Federal Financial Assistance Programs

• Federal Pell Grants are available to students with exceptional financial need, as determined by the Department of Education.
• Federal Supplemental Educational Opportunity Grants (SEOG) are available to students with exceptional financial need. Priority is given to Federal Pell recipients.
• Academic Competitiveness Grants (ACG) are available to students for their first and second years of college who are also Pell Grant eligible. AC grants are $750 for first-year students and $1,300 for second-year students. Students must be full time and have a 3.0 cumulative GPA and completed a rigorous secondary school program of study.
• Natural Science and Mathematics Access to Retain Talent (SMART) Grants are available to students for their third and fourth years of college and who are also Pell Grant eligible. SMART grants are $4,000 for eligible students. Students must be full time and have a 3.0 cumulative college GPA and be pursuing a major in mathematics, science (including physical, life, and computer sciences), technology, engineering, or a critical foreign language.
• Federal TEACH Grant Program provides up to $4,000 a year in grant assistance to undergraduate, post-baccalaureate students who agree to serve for at least four years as full-time "highly qualified" teachers in high need fields AND http://www.ed.gov/about/offices/list/ope/pol/tsa.doc in public or not-for-profit private elementary or secondary schools that serve students from low-income families. https://www.tcli.ed.gov/CBSWebApp/tcli/TCLIPubSchoolSearch.jsp. A TEACH Grant recipient who does NOT complete the required teaching service within eight years of completing his/her academic program, or fails to meet other requirements of the TEACH Grant Program, MUST replay the TEACH Grant as a Direct Unsubsidized Stafford Loan with interest, accrued from the date the TEACH Grant was disbursed.
• Federal Work Study provides on-campus employment opportunities for students with demonstrated financial need. Work awards are typically $800-$1,200 per year.
• Direct Stafford Loans are need-based, long-term, low-interest loans. Repayment begins six months after graduation, withdrawal, or a drop to less than half-time enrollment. Amounts of the loan are determined by the student's year in college and enrollment status. Per federal regulations all students must attend an entrance and an exit interview session.
• Direct Unsubsidized Stafford Loans are long-term, low-interest loans available to all students regardless of financial need or family income. Repayment begins six months after graduation, withdrawal, or a drop to less than half-time enrollment. Amounts of the loan are determined by the student's year in college and enrollment status. Per federal regulations all students must complete an entrance and an exit interview session.
• Perkins Loans are need-based, long-term, low-interest loans awarded primarily to first and second year students. The loan is a joint Cornell College-federal program. Repayment begins nine months after graduation, withdrawal, or a drop to less than half-time enrollment. The Perkins Loan is repaid to Cornell College.