A grant is money set aside by both the state of Arkansas and the federal government for students who need it to pay for college. The most common federal education grant is the Pell Grant. Education grants do not need to be repaid.
Financial aid packages may include more than one type of award. However, the combined total of all awards must not exceed a student’s cost of attendance (COA). If a student’s financial aid package exceeds his/her COA, awards will be adjusted according to federal, state, and institutional guidelines.