<p>I have a couple of questions about the smart grant. If you are transferring from a community college and won't official achieve third year standing until your final transcript is evaluated is it still possible to get a smart grant? Do those funds run out?</p>
<p>The SMART grant funds are like Pell … they are there if you qualify. The problem for you, though, is that you have to actually have junior standing in order to get the grant. The good news is, once you get it, you’ll be paid the grant. So if you begin the fall semester as a sophomore but become a junior sometime during the fall semester when the credits get posted, you’ll be eligible for the grant. This is new this year … the ACG & SMART are awarded strictly based on year-in-school-status (fr/soph/jr/sr). If you are not a junior when the semester starts, you won’t get a SMART year 1 that semester. The exception is transfer students whose grades are posted mid-semester - they become eligible when the credits post. Most likely, you will need to contact your financial aid office when the credits do post, because they might not get an update.</p>
<p>Remember, though, that there is a cumulative gpa check before each semester’s disbursement. The gpa from the grades that transferred will have to be at least 3.0 or you won’t get the grant (unless/until you pull the gpa up to 3.0).</p>
<p>Thanks, that is exactly what I wanted to know.</p>
<p>One more thing, is the smart grant only good for two years? I’m in a five year program. Is it possible to draw on it for that extra year?</p>
<p>At my daughter’s school there is one specific degree (not hers unfortunately though she may be double majoring and going into a 5th year, of course we are delighted she has the 2 years) that they list as being a 5 year program and eligible for a 3rd year of SMART. Perhaps your financial aid department can give you that information about your program.</p>
<p>Of course they seem to change the SMART grant rules every year so who knows what the rules would be by the time you reach the 5th year.</p>
<p>Yes, you can get it a third year IF the program is officially recognized by the university as a five-year program. Some of the engineers at my school told me that engineering is a five-year program, so I checked with the dean. It takes most students five years to complete, but it is not a five year program - so no third year of SMART eligibility for those students. Check with your school’s financial aid office.</p>
<p>Thanks. I’m pretty sure it is officially a five year program. It’s listed as a five year program on their website, at least. I’ll check with financial aid to be sure.</p>