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The National Science and Mathematics Access to Retain Talent (SMART) Grant program, run by the United States Department of Education from 2006 to 2011, aimed to increase the number of college graduates majoring in science, technology, engineering, and mathematics (STEM) fields, with particular focus on increasing participation of lower-income students. Using nationally-representative data from the 2015 National Survey of College Graduates, we evaluate the efficacy of the SMART Grant program in increasing STEM participation. We find the program significantly increased the probability of earning a STEM degree among first-generation college graduates whose parents had some prior college experience. However, among graduates who were first in their family to attend college, we find no evidence of any effect.