Formerly called the Basic Educational Opportunity Grant program; the federal Pell grant program provides financial assistance to need-based students to attend a postsecondary school. 5,400 postsecondary institutions accept federal Pell grants. To determine Pell grant amounts, several factors are taken into consideration such as the student's school status (full or part-time), whether the student is attending for a full academic year or less, the school's cost of attendance and the students expected family contribution (EFC) which is a formula established by Congress. The EFC formula is used to evaluate the information on the Free Application for Federal Student Aid (FAFSA) application to determine how much the student's family can contribute to paying for college. This grant is given to students who have not received their first bachelor's degree or are enrolled in postbaccalaureate programs for teaching certification or licensure. Students may not receive Pell grant funds from more than one school at the same time.
U.S. Department of Education
400 Maryland Avenue SW
Washington, D.C. 20202
1-800-872-5327
ed.gov
Another grant program for a student is the Teacher Education Assistance for College and Higher Education (TEACH) Grant Program. This grant is for students who intend to teach at a public or private school attended by students from low-income households. Grant amounts can reach up to $4,000 per academic year. Students must maintain a 3.25 cumulative grade point average (GPA) or score in the 75th percentile or higher on the college admissions test. Students who receive this grant must become a full-time teacher in a high-need field such as English, math or science. Recipients must teach at least 4 academic years within an eight calendar year period after graduating. If the student fails to meet the requirements, his grant will be converted to an unsubsidized federal Stafford Loan with interest backdated to when funds were first disbursed.
U.S. Department of Education
400 Maryland Avenue SW
Washington, D.C. 20202
1-800-872-5327
ed.gov
Students can apply for the Academic Competitiveness Grant (ACG). This grant program provides financial assistance to students who excel in the classroom. The ACG program was initiated during the 2006-2007 school year. First year students can receive up to $750 per year while second year students can get up to $1,300. To receive grant funds, first year students must not have previously attended an ACG-eligible institution while second year students must have maintained at least a 3.0 grade point average (GPA) during their first year. The student must also be enrolled at least half the academic year to be eligible. This grant can be combined with the federal Pell grant; however if the combined amount will exceed the student's school cost of attendance, then the ACG grant will be reduced.
U.S. Department of Education
400 Maryland Avenue SW
Washington, D.C. 20202
1-800-872-5327
ed.gov