The Department of Education on July 1 made $790 million in extra college aid for the 2006-07 academic year available to about 500,000 students nationwide. The grants will go to students who already qualify for Pell Grants and meet certain academic requirements. Congress created the grants as part of the Deficit Reduction Act of 2005, passed in February.
Students who have taken rigorous courses in high school will be eligible for Academic Competitiveness Grants, up to $750 in additional aid during freshman year and $1,300 during sophomore year, if they maintain a 3.0 grade point average.
College juniors and seniors majoring in mathematics, science, technology, engineering, or critical foreign languages are eligible for National Science and Mathematics Access to Retain Talent, or SMART, grants, of up to $4,000 in extra aid per year.
