Free College Grants, School Grants, Student Financial Aid Information
Paying for college generally is one of the most difficult aspects of education.
According to figures supplied by the U.S. Department of Education National Center for Education Statistics, the cost of a college education (undergraduate tuition, room, and board) rose 37 percent for private institutions and 25 percent for public institutions, after adjusting for inflation. This is for the cost comparison of the academic year 1999-2000 vs. 2009-10.
A lot of potential college students end up struggling to cover the costs of a college education and asking themselves “how to get money for college and how to pay for college?” Fortunately, there are numerous opportunities to help fill in the gap. Awards, scholarships, and grants are things to be considered, in addition to student loans, as ways that can help make college affordable. On this website you can learn the answer to the questions “how does financial aid work for college?” and “Do you have to pay back financial aid?” In the case of college grants, it is like getting free money for students. In the case of student loans, you pay them back after leaving college.
What is a Grant?
If you are still asking yourself, “What is a grant?” A grant can be issued by the government on the federal or state level. It is generally awarded on the basis of financial need. There are also grants from foundations, corporations, and professional societies that may be issued on the basis of merit, financial need, or both. Once again, you do not need to repay a grant.
You may be asking yourself, “how can I find a grant to help pay for my college education?” The goal of this website is to help you to sort through the myriad of grants available so you can find a grant for which you may be qualified. As you search through the tabs on the left and right side of this website, you may be able to hone in on a college grant that is just right for your needs.
There are also a few grants that are listed among these pages that may be geared toward your professional and academic development after college graduation, as well.
Some grants and scholarships may require a certain ethnic or religious background. Most of them, of course, are related to academic performance as well. Listed here on this website, although dedicated to college grants, you will also find some information regarding student loans and scholarships.
Returning to the subject of college grants, since it does not have to be repaid, it is best for all students to investigate the possibilities of getting a grant to help pay for college. The purpose of the college grant is to help the student who meets certain criteria to afford to pay for college tuition, fees, books, and other costs associated with earning a college degree. Some college grants can be quite substantial, such as the Pell Grant which is awarded to U.S. citizens and qualified resident aliens studying in the United States. The awarding of a Pell Grant is based primarily upon financial need. The student’s status (full-time vs. part-time) is also taken into consideration. While some college grants are awarded in the form of monetary compensation, others are administered directly to the academic institutions to help the student pay college tuition and fees.
Grants or loans may be split into the following main categories:
- Degree Diploma-specific
- Population-group based.
USA Sources Of Funding For College Grants
Funding for college grants in the USA primarily stems from the following sources:
- The US Federal government and state governments
- Colleges and universities
- Public and private organizations
Criteria For Determining College Grants Eligibility
State and federal bodies generally finance student grants, which can typically be based on financial need and academic ability. Other issuing bodies may also consider:
- athletic abilities,
- special talents,
- ethnic background, or
- religious background.
Most of the time your family’s revenue will also be taken into consideration.
How Are College Grants Administered?
Government grants tend to be transferred directly into the tuition balances, but sometimes there is instead a transfer of money to the student. There are two forms of US government college grants:
- The most famous US government grant for college is the Pell Grant.
- In addition, the US government also offers the Federal Supplemental Education Opportunity Grant (FSEOG).
Applying For a College Grant
As long as you graduate from college after receiving a FSEOG, you will not have to repay the grant. In order to apply, you must complete a form called the Free Application for Federal Student Aid (FAFSA).
To apply for a college grant with FAFSA you will also need a Personal Identification Number (PIN).
High school students should visit the FAFSA website and start applying for college grants as soon as possible in early January of their senior year. In addition, the US Department of Education begins to accept FSEOG applications after the first of January every year. It is also possible to complete the application online, and this may help speed up the processing, which can allow you some extra time to take a good look at your options. So when you ask yourself the question, “how am I going to pay for college?” you’ll be ready with the answers and be able to come up with a feasible plan.
Remember that there is only a limited amount of funding available each academic year. For that reason, it is best to apply for a federal grant as early as you can. The same advice applies to state grants as well, because once the state has run out of allotted funding for that academic year, even a qualified high school student with proven financial need may not be able to receive a grant. For more details see our blog about when to apply for a college grant.
How to Pay for College By Combining Work and Study
There are programs by the federal government and most campuses across the United States to help students find part-time jobs at the university itself. This helps students can also use their wages to help pay some of the expenses associated with attending college.
Federal funding is the central element of any type of college training. A lot of people in the United States wouldn’t even have the opportunity to go to college without having financial assistance of some sort, whether in the form of grants, scholarships, or student loans.