Federal Grants Available for College Students

Despite the deficit, there are still a number of federal grants for college students who are looking for money to pay for school. All of the federal grants listed below can be applied for through the Free Application for Federal Student Aid (FAFSA) website.

Federal Pell Grant
The Federal Pell Grant is given to both undergraduate and graduate students to help them finish their degrees. The award amount is based on financial need and is usually in the range of $1,000- $5,000 per year.

National Science and Mathematics Access to Retain Talent Grant
To receive the National SMART Grant you must first be qualified for the Pell Grant. It is awarded to students in at least their third year of school, who are attending half to full-time. You must be majoring in an eligible science, technology, mathematics or foreign language program and must be carrying a minimum 3.0 grade point average (GPA). The grant awards up to $4,000 per year.

Academic Competitiveness Grant
In order to receive the Academic Competitiveness Grant you must also first qualify for the Pell Grant. This grant is only available for the first two years of school. If you are in your second year, you must have finished as a freshman with a GPA of 3.0 or better. This grant is only available to those who graduated from high school after January 1, 2005. It pays sup to $750 per year.

Federal Supplemental Educational Opportunity Grant (FSEOG)
The FSEOG has more stringent financial need requirements than the Pell Grant, but you do receive priority if you are a Pell Grant recipient. It is for undergraduates only and the funds come through the specific college you are attending. Amounts can be given up to $4,000 per year.

Teacher Education Assistance for College and Higher Education
The TEACH Grant is given to students (in undergraduate or graduate programs) who are taking the necessary courses to become elementary or secondary school teachers. In order to receive the up to $4,000 per year, you must agree to a four year teaching commitment at a federally approved school upon graduation. If the commitment is not met, the amount taken becomes a Federal Direct Unsubsidized Stafford Loan and it will need to be repaid in full.

All federal grants are subject to annual financial and requirement changes. Visit the FAFSA (http://www.fafsa.ed.gov/) website for current details on availability as well as deadlines.