Gift-aid includes grants and scholarships. At Carleton, there is no difference to the student whether they have received a grant or scholarship from the college. Any student who applies for financial aid is checked to see if they have the appropriate characteristics for one of many Carleton scholarships. These characteristics may be geography, major, or talents the student has that were named by the donor of the scholarship. However, if a student did not qualify for one of the scholarships, their need is still fully met through a Carleton grant. All students are also checked to see if they are eligible for federal and state grants. A list and brief description of the major types of gift aid given at Carleton are shown below: •Pell Grants A federally funded grant program awarded directly to students from low-income families; maximum award is currently $5,775 per year, exact amount is determined by the Department of Education using FAFSA data. •SEOG (Supplemental Educational Opportunity Grant) Another federally funded grant program administered by the College that goes to high need families, especially if they received a Pell grant. Maximum award is $4,000 per year, amount determined by Carleton. •Carleton Grants and Carleton Scholarships Gift aid funded by Carleton College. These funds are made available from endowment earnings, gifts to the College, and the current year operating budget. Highly variable ($1,500 to $35,000+), the amount awarded by the college depends on the student’s need. No separate application is necessary to apply for Carleton grants or scholarships. A complete list of scholarships is available in the Carleton College Academic Catalog. •Minnesota State Grant A state funded grant program that can be used for Minnesota residents attending Minnesota colleges. Maximum award is $11,334 per year, exact amount is determined primarily by the FAFSA calculations. •Yellow Ribbon Carleton is approved to participate in veteran programs by the Veteran's Administration including the Yellow Ribbon Program. For more information please go here. •Outside aid is a broad category of gift-aid that is given to the student from sources other than Carleton or government programs. Most outside aid is in the form of scholarships that students have been awarded from local, state, or national organizations or businesses. To stay within a student’s calculated need, it is Carleton’s policy that outside aid be used to reduce the student’s self help, first by reducing the loan, second by reducing the work-study if all the loan has been previously reduced.