ACADEMIC COMPETITIVENESS GRANT - Comments Off
ACADEMIC COMPETITIVENESS GRANT
An Academic Competitiveness Grant will provide up to $750 for the first year of undergraduate study and up to $1,300 for the second year of undergraduate study to full-time students who are eligible for a Federal Pell Grant and who had successfully completed a rigorous high school program, as determined by the state or local education agency and recognized by the Secretary of Education.
Second year students must also have maintained a cumulative grade point average (GPA) of at least 3.0. The program will be available for the first time for the 2006-07 school year for first year students who graduated from high school after January 1, 2006 and for second year students who graduated from high school after January 1, 2005.
The Academic Competitiveness Grant award is in addition to the student’s Pell Grant award.
Funds for college are at historic highs. In 2006 the Department of Education will make or guarantee more than $60 billion in low-cost student loans, a $4 billion increase over 2005 levels. Overall, $82 billion in grants, loans and other assistance are expected to benefit more than 10 million students – 413,000 more than last year.
More aid is being targeted toward the 21st century skills valued by employers. New Academic Competitiveness grants and SMART grants, which build on the successful Pell Grant program, will benefit more than half a million low-income college and college-bound students who took rigorous coursework in high school or who are majoring in math, science and critical foreign languages. These subjects are key to America’s economic competitiveness and national security.
This is an exciting and hopeful time for students and parents. As you prepare for college, we trust you will find this Web site helpful. Please visit us again soon.