Grants for College

In the US, the federal government provides grants for college through the Federal Student Financial Aid (FSFA) program, composed of different grants, scholarships, work and loan programs which include:

Federal Pell Grants
Federal SEOG Grants
SMART Grants
Academic Competitiveness Grants (ACG)
Federal Work Study

Federal Pell Grants

The Federal Pell Grant Program provides grants for college to low income undergraduate and certain postbaccalaureate students in order to promote their access to a postsecondary education. Students may use their grants at any participating educational institution. Grant amounts are dependent on:

• the student's expected family contribution (EFC)
• the cost of attendance (which is determined by the institution)
• the student's enrollment status (full time or part time)
• whether the student attends for a full academic year or less

Federal Supplemental Educational Opportunity Grant (FSEOG) for College Program

The FSEOG Program also provides grants to low income undergraduate students for postsecondary education. Students can receive an FSEOG grant for college at any participating postsecondary institution. The school's financial aid administrators are given substantial flexibility to determine the FSEOG amount that is awarded to a student. Priority is given to students who demonstrate "exceptional need" and those who are eligible for Federal Pell Grants for college.

SMART Grants for College

On Feb. 8, 2006, former President Bush signed into law the National Science and Mathematics Access to Retain Talent (SMART) Grant, created by the Higher Education Reconciliation Act of 2005. This grant for college is intended to encourage students to study more challenging courses in high school and to pursue college majors in high demand such as science, mathematics, technology, engineering and a "critical" foreign language. In addition to the Pell Grant for college award, eligible students can receive up to $4,000 each academic year. In order to qualify for a SMART grant for college award, students must:

• submit the FSFSA application and be eligible for a Federal Pell Grant for college award
• be a U.S. Citizen
• be enrolled fulltime in a four-year degree program full-time
• be in a third or fourth year of study
• be pursuing a major in mathematics, science (including physical, life, and computer sciences), technology, engineering, or a foreign language, such as Arabic, Chinese, Korean, Japanese and Russian
• have a grade point average (GPA) of at least 3.0

Financial aid officers will determine which Pell Grant recipients are eligible for a National SMART Grant for college award. There is no need for you to provide any information beyond what was submitted with the FAFSA.

Academic Competitiveness Grants for College (ACG)

On Feb. 8, 2006, former President Bush also signed the Academic Competitiveness (AC) Grant. Like the SMART grant for college, the AC Grant for college is also intended to encourage students to take more challenging courses in high school and to pursue college majors in high demand similar to that noted above. In addition to the Pell Grant award, first year AC Grant students are awarded up to $750, while 2nd year eligible AC Grant students can receive up to $1,300. In order to qualify for an AC Grant for college, students must:

• submit an FSFSA application and be eligible for a Federal Pell Grant for college award
• be a U.S. Citizen
• be enrolled in a two year or four year degree program full-time
• be in their first or second year of study



In addition,

• Students must have completed a rigorous high school program of study as designated by their state. A rigorous program can be determined in the following ways:
1. Completion of a state's designated secondary school program of study; or
2. Pass at least two Advanced Placement (AP) tests or International Baccalaureate (IB) courses; or
3. Completion of a high school course of study with at least—

Four years of English, three years of math (including Algebra I and another higher level math course), three years of science (must include two years of biology, chemistry or physics), three years of social studies and, one year of high school foreign language.



• Second-year AC Grant students must have a first year of study grade point average (GPA) of at least 3.0

Federal Work Study Grant for College

The Federal Work Study Program provides funds to students that are earned through part-time employment to help finance their education. Students can receive Federal Work Study funds at any participating institutions. As with FSEOG Grants for college, financial aid administrators are have substantial flexibility in determining the amount of an Federal Work Study award. Please note: The hourly wages for students enrolled in a Work Study program must not be less than the federal minimum wage.

What if the award amount of your grants for college is not enough to cover the cost of your education? Well, in addition to searching for the internet for other grants for college, you have a few options, one of which is using scholarships to fund your education. Read about the various ways to get a scholarship for education. You should also consider your loan options such as:

• Federal Perkins Loan

A Federal Perkins loan is a low-interest loan for both undergraduate and graduate students who demonstrate exceptional financial need. This type of loan is made through the school's office of financial aid. The school is your lender, and the school loan is disbursed through government funding. Similar to other types of educational loans, a Perkins School loan must be repaid. Learn more.


• Federal Stafford Loans

Administered by the US Department of Education, the Federal Stafford Loan is administered under the Federal Family Education Loan (FFEL) and is only eligible to students enrolled in school.


• Federal PLUS Loans

The Parent Loan for Undergraduate Students (PLUS) loans are credit based. Parents of students may borrow money to help fill in any gaps between the cost of education and the federal aid received. Read more about PLUS Loans here.


• Private Education Loans

  If your FAFSA report indicates that you do not meet the requirements for federal funding, or the amount is below what you need, consider applying for a private student loan.
  

Build Student Credit

Once you have completely exhausted all school funding sources (although you should be consistently be looking for new scholarship and college grants), consider applying for a student credit card. A student credit card can help you build a good credit rating.

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This Website was compiled using a variety of resources and is not intended to substitute or replace the professional financial advice. The content provided is strictly for informational purposes on financing a career or education. Please seek additional information and consult a professional with any questions or concerns you may have regarding financing a dental or other professional career.