Government grants are lawful giveaways by several government authorities for the citizens of United States of America. Among the different types of grants accessible, college grants are those that assist pupils to follow up on an education of their choice without concerning about the money required. Often, people who qualify for these grants are not aware of how to apply and get one.
Numerous people cannot afford college education and usually turn to the more conventional mode of getting money through loans. Some fortunate ones might also apply and receive scholarships. However, the simplest way to afford college is through college grants. College grants are considered the greatest mode to get funds necessary for a college education. The government gives away millions of dollars each year as college grants to assist those individuals qualified for it.
Scholarships and college grants are similar in the sense that they are monetary funds that require no repayment. Not always does college grants are determined on the family’s income. A college grant is usually based on a variety of aspects, including economic need, student status, ability to pay and academic necessities. The Federal government and the state governments both give out grants to the individuals. Certain Federal grant programs help students in several ways. The Pell grant is one of the oldest and assists in giving financial support for low-income students. This grant program has remained a precious source of money for undergraduate students who cannot afford college.
The second grant is the Academic Competitive Grant, which is given away to freshman students who demonstrate excellent academic records and supreme aptitudes for leadership and service. The final federal college grant is the National Science and Mathematics Access to Retain Talent Grant. This grant awards at least $4000 to undergraduate students studying mathematics, sciences, computer sciences, etc. State governments usually give grants based on the need, merit and the area of study.
College grants are of two types. Need-based grants and merit grants. Need-based grants are those, which are granted to people who cannot attend college without it. There are certain aspects that determine your eligibility for a need-based grant like – the number of dependents in the family, family income, family assets beyond the family income, etc. Merit grants are given away to those who show a fairly good academic record and excellent aptitudes. The eligibility depends greatly on the overall academic performance and the high school GPA.
In order to apply for college grants, you will first have to file a FAFSA. The FAFSA is the application form for most Federal and also State grants.