of federal need-based financial aid, where eligible students receive a specified amount each year. A standard formula is used by the U.S. Dept. of Education to calculate the award amount based on the information submitted by the student. The result is an Expected Family Contribution (EFC) number which determines whether the student is eligible for a Pell Grant. Since 2002, the maximum Pell grant award has been $4,050 per academic year. The actual amount awarded depends on several factors, including Expected Family Contribution, cost of attendance (COA), and the amount of time the student is enrolled in school for. Only one Pell Grant is awarded per school year.

Federal Supplemental Educational Opportunity Grants (FSEOG)
FSEOG’s are available to students with exceptional financial need – those with the lowest expected family contribution. Priority for FSEOG awards is given to federal Pell Grant recipients and the Federal Supplemental Educational Opportunity Grant awards range from $100 to $4000 per year. The amount of money awarded in this type of federal grant depends on the amount of other aid you get and the availability of funds at your school, as well as on financial need. The way this program works is that each school participating in the Federal Supplemental Educational Opportunity Grant program receives a certain amount of FSEOG funds each year from the Dept. of Education. Once these funds are disbursed for that year, no more FSEOG awards can be made that year. Remember, not all schools participate in this federal grant program, and it is your school’s financial aid office who decides how to award these funds.

Academic Competitiveness Grant (ACG)
The Academic Competitiveness Grant is a fairly new merit-based federal grant program which began in the 2006-2007 school year. It is an award available to full-time undergraduate students enrolled in an eligible program who receive Federal Pell Grants and are U.S. citizens. Also, this federal grant is more rigorous in its requirements, as it is designed for highly competitive students who show they can excel in an academically rigorous environment. Applicants must have completed a rigorous secondary school program of study and be enrolled in at least a two-year Bachelor’s program or enrolled in a graduate degree program that includes three years of undergraduate education.

According to Funding Education Beyond High School, the Department of Education’s handbook on college financial aid:

A rigorous secondary school program of study includes one of the following:

• Programs proposed by a state in response to the U.S. Department of Education’s request. See list at www.ed.gov/admins/finaid/about/ac-smart/ state-programs06.html.
• An advanced or honors diploma program.
• A required set of courses similar to the State Scholars Initiative. This program of study includes four years of English, three years of mathematics (including Algebra I and higher-level courses such as Algebra II, Geometry, or Data Analysis and Statistics), three years of science (including at least one year each of two of the following: biology, chemistry or physics), three years of social studies, and one year of a foreign language other than English.
• Advanced Placement (AP) courses or International Baccalaureate (IB) courses.
• Completion of two or more AP courses and a score of 3 or better on at least two AP exams for the courses completed or completion of two or more IB courses and a score of 4 or better on at least two IB exams for the courses completed.

First academic year* undergraduate students must:

• Be enrolled in an eligible program;
• Have completed a rigorous secondary school program of study;
• Not have been previously enrolled as a regular student* in an undergraduate education program; and
• Have graduated from high school after Jan. 1, 2006.

The award is up to $750 for first academic year undergraduate students.

Second academic year undergraduate students must:

• Be enrolled in an eligible program;
• Have completed a rigorous secondary school program of study;
• Have graduated from high school after Jan. 1, 2005; and
• Have at least a 3.0 GPA for the first academic year for their eligible program.

The award is up to $1,300 for second academic year undergraduate students.

National Science and Mathematics Access to Retain Talent Grant (National SMART Grant)
This new program is available for full-time undergraduate 3rd or 4th year students who are enrolled in an eligible program and receiving Pell grants. Students must be pursuing a major in the physical, life, or computer sciences, engineering, technology, mathematics or a critical-need foreign language and have a minimum of 3.0 cumulative GPA. As such, it is aimed at a similar group as the ACG Academic Competitiveness grant, except that the ACG is for 1st and 2nd year students, while the National Science and Mathematics Access to Retain Talent Grant is for 3rd and 4th year students.

A National 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 eligible for a 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.

An eligible student may receive a National SMART Grant of up to $4,000 for each of the third and fourth academic years of study. To be eligible for 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; and
• Have at least a cumulative 3.0 grade point average on a 4.0 scale (as set forth in regulations to be promulgated soon).

Note that 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.

Source:
Source Funding Education Beyond High School, http://studentaid.ed.gov/students/attachments/siteresources/FundingEduBeyondHighSchool_0708.pdf