Where to Find Grants
It is every student's dream: free money to pay for college. Scholarships and grants, particularly trade school grants, can be hard to find. Unlike loans, they don't need to be paid back, so naturally they are a more desirable form of financial aid than loans. Competition can be stiff for merit-based scholarships, and some people don't even try to find other kinds of grants--a huge mistake.
Instead, many students end up working full time while going to school, or thousands of dollars in debt, or both. Unfortunately, as a degree has become more of a starting point for a career, the cost of higher education has risen dramatically and wages have flattened. What's an ambitious person to do?
Where to Look for GrantsThere are a few key places to check for grants. The federal government is the first place to begin. Be sure to file a Free Application for Federal Student Aid (FAFSA). This can also be used to obtain aid from state governments or individual schools. Deadlines for state or school aid can be much earlier that the official federal deadline every year. These deadlines vary depending on the schools. Students who fill out applications earlier are more likely to receive aid. This is a crucial step to take to maximize financial aid options, and enables students to compare each school's aid package. There is no fee to file the FAFSA, as long as it's filed through the official government website to avoid third party charges.
Pell Grants, which are available to undergraduate students who do not already have a degree, provide up to $4731 per year depending on financial need and educational costs. Schools often award a mixture of loans and federal Pell grants as part of a financial aid package.
Another federal grant that is similar to the Pell Grant, the Federal Supplemental Educational Opportunity Grant (FSEOG), is a grant of up to $4000 made available to students with the highest levels of financial need.
For students in specific fields, a few other grants are available. The TEACH (Teacher Education Assistance for College and Higher Education) grant. This grant makes $4000 per year available to students who are interested in teaching as a career. This grant requires that students teach elementary or secondary school in a low-income area for four years following their program completion. The National SMART (Science and Mathematics Access to Retain Talent) grant provides funds to students in science, math, engineering, and certain foreign languages that are relevant to national security interests.
Colleges themselves are another good source of grant money. Some of them can be quite specific; for instance, a donor could designate a scholarship for a tuba player who plans to major in biology. Community institutions like the Rotary Club can be another good source of money for college, typically awarding funds for certain achievements. State departments of education frequently offer some form of grant money for college, as do some large corporations for children of their employees.
Knowing where to find grants is a powerful asset for any prospective college student. It may take some effort, but the money is out there, and well worth the time it takes to research. There are a few helpful links just below to help you get started.
Article ReferencesThe College Board
http://www.collegeboard.com/student/pay/scholarships-and-aid/8936.html
U.S. Department of Education
http://www.ed.gov/about/inits/ed/competitiveness/ac-smart.html
Student Aid
http://studentaid.ed.gov/PORTALSWebApp/students/english/PellGrants.jsp
http://studentaid.ed.gov/PORTALSWebApp/students/english/FSEOG.jsp?tab=funding
http://studentaid.ed.gov/PORTALSWebApp/students/english/TEACH.jsp
http://studentaid.ed.gov/PORTALSWebApp/students/english/SmartGrants.jsp
FAFSA
http://www.fafsa.ed.gov/
More articles on Financing Your Education | ||
