The Alaska legislature created the Alaska Education Grant (AEG) program to provide need-based financial assistance to eligible Alaska students attending qualifying postsecondary educational institutions in Alaska.
Beginning with the 2013-2014 school year, the grant is funded through the Alaska Higher Education Investment Fund, a new source of long-term funding for AEG and Alaska Performance Scholarship (APS) awards established in 2012 by the Alaska legislature.
How much is the award?
Grant awards typically range from $500 to $4,000 per academic year for students who have qualifying unmet financial need. Criteria determining award priority includes:
- Financial need of the student, determined by their Estimated Family Contribution (EFC)
- Date of filing the Free Application for Federal Student Aid (FAFSA)
- Prior recipient of the AEG beginning 2015-2016
- School enrollment at full-time vs. half-time status
Students with the highest financial need will be awarded in order of need until funds are exhausted. Students enrolled in 15 credits per semester may be eligible for an increased award amount. A student may not receive more than a total of $16,000 in AEG award money over the course of their education.