By definition, grants are gifts of money to be used for a particular purpose. As it relates to financial aid, grants are gifts of money from federal, state, and institutional sources used to assist in the financing of a college education.
Federal Pell Grant--Awarded based on the greatest financial need with a maximum award of $5,645 for 2013-2014.
Federal Supplemental Education Opportunity Grant (FSEOG)--Grant designed as a complement to the Federal Pell Grant.
Federal Teacher Education Assistance for College and Higher Education (TEACH) Grant Program--Grant designed to encourage future teachers to teach high-need fields in designated low income schools.
Iowa Tuition Grant--Need-based grant available to undergraduate Iowa residents.
Iowa Grant--Exceptionally needy undergraduate Iowa residents may be eligible for this grant.
Luther Grant--Awarded to students based on financial need.