Funding Through Grants
There are a great number of grant options available for college funding. Most are need-based or merit-based. Other grants, however, can be awarded based upon criteria such as: athletic performance, housing status, gender, ethnicity, and certain disabilities. Like scholarships, grants are awards of funds that do not require repayment.
The following is a list of some of the more common grants:
Federal Pell Grant: This federal grant is available to students pursuing an undergraduate degree. This includes students who already possess an associate’s degree, but are working toward a first bachelor’s. The Pell Grant is intended to provide students from low-income households with access to higher education. The program is funded by the federal government and students can apply for the grant once each academic year. The maximum Pell grant for the 2015–16 award year is $5,775.
SMART Grant: The Science and Mathematics Access to Retain Talent (SMART) Grant is a federal grant offered to individuals pursuing degrees in math, engineering, technology, and science. In order to be eligible, applicants must be in an approved program, maintain a GPA of 3.0, and be able to participate in summer internships at DoD laboratories. The award amounts vary from $2,000 to $8,000 and the specific amount will be based on individual achievement.
Supplemental Educational Opportunity Grant: The Supplemental Educational Opportunity Grant was created to provide an additional financial award to aid recipients that demonstrate the highest degree of financial need. While students do not need to be Pell Grant recipients to qualify for the grant, those who have been awarded Pell Grants are given priority when applying and qualifying for a SEOG.
TEACH GRANT: The Teacher Education Assistance for College and Higher Education Grant was developed as a strategy to increase the number of students pursuing teaching degrees based upon an increasing demand within the field of education. This program requires recipients of the grant to sign an Agreement to Serve.