| Federal Student Aid Program |
Type of Aid |
Program Details |
Annual Award Limits |
| Federal Pell Grant |
Grant: does not have to be repaid |
Available almost exclusively to undergraduates; all eligible students will receive the Federal Pell Grant amount they qualify for. |
Up to $5,350 for 2009 - 2010 and up to $5550 for 2010-2011
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| Federal Supplemental Educational Opportunity Grant (FSEOG) |
Grant: does not have to be repaid |
For undergraduates with exceptional financial need; priority is given to Federal Pell Grant recipients; funds depend on availability at school. |
$100 to $4,000 |
| Academic Competitiveness Grant (ACG) |
Grant: does not have to be repaid |
For undergraduates receiving Pell Grants who are U.S. citizens or non-U.S. citizens enrolled at least half-time in their first or second academic year of study.
For first academic year students who have completed a rigorous secondary school program of study, graduated from high school after Jan. 1, 2006, and have not been previously enrolled in an undergraduate program.
For second academic year students who have completed a rigorous secondary school program of study, graduated from high school after Jan. 1, 2005, and have at least a 3.0 cumulative GPA at the completion of their first year of postsecondary study. |
First academic year students: up to $750
Second academic year students: up to $1,300
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| National Science and Mathematics Access to Retain Talent Grant (National SMART Grant) |
Grant: does not have to be repaid |
For undergraduates receiving Pell Grants, who are U.S. citizens or non-U.S. citizens and enrolled at least half-time in their third , fourth and fifth academic years (for programs requiring five years – 2009-2010 only) of an eligible degree program majoring in physical, life, or computer sciences, engineering, technology, mathematics or a critical-need foreign language and have at least a 3.0 cumulative GPA. |
Up to $4,000 for each of the third, fourth, and fifth academic years |
| Federal Work-Study (FWS) |
Money is earned while attending school; does not have to be repaid |
For undergraduate and graduate students; jobs can be on campus or off campus; students are paid at least federal minimum wage. |
No annual minimum or maximum award amounts |
| Federal Perkins Loan |
Loan: must be repaid |
Interest charged on this loan is 5 percent for both undergraduate and graduate students; payment is owed to the school that made the loan. |
$5,500 annual maximum for undergraduate students; $8,000 annual maximum for graduate and professional degree students; no minimum award amount |
| Subsidized Direct or FFEL Stafford Loan |
Loan: must be repaid |
Subsidized: The Federal government pays interest while borrower is in school and during grace and deferment periods; you must be at least a half-time* student and have financial need. |
$3,500 to $8,500 annual, depending on grade level |
| Unsubsidized Direct or FFEL Stafford Loan |
Loan: must be repaid |
Unsubsidized: Borrower is responsible for interest during life of the loan; you must be at least a half-time student; financial need is not a requirement. |
$9,500 to $20,500 maximum annual award (minus any subsidized loans received for the same enrollment period) depending on grade level and dependency status. |
| Direct or FFEL PLUS / Graduate PLUS Loan |
Loan: must be repaid |
Borrower is responsible for interest during life of the loan; you must be at least a half-time student; financial need is not a requirement. This loan is credit based.
Available to parents of dependent undergraduate students and graduate and professional students enrolled at least half-time. |
Maximum amount is cost of attendance minus any other financial aid the student receives; no minimum award amount. |
| Teacher Education Assistance for College and Higher Education (TEACH) Grant Program |
Grant: does not have to be repaid as long as Agreement to Serve (ATS) is fulfilled |
For undergraduate and graduate students who plan to become teachers. Candidates must agree to serve as full-time teachers at certain schools and within certain high-need fields for at least four academic years. |
Maximum amount for undergraduate students is $4000 a year for 4 years with a maximum of $16000. Maximum amount for graduate students is $4000 a year with a maximum of $8000. |
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For any changes to the federal student aid programs, visit www.FederalStudentAid.ed.gov and click on “Students, Parents and Counselors.” Any new information will appear in the “Announcements” section. |
