Jan
26
Federal Grants
Filed Under Uncategorized
Nowadays people become very interested in the continuing of their education and in the receiving of the university degree. But the studying expenses are very high and majority of students cannot cover them without additional financial aid. There are three main types of financial aid: loans, grants and scholarships. Grants are the most advantageous, as they do not have to be repaid after graduation. Below the main types of student’s grants are described.
- FSEOG, which is called First the Federal Supplemental Equal Opportunity Grant. This grant program provides grants for undergraduate students if they have need. The max sum of grant on this program is $ 4000. The actual sum of money depends on many factors, such as other types of financial aid, additional money, etc. The award also depends on the school you study in. To apply for this type of grant program, the students have to fill in the FASFA form (free application for federal student`s aid).
- Pell grant provides the money for the students to cover studying expenses in the sum up to $ 5 400. There are some essential requirements, such as citizenship, eligibility of institution, etc. The students can receive this grant even if the family has high level of incomes. But usually those students, who receive Pell Grant, have total family income about $ 20 000.
- The Academic Competitiveness Grant provides the money for first and second year students. The total sum of money can be from $ 750 during the first year to $ 1300 during the second year. To receive this grant the candidate must have completed rigorous course in high school. To confirm it, the students have to pass the international baccalaureate tests or advanced placement test.
- SMART (Science and Mathematics Access to Retain Talent). This program provides the grants for such majors, as scientists, engineers and other technical fields.