Grants:
Free Money for College
Grants are awards that do not have to be repaid.
Pell
Grant
A Pell Grant is a form of Federal Student aid that doesn’t have
to be repaid. By filling out the FAFSA, your Pell Grant eligibility
will depend on your Estimated Family Contribution (EFC). The award amount
will vary each year, but if you are eligible, you can receive up to
$4050. Certain factors including your EFC will determine your award
amount, but also your cost of attendance, your full or part time status,
and your attendance for the academic school year will have an impact
on your award amount.
You can only
receive one Pell Grant per school year. Your school will disperse the
funds either by crediting your account or giving you a check.
Federal Supplemental Educational Opportunity Grants (FSEOG's)
A FSEOG is for undergraduate students with the lowest estimated family
contribution and greatest need. A FSEOG is a grant and does not have
to be paid back.
Although
you may be eligible for an FSEOG, disbursement depends on the funds
available at your school. The grant can range between $100 and $4000
for each school year. Depending on your need, when you applied, and
the amount of funds your school has, you will be paid accordingly by
credit to your school account and/or by check.
Private
Grants
Private grants are essentially a source of free money for school. Usually
there are specific requirements that you must fulfill to be eligible
to apply. Those requirements may include GPA, gender, background, major,
or any number of criteria. Some may be very general and attract a large
number of applicants, while others may be very specific with only a
few eligible applicants.
Once you
find a grant that you are eligible for, you will be asked, at the very
least, to fill out an application. You may be required to write an essay,
send you academic transcripts, ask for recommendations, or even attend
an interview.
Finding and
applying for private grants can be a difficult process, but winning
them can be well worth the time spent.
Recommended
reading: How to Go to College Almost for Free
Paying
for College
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