Federal Programs

• Must be a U.S. citizen.
• Must be Federal Pell Grant eligible.
• Have completed a rigorous (as defined by a state of local educational agency) secondary school program of study.
  • First-year student may not have been previously enrolled in an undergraduate program.
  • Second-year student must have at least a cumulative 3.0 GPA on a 4.0 scale for the first academic year. 
• Be enrolled full-time at a two-year or four-year degree granting institution.
• Maximum award amount. 
  • Up to $750 first-year students
  • Up to $1,300 second-year students 
• Grant may be used for any educational expense, such as tuition and fees, room and board, and living expenses.
• Grant may not exceed COA when combined with other types of FA. 
• Award amounts are dependent upon funding approved by the Federal government.
• U.S. Department of Education will notify eligible applicants by regular or electronic mail.

National Science and Mathematics Access to Retain Talent (SMART) Grant Program 

• Must be a U.S. citizen.
• Must be Federal Pell Grant eligible.
• Be enrolled full-time at the third and fourth year academic level in a four-year degree granting institution pursuing a major in mathematics, science (including physical, life and computer sciences) technology, engineering or critical foreign language.
• Have at least a cumulative 3.0 GPA on a 4.0 scale in coursework required for the major.
• Maximum award amount of $4,000 per academic year. 
• Grant may be used for any educational expense, such as tuition and fees, room and board, and living expenses.
• Grant may not exceed COA when combined with other types of FA.
• Award amounts are dependent upon funding approved by the Federal government.
• The college determines eligibility for the SMART grant.

• Largest direct-aid grant program administered on a federal level.
• Gift aid (does not have to be repaid).
• Grant may be used for any educational expense, such as tuition and fees, room and board, and living expenses.
• Available to undergraduate students.
• Maximum award for the 2008-09 academic year is $4,731 (the maximum award for the 2007-08 academic year was $4,310).
• To apply for the grant, complete a Free Application for Federal Student Aid (FAFSA). Financial need is based on Federal Methodology.
• Students are notified of eligibility via the Student Aid Report (SAR).
• The award amount of the Federal Pell Grant is calculated by the college and is based on the SAR information.
• Award amounts are dependent upon funding approved by the Federal government.

Federal Supplemental Educational Opportunity Grant (FSEOG)

• Gift aid (does not have to be repaid).  Priority for this grant is given to exceptionally needy students (in lowest EFC order) and Federal Pell Grant recipients.
• Available to undergraduate students with an exceptional financial need.
• The amount a student can receive depends on the student's need and the availability of funds at the college.  The maximum award is $4,000.
• Apply for FSEOG by completing a Free Application for Federal Student Aid (FAFSA).  Financial need is based on Federal Methodology.
• The application deadline is set by each Financial Aid Office.
• Eligibility for the grant is determined by the college's Financial Aid Administrator.
• Eligible students are notified via the college's financial aid award letter.

Federal TEACH Grant

• The federal Teacher Education Assistance for College and Higher Education (TEACH) Grant Program, which is effective beginning with the 2008-09 academic year, was designed to benefit current and prospective teachers.
• Available to undergraduate and graduate students. 
• Applicants must meet basic eligibility requirements (there is no Expected Family Contribution for this grant), complete the FAFSA. 
• Must be currently completing coursework necessary to begin a career in teaching; or plan on completing coursework necessary to begin a career in teaching. Meet academic requirements.
• Maximum award for the 2008-09 academic year is up to $4,000 per academic year. Maximum aggregate awards are:
  • $16,000 for students working toward their first undergraduate or post-baccalaureate (nondegree) program
  • $8,000 for graduate students.
• When combined with other aid, the award amount cannot exceed the cost of attendance. The award amount is prorated for those attending less than full-time.
• Recipients of this grant must sign an agreement to meet specific teaching requirements within eight years after completing the program for which the grant was received. If the teaching requirement is not fulfilled, the grant must be repaid as an unsubsidized Direct Stafford Loan.
• Comparison of Teacher Education Programs (including Federal TEACH Grant and ISAC programs)

Federal Work-Study (FWS)

• Need-based employment program providing on- and off-campus jobs for students.
• Available to undergraduate and graduate students.
• Compensation is at least the current federal minimum wage and is paid by the college directly to the student.
• Eligible students and the Financial Aid Office work together to locate available jobs.
• Apply for FWS by completing a Free Application for Federal Student Aid (FAFSA).  Financial need is based on Federal Methodology.
• The availability of funds is limited; Financial Aid Offices may establish priority deadlines.

Federal Perkins Loan Program

• Need-based loan which must be repaid to the school.
• Available to undergraduate, graduate and professional students.
• Current interest rate is 5%.
• Eligible students may borrow up to the annual maximums of:
  • $4,000 - undergraduate study
  • $6,000 - graduate study
• Repayment begins nine months after the student graduates or drops below half-time enrollment status.  Minimum monthly payment is $40 per month.
• Apply for the loan by completing the Free Application for Federal Student Aid (FAFSA).  Financial need is based on Federal Methodology.
• Eligibility for the Federal Perkins Loan is determined by the college's Financial Aid Administrator and the availability of funds at the college. Financial Aid Offices may establish priority filing deadlines.
• The college acts on behalf of the federal government as the lender for the loan; students sign a promissory note and receive the loan funds from the school.  Students must also complete entrance and exit loan counseling before receiving loan dollars.
• There are deferment and forbearance exceptions available to borrowers if needed. Borrowers must contact their college/university.

Federal Family Education Loan Program (FFELP)

William D. Ford Federal Direct Loan Program (Federal Direct Lending)

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