Federal grants

Grants are based upon financial need and don't have to be repaid. They are considered gift aid. The Federal Pell Grant is the largest grant program. It is reserved for the most needy students, and currently has a maximum award of $4,000 per student borrower. Other federal and state grant programs are available for students who qualify. Also, many colleges have their own grant funds to award students. The Federal Supplemental Educational Opportunity Grant (FSEOG) is available to undergraduates with exceptional financial need--those who have the lowest Expected Family Contributions. Students who receive Federal Pell Grants are given priority to receive FSEOG. Like all other grants, the FSEOG does not need to be repaid.

If you qualify for this grant, you can receive between $100 and $4,000 per year (possibly more if you participate in a study-abroad program). The school credits your account and/or pays you directly. You'll be paid at least once per semester, trimester or quarter.

The amount you may receive depends on the following:

  • Your level of need:
    This is based on a standard formula which uses the information you include on your Free Application for Federal Financial Aid (FAFSA).

  • When you apply, and your school's funding level:
    Funding for this federal program is subject to change, and schools are allotted varying amounts of money each year from the federal government. If you apply late, there's no guarantee that you'll be able to receive this grant money even if you're eligible. Once all of your school's funds for the year have been allocated, no more grants can be made.
 
 
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