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Grants

The average cost of college with living expenses can get expensive.  The purpose of  college grants is to make your education more affordable. These grants are available to students who need and qualify for financial assistance.

College Affordability Grant

 Purpose: The purpose of the College Affordability Grant is to encourage New Mexico students with financial need – who do not qualify for other state grants or scholarships – to attend and complete educational programs at a public New Mexico college or university..

How much is the award? Maximum of $2,000 per year. Renewable if student maintains satisfactory progress. May receive grant for a total of eight consecutive semesters as long as Pell Grant eligibility is maintained and funding is available.

What are the eligibility requirements? New Mexico residents; undergraduate; must demonstrate financial need as determined by the Free Application for Federal Student Aid (FAFSA). May not be receiving any other state or federal grants (other than Pell Grant) and scholarships. Enrolled at least half-time (6 credit hours). Award will be prorated based on enrollment status.

When is the deadline?  Deadlines & Application: March 1 Free Application for Federal Student Aid (FAFSA) and April 15 to complete the file.

 

Pell Grant

Qualifications: Undergraduate students only

Annual Amount: Up to $5,920 (2017-18 award year)

Deadlines & Application: Free Application for Federal Student Aid (FAFSA)

Description: 

Federal Supplemental Educational Opportunity Grant

 Qualifications: Undergraduate students only (must be Pell Grant recipient)

Annual Amount: Up to $2,000

Deadlines & Application: March 1: Free Application for Federal student Aid (FAFSA); April 15: complete file

Description: Similar to Pell Grants, Federal Supplemental Educational Opportunity Grants are given to students with high financial need who qualify for Pell Grants. No application is necessary other than the early completion of the FAFSA, and they do not have to be repaid.

Unlike Pell Grants, the university is given a set amount for Federal Supplemental Educational Opportunity Grants, and all qualified applicants are not guaranteed funding. They are awarded on a first-come, first-serve basis to those who have qualified for Pell Grants and, by preference, to out-of-state students. This preference is because the State Student Incentive Grants, funded by both federal and state sources, are identical to the Federal Supplemental Educational Opportunity Grants in amount, but are reserved for New Mexico residents.

The maximum Federal Supplemental Educational Opportunity Grant is $2000 for single parents with EFCs of zero, but, the amount will depend on your financial need, the number of eligible students, and the total funding available when your file is complete. The lower your EFC, the larger the amount likely to be funded; however, funding is not guaranteed. The sooner your FAFSA is completed and your EFC received, the more likely it is you will receive a Federal Supplemental Educational Opportunity Grant.

State Student Incentive Grant

Qualifications: Undergraduate students only (must be Pell Grant recipient); New Mexico resident.

Annual Amount: Up to $2,000.

Deadlines & Application: Up to $2,000.Deadlines & Application: March 1: Free Application for Federal student Aid (FAFSA); April 15: complete file

Description:Similar to Pell Grants, State Student Incentive Grants are given to students with high financial need who qualify for Pell Grants. They do not have to be repaid.

Unlike the Pell Grant, the university is given a set amount by the state for State Student Incentive Grants, and all qualified applicants are not guaranteed them. They are given on a first-come, first-serve basis to those who have qualified for Pell Grants and, by law, to state residents. They are identical to the Federal Supplemental Educational Opportunity Grants in amount, with a $2000 maximum for single parents with EFCs of zero.

 

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