Create your very own Auto Publish News/Blog Site and Earn Passive Income in Just 4 Easy Steps
College grants are a source of financial aid that is essentially free money.
If you're applying to college, you've probably heard students complain about grants and scholarships—from the application process to the rigorous requirements. But it's entirely possible to find grants to help pay for college.
If you review all of your options and keep track of your results, the process doesn't have to be tedious. We've simplified your research by providing you with resources to help you find the grants that are right for you.
While scholarships are awarded based on merit and need, grants are awarded primarily based on need. For most grants, grades are not a determining factor. It's no wonder that grants are the most sought-after form of financial aid – grants are like “free money” that can be used for tuition and other college expenses.
Below we'll show you where to look for grants and how to apply. Read on!
The difference between scholarships and grants
Unlike student loans, you don't have to pay back grants or scholarships. Both scholarships and college grants are free money options to help you finance your college education. Grants are typically awarded by the federal and state governments, while scholarships are awarded by the college or private organizations.
People often confuse grants and scholarships or use the terms interchangeably because grants and scholarships have many similarities.
The biggest difference between college grants and scholarships is that college grants are usually need-based, while scholarships can be need-based or merit-based. What does merit-based mean? It means the scholarship is awarded based on something you do, such as a skill, hobby, or achievement.
Like grants, scholarships can be awarded based on ethnicity, religion, or other background-related criteria. Grants are considered free money for college that only needs to be paid back under these rare circumstances.
Find Free Money for College with Federal Grants
What is a grant? A federal grant is a form of federal financial assistance in which the U.S. government redistributes its funds to eligible recipients who demonstrate financial need.
Below you will find information about federal grants, state grants, college grants, and other special situation grants. Just follow these steps and you will have a higher chance of finding grants that are a perfect fit for you.
Did you find this infographic helpful? You can download the full version here.
Step 1: Fill out the FAFSA form
Both the federal and state governments offer student grants. To be eligible, you must complete the Free Application for Federal Student Aid (FAFSA).
There are many reasons to fill out a FAFSA form, but grants require you to fill out a FAFSA form so colleges can determine your eligibility for financial aid.
You don't have to stop at grants—family contributions, work-study programs, and scholarships can significantly reduce tuition costs. We recommend that you don't consider student loans until you've explored all of these options, and even then, start conservatively by taking out only federal student loans.
Find out why federal student loans are the best type of student loan you can take out (if you need to take out a loan at all).
Step 2: Discover your Student Aid Index
Once you complete your FAFSA form, the colleges that accept you will send you financial aid award letters informing you whether you are eligible for a college scholarship.
Hurry up and submit your college applications because grants are awarded on a first-come, first-served basis. Fill out the FAFSA form as soon as possible!
One of the main factors that determine your eligibility for grants is your Student Aid Index, a new metric that replaces the Expected Family Contribution.
Your SAI is the amount your family will pay for college based on financial information, whether or not they actually want to pay that amount. Students with higher SAIs are more likely to receive loans than grants, but don't be discouraged.
With so many grants available for all backgrounds, financial needs and abilities, there are many different types of grants available and with a little research, you may be able to find just the financial help you need for college.
Step 3: Find out about your options for federal grants
Colleges may choose to disburse grant funds in the form of a one-time lump sum payment or disbursement (equal installments) by transferring federal funds to your school and crediting them to your account.
Step 4: Consider grants from your school
Although the FAFSA form is the most common way to apply for financial aid, it is not your only option. You can also complete a CSS Profile to gain access to grants and scholarships for your college education.
Unlike FAFSA, the CSS Profile is a slightly more in-depth option that costs $25 for your application and $16 for each school. If there is a school you feel is well above your level, it may be worth it.
Step 5: Consider government grants to finance your studies
After you've reviewed all of your federal grant options, consider state grants by contacting one of the Department of Education's state grant agencies.
We have also compiled this ultimate guide to financial aid and student loans by statewhich includes all the grants offered by your state. Just click on your state and see what's available.
In states like California, there is the Cal Grant program, which you may need to apply for or create another portal application in addition.
Step 6: Explore your options for other special grants
There are many scholarships available for women, minorities, international students, and scholarships for students with disabilities. These are some of the most overlooked scholarships, so take the time to see if any of these scholarships are right for you and fill out an application.
Scholarships for international students
There are scholarships available for international students, but they are usually lower than those available for domestic students. You can check out your options here to get started.
Scholarships for women
Women's scholarships enable female students of all backgrounds to pursue educational programs and careers that were previously unavailable to women. Many organizations have taken steps to help women gain equal opportunities in education, opportunity, and career development.
Grants for minorities
While government support is open to all ethnic groups, there is some financial support specifically for minorities. If you are considered a member of a minority, make sure you apply for grants that take your background into account.
Regardless of your ethnic background, you should fill out a FAFSA form and explore all of your options. Ethnic foundations, private companies, and government agencies all offer scholarships that minority students should consider.
Ethnic Minority Scholarships support the educational advancement of minorities. There are different scholarships based on ethnic background, such as for Asian Americans, Native Americans, and Hispanics. High school students should contact their school counselor and the financial aid office of their desired university for more information.
Grants for national organisations
There are public and private educational grants available for disabled students who wish to pursue their higher education. Many public and private organizations provide grants and scholarships for specific mental or physical disabilities, such as cystic fibrosis and blindness.
Final thoughts
While the U.S. Department of Education remains the first place you should look to apply for financial aid, you should also consider federal, state, and private grants when reviewing all of your financial aid options.
Take advantage of all grants and scholarships before resorting to loans. Otherwise, you could be making these student loan mistakes. If possible, use student loans as a bridge to bridge the gap between grants, scholarships, and tuition.
What have your experiences been with scholarships? If you received a scholarship, was it from one of the sources listed above or from somewhere else? Share your experiences with college scholarships in the comments below.
Create your very own Auto Publish News/Blog Site and Earn Passive Income in Just 4 Easy Steps
