Federal Grant Program - The federal government provides grant funds for students attending colleges, including career colleges and universities. Grants, unlike loans, do not have to be repaid. The major federal student aid grant programs are briefly described below.

http://studentaid.ed.gov/PORTALSWebApp/students/english/index.jsp

Federal Pell Grant

Generally awarded to students with exceptional financial need who have not earned a bachelor’s or graduate degree Up to $5,550.

Academic Competitiveness Grant

First Year -

• Must be eligible for a Pell Grant

• Must have graduated from high school after Jan. 1, 2006

• Must have completed a rigorous secondary school

program of study

• Must be enrolled at least half-time

Up to $750

Second Year-

• Must be eligible for a Pell Grant

• Must have graduated from high school after Jan. 1, 2005

• Must have completed a rigorous secondary school

program of study

• Must be enrolled at least half-time

• Must have at least a 3.0 GPA at the end of the first year

of postsecondary study

Up to $1,300

• Awarded to students with exceptional financial need who

have not earned a bachelor’s or graduate degree

• Federal Pell Grant recipients receive priority

• Not all colleges participate in the FSEOG program

• Funds depend on availability at the college; you should

apply by your college’s deadline

Up to $4,000

• Must be eligible for a Pell Grant

• Must be enrolled at least half-time in third or fourth year (or fifth year of a 5-year program)

• Must be in an eligible degree program majoring in physical, life, or computer sciences, engineering, technology, mathematics, or a critical-need foreign language

For additional information on federal student aid, call 1-800-4-FED-AID or visit www.FederalStudentAid.ed.gov/funding

Federal Student Loans Program Will you need a loan to attend college? If so, think Federal Aid First. Federal student loans usually offer borrowers lower interest rates and have more flexible repayment terms and options than private student loans.

• Must not have negative credit history Maximum amount is cost of attendance minus any other financial aid the student receives

• Must have applied for annual loan maximum eligibility under the Federal Subsidized and Unsubsidized Stafford Loan Programs before applying for a Graduate/Professional PLUS loan Maximum amount is cost of attendance minus any other financial aid the student receives

For additional information on federal student aid, call 1-800-4-FED-AID or visit www.FederalStudentAid.ed.gov/funding.

2)  Watch your mail for a Student Aid Report (SAR). 
      You should receive this within 4 - 6 weeks, after the FAFSA has been processed. 
      Information is also sent to the college(s) named on the FAFSA.  If you don't receive
      a SAR on time, or if you need another copy, call (319) 337-5665.

3)  Check with the college(s) you are considering;
      they may require additional applications or forms.

4)  You'll receive an award letter from the financial aid office of each college you
      specify.   This document indicates the types of aid you are eligible to receive. 
      Your financial aid eligibility is the difference between the cost of education
      and the Expected Family Contribution (EFC). 
      The federal government performs a needs analysis to determine your EFC. 
      The cost of education includes tuition and fees, room and board,
       books and supplies, transportation, and misc. expenses.

Your Social Security card and Driver’s License.

Your income tax returns, W-2 forms and 1040 forms for the previous year.

 Your parent’s income tax returns, W-2 forms and 1040 forms
for the previous year (if you are dependent).

Records and documentation of other untaxed income received such as
welfare benefits, Social Security income, veteran’s benefits, AFDC,
or military or clergy allowances.

Business or farm records (if applicable).

Records relating to unusual financial circumstances, such as medical and
dental expenses not covered by health insurance, tuition expenses at elementary
or secondary schools, unusually high child care costs, death, divorce and
loss of employment.  (These aren’t required, but they could influence the amount received.)