Federal Aid CAPS Students might be eligible for:

Pell Grant
The Pell Grant is a federal grant that is given based on the need of the student. To determine if you are eligible for this grant you must complete the Free Application for Federal Student Aid or FAFSA. The maximum amount you may be eligible for as a full-time student was $5,350 during the 2009-2010 , for example. Depending on need and the number of hours that you are enrolled in, that amount may be as little as $486. Since this is a need-based grant not everyone who applies will be eligible.

Academic Competitiveness Grant (ACG)
The Academic Competitiveness Grant provides up to $750 for the first year of undergraduate study and up to $1,300 for the second year of undergraduate study. To receive an ACG, a student must be Pell eligible students (see Pell Grant for criteria) be enrolled at least half-time, be a first-year or second-year undergraduate student have completed a rigorous secondary school program of study, and if a first-year student—have completed secondary school after Jan. 1, 2006 or if a second-year student—have completed secondary school after Jan. 1, 2005, and have at least a 3.0 grade point average as of the end of the first year of undergraduate study.

National Science & Mathematics Access to Retain Talent Grant (SMART Grant)
The SMART Grant is available during the third and fourth years of undergraduate study to full-time students who are eligible for Pell Grant (see Pell Grant for criteria) and who are majoring in physical, life, or computer sciences, mathematics, technology, or engineering or in a foreign language determined critical to national security. The student must also be enrolled in the courses necessary to complete the degree program and to fulfill the requirements of the intended eligible major in addition to maintaining a cumulative grade point average (GPA) of at least 3.0 in course work required for the major.

Federal Direct Loans
A long-term need-based loan for eligible students. These loans are funded by the government to students for the purpose of aiding in the education process. If you are a student enrolled in an eligible program of study at least half-time, you may receive a Direct Loan. To determine eligibility you must complete the Free Application for Federal Student Aid (FAFSA) and meet other general eligibility requirements. In addition, a promissory note must be completed. Direct Loans are either subsidized or unsubsidized.

• Subsidized Direct Loan
  Subsidized Direct Loans are awarded on the basis of financial need. You will not be charged any interest before you begin repayment or during authorized periods of deferment. The federal government "subsidizes" the interest during these periods.
• Unsubsidized Direct Loan
  Unsubsidized Direct Loans are not awarded on the basis of need. You will be charged interest at a rate of 6.8 percent, from the time the loan is disbursed until it is paid in full. If you allow the interest to accumulate, it will be capitalized -- that is, the interest will be added to the principle amount of your loan and additional interest will be based upon the higher amount. You may receive a subsidized loan and an unsubsidized loan for the same enrollment period.

Direct Loan Levels