Federal Pell Grants
A Federal Pell Grant does not have to be repaid. Pell Grants are only awarded to undergraduate students who have not yet earned a bachelor's or professional degree. The Pell Grant program is targeted to high need students, your eligibility will also depend upon your Expected Family Contribution (EFC). Your EFC is calculated utilizing a formula established by Congress when your Free Application for Federal Student Aid (FAFSA) is processed. Amounts can change yearly. For the 2016-17 award year (July 1, 2016 to June 20, 2017), the maximum award is $5,815. Eligibility for Pell Grant funds is determined by your EFC and enrollment status (fulltime, 3/4 time, 1/2 time, less than 1/2 time). These grants of up to $5,775 are awarded to undergraduate students.
Federal Supplemental Educational Opportunity Grants (SEOG)
A Federal Supplemental Educational Opportunity Grant (FSEOG) is for undergraduates with exceptional financial need - that is, students with the lowest Expected Family Contributions (EFCs) - and gives priority to students who receive Federal Pell Grants. An FSEOG doesn't have to be paid back. These grants are made directly through the Office of Financial Aid to students. Grants of up to $800 may be awarded.