Types of Financial Assistance Grants
“Grants” are a type of financial assistance that do not require repayment. One specific type of grant referred to as the “Pell” Grant is a federal program designed to provide undergraduate students working toward their first degree with a foundation of financial aid. The financial need of the student is determined by a formula developed by the U.S. Department of Education and is applied equally to all applicants. The award is to be used for educational expenses which include tuition, fees, room and board, books, and supplies. To determine student eligibility, the U.S. Department of Education uses a standard formula, established by Congress, to evaluate the information as reported by the student on the “Free Application for Federal Student Aid” (FAFSA). The formula produces an “Expected Family Contribution” (EFC) number. The student will then receive an “Institutional Student Information Report” (ISIR) which contains the EFC number for eligibility determination. “Federal Supplemental Education Opportunity Grant” (FSEOG) is for undergraduates with exceptional financial need, that is, students with the lowest Expected Family Contributions (EFC). This grant gives priority to students who apply early and receive Federal Pell Grants.
For further information about different waivers, scholarships, grants, State or Tribal Vocational Rehabilitation Services, or Veteran’s Benefits, refer to Salish Kootenai College’s Student Success Guide.