Paying for college can be a daunting task, especially for students who do not have access to financial resources or support from their families. Fortunately, there are several federal educational grant options that can help offset tuition costs and make higher education more accessible.
In this article, we will explore some of the most popular federal educational grants available to students, including the Pell Grant, the Federal Supplemental Educational Opportunity Grant (FSEOG), and the Teacher Education Assistance for College and Higher Education (TEACH) Grant.
The Pell Grant
The Pell Grant is one of the most well-known and widely-used federal educational grants available to students. It is a need-based grant that is awarded to undergraduate students who have not yet earned a bachelor’s or professional degree. To be eligible for a Pell Grant, students must demonstrate financial need and meet certain other eligibility requirements, such as being a U.S. citizen or eligible non-citizen, being enrolled in an eligible program of study, and maintaining satisfactory academic progress.
The amount of a Pell Grant award is determined by several factors, including the student’s financial need, the cost of attendance at their school, the amount of other aid they are receiving, and whether they are enrolled full-time or part-time. The maximum Pell Grant award for the 2021-2022 academic year is $6,495, and the grant is typically disbursed in two equal payments per academic year.
The Federal Supplemental Educational Opportunity Grant
The Federal Supplemental Educational Opportunity Grant (FSEOG) is another need-based grant that is awarded to undergraduate students with exceptional financial need. Like the Pell Grant, FSEOG is awarded to students who have not yet earned a bachelor’s or professional degree. However, FSEOG is only available to students who are also receiving a Pell Grant.
The amount of an FSEOG award varies based on the student’s financial need and the availability of funds at their school. FSEOG awards can range from $100 to $4,000 per academic year, and the grant is typically disbursed in two equal payments per academic year.
The Teacher Education Assistance for College and Higher Education
The Teacher Education Assistance for College and Higher Education (TEACH) Grant is a federal educational grant that is specifically designed for students who are planning to pursue a career in teaching. To be eligible for a TEACH Grant, students must be enrolled in an eligible program of study, agree to serve as a full-time teacher in a high-need field in a low-income school for at least four years after graduation, and meet certain other eligibility requirements.
The amount of a TEACH Grant award is determined by the student’s enrollment status and the cost of attendance at their school. The maximum TEACH Grant award for the 2021-2022 academic year is $4,000 per academic year, and the grant is typically disbursed in two equal payments per academic year.
In addition to the Pell Grant, FSEOG, and TEACH Grant, there are several other federal educational grants available to students, including the Iraq and Afghanistan Service Grant, the Federal Work-Study Program, and the National Science and Mathematics Access to Retain Talent (SMART) Grant.
The Iraq and Afghanistan Service Grant
The Iraq and Afghanistan Service Grant is a need-based grant that is available to students whose parent or guardian died as a result of military service in Iraq or Afghanistan after the events of 9/11. To be eligible for this grant, students must be under the age of 24 or enrolled in college at least part-time at the time of their parent or guardian’s death. The maximum Iraq and Afghanistan Service Grant award for the 2021-2022 academic year is $6,495, and the grant is typically disbursed in two equal payments per academic year.
Federal Work Study Program
The Federal Work-Study Program is a financial aid program that provides part-time employment to undergraduate and graduate students with financial need. Through the Federal Work-Study Program, students can work on campus or at a participating off-campus organization to earn money to help pay for their education. The amount of a Federal Work-Study award is determined by the student’s financial need and the availability of funds at their school. Students who are awarded Federal Work-Study must work a certain number of hours per week in order to earn their award.
The National Science and Mathematics Access to Retain Talent (SMART)
The National Science and Mathematics Access to Retain Talent (SMART) Grant is a federal grant that is available to students who are majoring in science, technology, engineering, or math (STEM) fields. To be eligible for a SMART Grant, students must be enrolled in an eligible program of study, be receiving a Federal Pell Grant, and meet certain other eligibility requirements.
The amount of a SMART Grant award is determined by the student’s enrollment status and the cost of attendance at their school. The maximum SMART Grant award for the 2021-2022 academic year is $4,000 per academic year, and the grant is typically disbursed in two equal payments per academic year.
Final Thoughts
In conclusion, there are several federal educational grant options available to students to help offset tuition costs and make higher education more accessible. These grants, including the Pell Grant, FSEOG, and TEACH Grant, can provide much-needed financial assistance to students who are facing financial challenges and may not have access to other resources. If you are a student looking for ways to pay for college, it is worth considering applying for one of these federal educational grants to see if you may be eligible.
