Since academic year 2006-7, a new federal grant for undergraduates who completed an academically rigorous high school program provides up to $750 for first-year and $1,300 for second-year students.
Federal Academic Competitiveness Grant Rewards High School Achievement
Trying to nail down your financial aid for the first two years of your undergraduate experience? If you took extra demanding classes in high school it could pay off now in ways you may not have anticipated.
The Federal Academic Competitiveness Grant is a new financial aid initiative offered by the U.S government since the 2006-2007 academic year. An Academic Competitiveness Grant provides up to $750 for the first year of undergraduate study and as much as $1,300 for the second year of undergraduate study to students who completed an academically challenging course load in high school.
The Higher Education Reconciliation Act of 2005 created the Academic Competitiveness Grant, along with the National Science and Mathematics Access to Retain Talent (SMART) Grant, to provide additional money for education to students with a demonstrated financial need and superior academic track record. The government hopes the new grant will drive secondary school students to pursue more Advanced Placement (AP), International Baccalaureate (IB), and other honors courses. Researchers have found a direct correlation between students who pursue advanced high school studies and those who achieve a successful college experience.
Eligibility Requirements Stress Challenging High School Program
To receive an Academic Competitiveness Grant, you must be enrolled in a full-time degree program at a two-year or four-year degree-granting educational institution. You must also already be the recipient of a Pell Grant award. (Federal Pell Grants are awarded to undergraduates who have considerable financial need as determined by the U.S. Department of Education's Estimated Family Contribution.)
The Academic Competitiveness Grant award is only bestowed on students in their first or second year of study. If you are in your first year you cannot have been enrolled in a previous undergraduate program. Second year students who wish to receive the grant must maintain a cumulative grade point average (GPA) of at least 3.0 on a 4.0 scale.
You should have successfully completed an academically demanding high school program, its quality recognized by the state or local education agency and also by the Secretary of Education. Your qualifying rigorous secondary school program should have been completed after January 1, 2006 if you are a first-year student, and after January 1, 2005 if you are a second-year student. Qualifying secondary school programs vary from state to state.
All Academic Competitiveness Grant recipients must be U.S. citizens.
The Application Process
To apply for the Federal Academic Competitiveness Grant, you simply need to answer all relevant questions when filling out your Free Application for Federal Student Aid (FAFSA). If you have already completed your FAFSA application, just return to www.fafsa.ed.gov, re-visit Step 3, and choose to "Make Corrections to a Processed FAFSA." You will then be guided through questions concerning your eligibility for the grant.
Source:
Student Eligibility Options for New Academic Grants, U.S. Department of Education