The Higher Education Reconciliation Act of 2005 created two new grant opportunities for college students—the Academic Competitiveness Grant (ACG) and the National Science and Mathematics Access to Retain Talent Grant (SMART). Though these grants have already been in effect for two years, few students know about them. Below you will find information about the Academic Competitiveness Grant. For details concerning the SMART Grant, you may visit the Scholarships.com Blog or the Federal Student Financial Aid for College Section.
Academic Competitiveness Grant Overview
The Academic Competitiveness Grant is available to undergraduate students who are US citizens and who are enrolled in their first or second academic year at a two or four-year degree-granting institution. This grant is called competitive for a reason. To receive the award, students must have demonstrated their academic potential by having completed, successfully, a difficult program of study during high school. Those who are found to be eligible during their sophomore year of college must also maintain a minimum 3.0 GPA.
What one considers competitive can be a matter of option, but the Department of Education has set up some guidelines. Students who have completed a minimum of two AP or IB courses and those who have participated in the State Scholars Initiative or a similar program may be eligible for the grant. Students who meet the eligibility requirements can receive up to $750 for their first year of study and up to $1,300 for their second year of study.
Those interested in receiving the grant will have to submit a FAFSA. (Financial need is one component.) The Student Aid Report, a summary of answers reported on the FAFSA, will indicate whether a student is eligible to answer further ACG questions. If an ACG is granted, it will be awarded as a supplement to the Pell Grant money received by the student.