student loan advice | New Grants Greet New Students

New Grants Greet New Students

For many high school students and some college students, there are new grants available to help you to pay for your education. The new grants were available July 1st.

Who Will Benefit From These New Grants?

High school students with rigorous course work in Math, Science and some languages are the recipients of these new grants to the tune of about $790 million dollars. 4.5 billion dollars will be made available for continued funding of these grants over the next 5 years.

The grants are Academic Competitiveness Grants and the National Science and Mathematics Access to Retain Talent (SMART) Grants. These grants are intended as an incentive for high school students to participate in more challenging college majors that are in high demand in the global economy, such as science, math, technology, engineering and critical foreign languages.

To be eligible for these new Academic Competitiveness Grants, a high school or college student must be Pell Grant eligible and have completed high school course work as defined by their state and recognized by the Secretary of Education.

Eligibility Requirements for SMART Grants

In order to receive the SMART Grants, Pell Grant eligible students in their third and fourth year who meet the requirements will have to major in designated science, technology, math or critical foreign languages and maintain a 3.0 GPA. A complete list of eligible majors is available at www.federalstudentaid.ed.gov.

These Federal Grants reflect the historic support given to them by President Bush since he took Office. Under President Bush, grant funding has increased 4 billion over last year and is at historic highs.

You can get a FREE fact sheet on the Academic Competitiveness and SMART Grants from the U.S. Government at: http://www.ed.gov/about/inits/ed/competitiveness/ac-smart2.html.

Students may determine their eligibility for Academic Competitiveness Grants or SMART Grants, at http://federalstudentaid.ed.gov.

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