Financing Your Alaska College Education
When you make the decision to attend college, one of the major hurdles blocking your path is funding. You ask yourself, how will I pay for this? There is good news; Alaska provides financial aid assistance. In fact, many grants exist to finance your college education. Grant eligibility is usually based on financial need, and the grants do not have to be repaid. Grants are primarily reserved for undergraduate students.
Alaska offers six main grants to undergraduate students; the following grants are available to students that qualify: Academic Competitiveness Grant, AKAdvantage Grant, Bureau of Indian Affairs (BIA), Federal Supplemental Educational Opportunity Grant, National Science and Mathematics Access to Retain Talent (SMART) Grant, and Pell Grant.
The Academic Competitiveness Grant provides a maximum of $750 for the first year of undergraduate education. This grant will cover up to $1300.00 of academic expenses for the second year of your undergraduate degree. The stipulation for this grant is that you be a full-time student that is currently eligible for a Pell Grant and a student that has completed a rigorous high school program. As a second year student, you must maintain a 3.0 grade point average. You can apply for this grant by submitting a FAFSA by April 15; the financial aid office at the college of your choice will make the award based on the FAFSA results.
An AKAdvantage Grant is a financial need based grant awarded to Alaska residents attending Alaska colleges. Students that are pursuing certain programs such as, teaching, allied health programs, and social and community services, are given priority. If you are attending school part-time, the yearly award is $500-$1000 per year. Full-time students receive from $1000-$2000 per year. In order to be considered for this grant, you must submit a FAFSA application by April 15 of the year attending school. Your school’s financial aid office will process the award when the FAFSA data is received in the office.
Bureau of Indian Affairs offers grant assistance to students that are 1/4 American Indian or Alaska Native. This is a need based grant that provides funds to full-time students that can show financial need. The BIA grant is meant to supplement other financial aid awards and provides from $300-$2000 per year. Students are encouraged to apply the January before attending college. You can contact the Bureau of Indian Affairs at the following website: http://www.bia.gov/WhoWeAre/RegionalOffices/Alaska.
A Federal Supplemental Educational Opportunity Grant is available for extremely needy students pursuing undergraduate studies. Alaska students that qualify can expect to receive awards from $1000-$4000 per year. Your FAFSA application must be turned in by April 15 of the year of enrollment. The FSEOG Grant is awarded through the school’s financial aid office.
The National Science and Mathematics Access to Retain Talent (SMART) Grant will provide up to a maximum of $4000 to Alaska students in their third or fourth year of undergraduate studies. The student must be eligible for the Pell Grant and pursuing a degree in computer science, language, physical science, mathematics, technology, or engineering. Applications must be in by April 15 of the year attending.
A Pell Grant award provides funds for students that are in great financial need. The need is based on several factors including the contribution from family. This grant provides assistance of $400-$4310 per year. The student must submit a FAFSA application. The deadline for the application is April 15 of the year of attendance.
Alaska has many financial aid grants available to qualifying students. You must research and see which grant fits your specific circumstance. Your college education is within your reach. Apply for a grant today.
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