Federal Pell Grant
A Federal Pell Grant does not have to be repaid. Pell Grants are awarded usually only to undergraduate students who have not earned a bachelor's or a professional degree. (In some cases, however, a student enrolled in a post-baccalaureate teacher certification program might receive a Pell Grant.) Pell Grants are considered a foundation of federal financial aid, to which aid from other federal and nonfederal sources might be added.
Students must complete the Free Application for Federal Student Aid (FAFSA). The amount of the award varies every year and is set by the U.S. Department of Education. The Student Financial Aid Office will automatically review students' applications and award Pell Grant to each student who qualifies. The amount awarded, will depend not only on financial need, but also on the cost of attendance, enrollment status, and length of the program. Students may not receive Pell Grant for more than 12 semesters or the equivalent (approximately 6 years).
Federal Supplemental Educational Opportunity Grant
The Federal Supplemental Educational Opportunity Grant (FSEOG) program is for undergraduate students with exceptional financial need. Pell Grant recipients with the lowest expected family contributions (EFCs) will be considered first for a FSEOG. Just like Pell Grants, the FSEOG does not have to be repaid.
Students must complete the Free Application for Federal Student Aid (FAFSA). Unlike the Pell Grant, schools are given an allotment from the U.S. Department of Education each year and when all funds have been exhausted, no further awards can be made. The amount of the award will vary based on the amount of money the school has been allotted, the number of eligible recipients, and the student's enrollment status.