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Grants for Students – Part 2

By Jillian Wheeler | May 19, 2008

In my last post, I discussed the types of grants and scholarships available for college students, and the steps necessary to obtain them.  One of the most important steps is to file a Free Application for Financial Student Aid, or FAFSA.  The government determines a student’s financial need based on the FAFSA, and issues an SAR, or Student Aid Report, which shows your EFC (Expected Family Contribution).  Based on the EFC, college Financial Aid Offices will award financial assistance to needy students.  A basic package of aid will come from the federal government; however, the college or university will often add their own institutional grants to meet the tuition requirements.

Financial aid grants, like other grants, do not have to be repaid.  The following is a list of federal grants for students.  In addition to these grants, the federal government also offers loans to students.

Pell Grant

The federal government Pell Grant is the foundation of all federal student aid.  It is awarded to students who meet the income and need criteria, based on the FAFSA.  Pell Grants are awarded only to undergraduate students.  The maximum Pell Grant award for the 2008-09 academic year is $4,731.  However, the amount varies according to the costs of the college.  Students must be enrolled in at least 12 hours of classes to receive the maximum award, and must attend for the full academic year.

Generally, the school will apply the Pell Grant directly to school costs, but some schools pay students directly.  Funds are dispersed at least twice per academic year.

Federal Supplemental Educational Opportunity Grant (FSEOG)

The FSEOG program is for undergraduates with exceptional financial need. Pell Grant recipients with the lowest expected family contributions will be considered first for a FSEOG.  Students may receive between $100 and $4,000 per year, and as is the case with Pell Grants, the formula is determined by the college Financial Aid Office.

 The FSEOG may be applied directly to the student’s account, or the school may issue a check to the student.  Funds are dispersed at least twice per academic year.

 

Academic Competitiveness Grant

The Academic Competitiveness Grant is a new program for first year college students.  This grant is awarded to students who qualify for a Pell Grant, and is a separate, additional award.  Academic Competitiveness Grants provide up to $750 for the freshman year, and up to $1,300 for the sophomore year, to students who have successfully completed a rigorous high school program and who have maintained a cumulative grade point average of 3.0 or above.  The combined Pell Grant and Academic Competitiveness Grant awards will not exceed the student’s cost of attendance.  Students must be U.S. citizens.

There are several paths to qualify for an Academic Competitiveness Grant, and states have the option of providing other options.  Here are some of the paths: 

1.The State Scholars Initiative requirements. Students who participate in and complete the State Scholars program will be eligible. This program, currently offered in fourteen States and patterned after the recommendations of the National Commission on Excellence in Education, requires at least four years of English, three years of math (including Algebra I, Algebra II and Geometry), three years of basic lab science (biology, chemistry, physics), three-and-one-half years of social studies, and two years of the same foreign language other than English.

 

2. A required set of courses similar to the State Scholars Initiative. This program of study includes four years of English, three years of Math (including Algebra I and a higher level course such as Algebra II, Geometry, or Data Analysis and Statistics), three years of science including one year each of at least two of the following courses: biology, chemistry or physics, three years of social studies, and one year of a language other than English. The program of study must be completed with passing grades.

 

3. Advanced Placement or International Baccalaureate courses and test scores. This program requires a minimum of two Advanced Placement (AP) or International Baccalaureate (IB) courses in high school and a minimum passing score on the exams for those classes. Students must score 3 or higher on AP exams and 4 or higher on IB exams.

4. Students in public or private schools, home-schooled, or enrolled overseas in Department of Defense schools have several options by which to demonstrate successful completion of a rigorous secondary school program of study, thereby establishing their eligibility for Academic Competitiveness Grants. For the 2006-07 academic year, the following options will be immediately recognized as demonstrating successful completion of a rigorous program of study:

·          Receiving advanced or honors diplomas currently offered by States;

·          Completing a State Scholars Initiative program;

·          Completing a set of course requirements that is similar to the State Scholars requirements; and

·          Achieving a specified score on Advanced Placement / International Baccalaureate tests after course completion.

 National Smart Grant

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 coursework required for the major. The National SMART Grant award is in addition to the student’s Pell Grant award.

The SMART Grant award may be up to $4,000 for the junior and senior years of college.  Again, the sum of the Pell Grant and the SMART Grant may not exceed the student’s cost of attendance.

As I mentioned in the previous post, students and their parents should work closely with the Financial Aid offices of the colleges the student is considering attending.

As you can see, grants are powerful!

If you are interested in getting a grant for a community  or business project, or if you are interested in becoming a Certified Grant Writer and having an exciting and lucrative new career, consider enrolling in our Grants Training Classes:

www.GrantMeRich.com/classes.htm

Our next class starts May 28th, and we accept only 15 students.  As an added bonus, you can take advantage of our Economic Stimulus Package sale pricing – and get the lowest tuition offered this year.

 

 

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