Federal Pell grants, the foundation of the federal grant program, are awarded to undergraduate students who have yet to earn a bachelor's degree. Award amounts change yearly, and are generally less than $5,000.
A Federal Supplemental Educational Opportunity Grant (FSEOG) is awarded to those students who demonstrate an extreme financial need that goes beyond the Pell Grant requirements. FSEOG awards are typically between $1,000 and $4,000 per year, and FSEOG recipients are also eligible for Pell grants.
An Academic Competitiveness Grant (ACG) is awarded to undergraduates in their first or second year of study who have completed a rigorous secondary education (as established by the Department of Education). ACG recipients are also eligible for Pell grants.
The National Science and Mathematics Access to Retain Talent Grant (National SMART Grant) is provided for undergraduate students enrolled full time in their third or fourth year of study in a math or science degree program. The grant award can be as much as $4,000 each year.
The Teacher Education Assistance for College and Higher Education (TEACH) Grant Program is designed for undergraduate students enrolled in an education program who intend to become teachers. The grant award is up to $4,000 a year, and in exchange recipients must pledge to teach in designated low-income schools for four years.
Online students must fill out the Free Application for Federal Student Aid (FAFSA) to be eligible for any federal grant program. The FAFSA requires tax and income information, and determines a student's level of financial need.