The government announced Monday it would help families struggling to pay for college and graduate school in the first phase of the College Scorecard.
The program is meant to provide help to students who have families that struggle to pay tuition and other expenses.
The Department of Education will match up to $5,000 per student for up to three years.
The White House said the plan will help students who can’t afford to pay up front and the most vulnerable.
President Donald Trump has made it a priority to help students with student loans, and the program will help them make ends meet, said Kathleen Sebelius, acting secretary for the Education Department.
“It’s important for students to be able to attend college, and we’re going to continue to help them,” she said.
The department said it will give $3 million for a second round of financial aid for low-income students, and $3.5 million for families who can pay for up-front tuition and fees.
The $4.8 billion College Scorecards is a new federal initiative to help low- and moderate-income college students and families.
It has a target of $6,000 for low income students and $9,500 for families.
The first round of the program includes $1,000 scholarships for students who are in school full-time, but not enrolled full- or part-time.
They will also receive a $500 cash grant, and will also get a $2,000 loan forgiveness.
It also includes grants for families with incomes of $100,000 or more.
The third round of funding will include grants for up from $500 to $2 million for low and moderate income students, according to the department.
Trump has made college a top priority and pledged to help millions of students afford college, as he does for his own children.
He has also said he wants to help families with student debt pay for it.
In addition to helping students pay for tuition and related expenses, the CollegeScorecard is intended to help the government provide more aid to low- to moderate- income students.
The government will give students a maximum of $2 per month for up four years.
Students who do not meet the eligibility criteria can still apply for federal financial aid, the department said.
The program is similar to the one created in the 1960s, which allowed students who were living in poverty to receive free tuition and required a low income of up to 50 percent of the federal poverty level.