1 The amount you receive is determined by your school’s financial aid office. 2  This loan is limited to $5,500 per year for undergraduate students, with a cumulative limit of $27,000. 3  Federal Parent Loan for Undergraduate Students (PLUS). Like the Pell Grant, the FSEOG is available to students with exceptional financial need who have not already earned a bachelor’s degree. 2  Awards range from $100 to $4,000 per year and are given on a first come, first served basis. 3  Teacher Education Assistance for College and Higher Education (TEACH) Grant.