Federal Academic Competitiveness Grant (ACG): The Federal Academic Competitiveness Grant (ACG) is a grant program for first and second-year students who graduated from high school after January 1, 2005. To be eligible, students must be a U.S. citizen or eligible non-citizen, be a Federal Pell Grant recipient, be enrolled at least half time, and complete a rigorous high school program approved by the Secretary of Education. For second year renewal, students must have at least a cumulative 3.00 grade point average on a 4.00 scale. The ACG will provide up to $750 for the first year of undergraduate study and up to $1,300 for the second year of undergraduate study.

The National Science & Mathematics Access to Retain Talent Grant (National SMART Grant):  The National Science & Mathematics Access to Retain Talent Grant or National SMART Grant is available during the third and fourth years of undergraduate study for students that are enrolled at least half-time. To be eligible, students must be a U.S. citizen or eligible non-citizen, be enrolled in a degree program at a four-year, degree-granting institution, major in physical, life or computer science, engineering, mathematics, technology, or a critical foreign language, have at least a cumulative 3.00 grade point average on a 4.00 scale in the coursework required for the major, and have less than 120 cumulative hours. A national SMART Grant will provide up to $4,000 for each of the third and fourth years of undergraduate study.

Loans

Federal Stafford Loans:  Southeast provides Stafford Loans through the Federal Family Education Loan (FFEL) Program, which receives its funds from private lending institutions.  These loans have a variable interest rate of 6.0% on the Subsidized Stafford Loans and 6.8% on the Unsubsidized Stafford Loans. To be considered for a Stafford Loan, you must complete the FAFSA.  Your eligibility will be based on the Expected Family Contribution (EFC), as determined by the FAFSA, Southeast’s Cost of Attendance (COA), other aid received and your grade level.  If you are a Freshman with zero to 29 credit hours earned, you have a maximum annual eligibility of $5,500 ($3,500 base amount, plus an additional $2,000 in unsubsidized).  If you are a Sophomore with 30 to 59 credit hours earned, you have a maximum annual eligibility of $6,500 ($4,500 base amount, plus an additional $2,000 in unsubsidized). If you are a Junior or Senior with 60 or more credit hours earned, your maximum annual eligibility will be $7,500 ($5,500 base amount, plus an additional $2,000 in unsubsidized).  The actual amount you qualify for may be lower if your total aid awarded would exceed the COA at Southeast.

If you are determined to have financial need, you will be awarded a Subsidized Stafford Loan.  The federal government will pay the interest on this loan while you are enrolled at least half-time and for six months after you graduate, leave school or drop below half-time enrollment.  After this time period, you will be required to begin repayment and you will become responsible for the interest and principal payment.

If you do not have financial need or you have loan eligibility in excess of your financial need, you will be awarded an Unsubsidized Stafford Loan.  Although you will not be required to begin repaying the principal of this loan until six months after you graduate, leave school or drop below half-time enrollment, you will be responsible for all interest that accrues during this time.  You can choose to pay the interest as you attend college or to capitalize the interest and have it added to the loan principal when you begin repayment.

Federal PLUS Loans:  The Federal Parent Loan for Undergraduate Students (PLUS) allows parents of dependent, undergraduate students with good credit histories to obtain educational loans for their dependents.  While PLUS is a federal loan, the funding is provided by private lending institutions.  You do not have to have financial need to be awarded a PLUS Loan; however, you must complete a FAFSA with parental income information and indicate an interest in student loans on the FAFSA.

A parent may apply for the entire cost of education for an academic year LESS any other financial aid the student is eligible to receive. The parent borrower is responsible for all interest that accrues on the PLUS loan and must begin repayment within 60 days after the loan i fully disbursed.  PLUS Loans have a fixed interest rate of 8.5% throughout the life of the loan and a 3% origination fee will be deducted from each disbursement by the lender.

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