On February 8, 2006, President Bush signed the Higher Edcuation Reconciliation Act of 2005 (HERA) that created a new federal grant program entitled the Academic Competitiveness Grant (ACG) program. An eligible student may receive an Academic Competitiveness Grant (ACG) of $750 for the first year of academic study and $1300 for the second year of academic study. To be eligible for each academic year, a student must:
- Be a U.S. citizen or eligible non-citizen;
- Be a federal Pell Grant recipient;
- Be enrolled at least part-time in a degree program;
- Be enrolled in the first or second academic year of his or her program of study at a two-year or four-year degree granting institution;
- Have completed a "rigorous" secondary program of study identified by New York State Education Department and recognized as such by the Secretary of Education (after January 1, 2006, if a first-year student and after January 1, 2005, if a second-year student);
- If a second-year student, have at least a cumulative 3.0 overall grade point average on a 4.0 scale for the first academic year;
- Must be between 0-23 credit hours to receive Academic Competitiveness Grant for first year students ($750).
- Must be between 24-56 credit hours to receive Academic Competitiveness Grant for second year students ($1300).