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HEA 101: ACG/SMART/TEACH Grants

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Update
On November 23, 2009, the Department of Education issued final regulations dealing with the ACG, SMART, and TEACH grant programs.    

Overview
 

ACG and SMART 

In addition to making changes to the existing Title IV student aid programs, the Higher Education Reconciliation Act of 2005 (HERA) (PL 109-171) created and funded two new grant programs for certain students: the Academic Competitiveness Grants (ACG) and National Science and Mathematics Access to Retain Talent (SMART) grants. Institutions that participate in the Pell Grant program must participate in these grant programs. The ACG grants provide $750 for first year students and $1,300 for second year students who have completed a rigorous high school program of study. The SMART Grants provide $4,000 for B-average students enrolled in their third, fourth year, and in some cases, fifth year of study majoring in specific programs determined to be in the national interest.

The grants were available for students within five months of their creation but they have been difficult to administer and consequently were amended in subsequent pieces of legislation, including the recently passed Higher Education Opportunity Act (HEOA), PL 110-315. Neither grant program was extended in the HEOA and unless reauthorized will expire after the 2010-11 academic year.

TEACH 

UPDATE: Updated Listing of TEACH Grant Eligible Institutions  The is a list of colleges that are eligible to participate in the TEACH Grant program that provides $4000 per year for students who study to become teachers and fulfill the required service obligation. 

The Teacher Education Assistance for College and Higher Education (TEACH) Grant Program, provides up to $4,000 a year in grant assistance to academically-qualified students who plan on becoming teachers and teachers who are obtaining graduate degrees. It was created by the College Cost Reducation and Access Act (CCRAA), PL 110-84 and amended by Pub.L. 110-153, a technical corrections bill.In exchange for the grant, candidates must agree to serve as a full-time teacher at schools with high percentages of low-income students and within certain fields, such as science and math, for at least four academic years within eight years after completing the course of study for which the candidate received a grant. If the candidate fails or refuses to carry out his or her teaching obligation, the amounts of the TEACH Grants received are treated as an unsubsidized Direct Loan and must be repaid with interest accruing from the date the grant is first received.

Institutions may choose whether to participate in the program or not. Many educators are concerned about the structure of this program because it is estimated that 80 percent of the students who receive the grants as undergraduates will not become teachers.