Grants are often called "gift aid" because they do not have to be repaid. Federal grants provide funds based on the student's total need. The University of Arkansas participates in three federal grant programs: Pell Grant, FSEOG, and Iraq and Afghanistan Service Grant. You must complete the Free Application for Federal Student Aid (FAFSA) to be considered for a federal grant. The FAFSA is required every school year in order to receive awarded funds for the respective year. Eligibility and amounts vary based on the calculated expected family contribution and a student's enrolled hours.