Grants are available from the government and from colleges. By submitting the FAFSA, you will be given eligibility consideration for all federal and state grants. Many grants are based on your financial need. Grants are considered gift aid and they do not need to be repaid.
Some examples of grants are:
- Federal Pell Grant
- Federal Supplemental Educational Opportunity Grant
- Academic Competitive Grant
- Illinois Monetary Award Program (MAP) Grant
- Silas Purnell Illinois Incentive for Access (IIA) Grant
- Grants from colleges
FEDERAL PELL GRANT
Federal Pell Grant is based on need only. It does not have to be repaid. Eligible students receive a specified amount each year. In 2009-10, the maximum Pell Grant is $5,350.
To apply for a Pell Grant you must COMPLETE AND SUBMIT YOUR FAFSA. Most Pell awards go to students with family incomes below $20,000. However, you may be awarded a Pell Grant if your family income is less than $50,000.
The college you choose to attend will decide how you get the Pell Grant - whether it is applied to tuition or given to you in a check to pay other expenses.
It is important to submit your FAFSA early in order to be considered for this grant. There is a limmited number of funding available and it runs out quickly. In 2011 all Pell Grant money had been awarded by March.!
FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT (FSEOG)
By submitting the FAFSA, you'll be considered for the FSEOG. This grant is available to undergraduate students with the greatest need. First priority is given to Pell Grant recipients. Awards range from $100 to $4,000 per year.
FSEOG awards come through the college, but not all schools have FSEOG money. Those that do may run out of funds. So it is important to COMPLETE AND SUBMIT YOUR FAFSA early.
To find out if the colleges where you are applying have FSEOG grant money, ask the college financial aid offices.
ACADEMIC COMPETITIVENESS GRANT (ACG)
ACG grants are available to students only during their first and second years of college. Students become eligible after they submit their FAFSA. Up to $750 is obtainable for the first year of undergraduate study and up to $1,300 for the second year of undergraduate study.
Students must be full-time, eligible for a federal Pell Grant and have successfully completed a rigorous high school program. Second-year students must maintain a cumulative GPA of at least 3.0.
ILLINOIS MONETARY AWARD PROGRAM (MAP) GRANT
The MAP grant is available to Illinois residents who will attend approved Illinois colleges and demonstrate financial need based on the information provided on the FAFSA.
The MAP grant can be applied only to tuition and fees.
The number of MAP grants is limited. This means that there may not always be money available, so it is important to COMPLETE AND SUBMIT YOUR FAFSA early.
SILAS PURNELL ILLINOIS INCENTIVE FOR ACCESS
The IIA Program provides grants of up to $500 to Illinois residents with zero EFC will to attend an approved Illinois college. If the information you provide on the FAFSA results in a calculated zero expected family contribution, you may be awarded an IIA grant.
The number of IIA grants is limited. This means that there may not always be money available, so it is important to COMPLETE AND SUBMIT YOUR FAFSA early.
GRANTS FROM COLLEGES
Colleges provide grants based on various criteria. Contact the college's financial aid office to find out more about the grants offered by a college.