OperatingBudgetManual2015

Operating Budget Manual – August 2010

the first year of study (freshman) and $1,300 for the second year (sophomore). Note: The amount of the ACG, when combined with a Pell Grant, may not exceed the student's cost of attendance. Like Pell, the ACG and SMART Grants do not have to be repaid. This program will end with the 2010-11 academic year. Federal National Science & Mathematics Access to Retain Talent Grant (National SMART Grant) – Fund#267-BF The National Smart Grant is available during the third and fourth years of undergraduate study to full-time students who are eligible for the Federal Pell Grant and who are majoring in physical, life, or computer sciences, mathematics, technology, or engineering or in a foreign language determined critical to national security. A National SMART Grant will provide up to $4,000 for each of the third and fourth years of undergraduate study. The amount of the SMART Grant, when combined with a Pell Grant, may not exceed the student's cost of attendance. This program will end with the 2010-11 academic year. Federal Scholarship for Disadvantaged Students (SDS) Program – Fund #265-AT To qualify for participation in the SDS program, schools must carry out a program for recruiting and retaining students from disadvantaged backgrounds. Institutions apply for SDS funds from the Department of Health and Human Services and are responsible for both selecting eligible recipients and determining their financial need. At least sixteen percent of the total allocations go to schools that direct SDS awards to nursing students. SDS funds awarded to schools must be used to award full or partial scholarships to eligible students enrolled full-time for tuition expenses, other reasonable educational expenses, and reasonable living expenses. Federal Teacher Education Assistance for College and Higher Education (TEACH) Grants – Fund#267-AM Beginning July 1, 2008, the TEACH Grant program will provide up to $4,000 a year in grant aid to undergraduate and graduate students and students enrolled in a post- baccalaureate teacher credential program, or current or prospective teachers. Eligible undergraduate and post-baccalaureate students may not receive more than $16,000 and graduate students may receive no more than $8,000 in total TEACH Grants. In exchange for TEACH Grant aid, students must agree to serve as a full-time teacher at specified schools and teach in a specified field for four academic years within eight years after completing the college course. TEACH Grant recipients that do not fulfill their teaching obligations must repay the grant as if it was an unsubsidized Direct Loan.

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