Billions of Dollars are given away in Grants each year!
College grants are financial aid that does not have
to be paid back. Learn more about federal and state grants. How to apply for
grants for college. What grants can pay for, and more.
What
Are Grants For College?
Grants for college are a type of financial aid that
you may not need to pay back. Grants for college students may help pay for
tuition, books, housing and other school expenses.
Like scholarships, student grants for college are
money that you can use to fund your education. Unlike student loans which often
require repayment, grants under certain conditions may only require the
recipient keep up with their studies and attend classes as scheduled while
receiving this benefit from an organization or government agency.
Who
Can Get Grants For College?
Any student attending college may be eligible for
grant money. Grants are typically need-based, so students with the greatest
financial aid needs may receive the largest awards. Students may apply for
federal, state and institutional grants when they fill out the Free Application
for Federal Student Aid (FAFSA®) form. The information collected on the FAFSA
form is used to determine your eligibility for federal, state and school aid.
Eligibility to receive a grant for college varies.
But to qualify for federal student aid one needs to meet a few basic
requirements below:
·
Be
a U.S. citizen or eligible noncitizen
·
Have
a valid Social Security number
·
Be
registered with Selective Service, if you’re a male between the ages of 18 and
25
·
Sign
the FAFSA form certifying that you will use federal student aid only for
educational purposes
·
Be
enrolled or accepted for enrollment as a regular student in an eligible degree
or certificate program
·
Not
owe a refund on a federal grant or be in default on a federal student loan
·
Maintain
satisfactory academic progress once in college
Types
Of Grants For College Students
Some grants may only be available to students from
certain backgrounds or who are studying specific subjects. Here are some of the
most popular types of grants for college:
Student grants for college are more often need
based but some are merit based too. These grants may have a performance
indicator. This might mean you need to maintain a certain GPA.
1.
Federal
Grants: Typically, the largest source of
college grant aid comes from the U.S. government. Students may receive federal
grants by completing the FAFSA form.
2.
State
Grants: Students may also be eligible
for state-sponsored grants. These programs vary by state, so students should
check with their state’s higher education agency to learn more.
3.
Institutional
Grants: Many colleges and universities offer institutional
grants to help their students pay for school. These grants are often based on
financial need, but some may be merit-based or awarded to students in specific
majors or programs.
4.
Private
Grants: Private organizations such as
foundations, corporations and religious groups also offer grant money for
college. These grants are often need-based, but some may be awarded based on
merit or for students studying specific subjects.
Federal
Grants That Pay For College
The U.S.
Department of Education (ED) offers
a range of federal grants. These need based grant programs provide students
with money for college. They are usually for students attending four year
colleges or universities, community colleges, and career schools. The amount of
money each person receives may depend on:
·
Your Expected
Family Contribution (EFC)
·
The
cost of attendance at your school
·
Your
enrolment status (full-time or part-time)
·
Whether
you plan to attend school for a full academic year or less
The four main types of federal grants that provide
funds for college are:
1. Federal Pell Grants:
These need-based grants are typically the largest source of federal grant
money. They are often awarded to eligible undergraduates who have not yet
earned a bachelor’s or professional degree.
1.
Federal
Supplemental Educational Opportunity Grants (FSEOG): FSEOG grants are typically
awarded to undergraduates with exceptional financial need. These grants are
often awarded by the school and range from $100 to $4,000 per academic year.
3. Federal Teacher Education Assistance for College and Higher Education
(TEACH) Grants: TEACH Grants are usually available
to students who plan to become teachers in high-need fields at schools that
serve low-income students.
4.
Iraq
and Afghanistan Service Grants: These need-based grants are often awarded to students
whose parent or guardian died as a result of military service in Iraq or
Afghanistan after September 11, 2001.
State
Grants That Pay For College
In addition to federal grant programs, many states
offer grant money for college. These state-sponsored grant programs typically
have less competition and may be easier to qualify for than federal grants.
The Department of Education in your state may help
you find grants to help you pay for college. Many states offer need based
grants in amounts determined by your FAFSA. You may need to maintain a GPA, be
a resident and/or pursue specific majors.
What
Are The Differences Of Grants and Scholarships?
The main difference between a grant and scholarship
is that scholarships are usually merit-based, while grants tend to be
need-based. Scholarships are awarded based on things like academic achievement,
athletic ability, or extracurricular involvement. Grants, on the other hand,
are typically awarded based on financial need.
Another key difference is that scholarships are
typically awarded by colleges, private organizations, or corporations. Grants,
on the other hand, are typically awarded by the federal government or state
governments.
Finally, scholarship money often does not have to
be repaid, while grant money may need to be repaid under certain circumstances
(such as if you withdraw from school or fail to meet other requirements).
So, if you’re looking for money to help pay for
college and don’t have the grades or test scores to qualify for a scholarship,
a grant may be your best bet. And if you’re having trouble coming up with the
money to pay back student loans, grants may also be
able to help with that.