Financial Aid Glossary of Terms
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ACG Grant
The Academic Competitiveness Grant (ACG) is a federal, need-based grant available to freshman and sophomore students who had completed a rigorous secondary school program of study and who have maintain a cumulative GPA of at least 3.0. This program does not have federally authorized funding beyond the 2010-2011 award year, and therefore will not be awarded beginning with the 2011-2012 award year.
FAFSA
The Free Application for Federal Student Aid. The FAFSA is the first step in the financial aid process and is used to determine eligibility for need based federal, state, and Lawrence Tech institutional aid programs. Based on the results of the FAFSA, students may be eligible for grants, loans, and work study. Complete the FAFSA online at www.fafsa.ed.gov.
SMART Grant
The National Science & Mathematics Access to Retain Talent Grant (National SMART Grant) is a federal, need-based grant available to junior and senior students who are pursuing a major in physical, life, or computer sciences, mathematics, technology, engineering or a critical foreign language; or non-major single liberal arts programs, and who maintain a cumulative GPA of at least a 3.0 GPA. This program does not have federally authorized funding beyond the 2010-2011 award year, and therefore will not be awarded beginning with the 2011-2012 award year.