College Grants: Types and How to Apply for Them

College grants are funds provided for educational purposes. Unlike loans, grants do not have to be re-paid. There are thousands of grants and scholarships available to college students. The Federal Pell Grant is one of the most popular grants. However, there are also grants and scholarships available at the local and state levels. In order to obtain one of these grants, you must first know how to apply.

The FAFSA (Free Application for Federal Student Aid) is a form used to determine if students are eligible for various types of financial aid. To be considered for The Federal Pell Grant and other grants, you must first fill out the FAFSA form online.

The web address for the FAFSA form is http://www.fafsa.ed.gov/. Each school year, there is an application deadline for the FAFSA, so make sure to look up applicable deadlines even before you've been accepted to a college or university. The deadline is posted on the website.

The FAFSA form is self explanatory and easy to fill out. You'll need to fill in basic information, such as your name and address. If you are a student who depends on your parents for financial support, then you will need your parents' tax information from the previous year to complete the FAFSA. If you are an independent student who lives on your own or supports yourself financially, then use your own tax information in the income section. You must answer questions about household size, marital status, your total income from the previous tax year, and your student status. Student status affects the amount of aid that you can receive. If you are a part-time student, then you will most likely receive less funding than you would as a full-time student attending the same institution. If you are married, you must also include your spouse's income in the total household income.

You must enter your school code on the FAFSA. The school code is a number identifying your school as the one to which the aid should be paid. You may obtain the school code from your school's financial aid office. If you don't have the code, the FAFSA page will help you to find it on the FAFSA web page. To do this, you will simply need the name of the school and the state in which it is located. If you are considering more than one school, there is space to enter more than one school code.

After submitting the FAFSA, you will be notified of the results by e-mail. The notification will inform you of whether or not you qualify for Pell Grant as well as other types of student aid, such as student loans and the Federal Work-Study Program.

The Federal Pell Grant

The Federal Pell Grant is a need-based grant. There is an income limit for the grant. The income limit is based on the expected family contribution, as well as household size and other determining factors. The Pell Grant is one of the most well-known types of student aid. Pell Grant does not have to be re-paid.

The federal government uses a formula to determine financial need for Pell Grant. The formula includes factors such as the student's income and the availability of funds. The amount of the Pell Grant that is awarded to the student depends on several factors, including the cost of attendance, the student's expected family contribution, and the enrollment status of the student. These grants serve mostly low-income individuals, some of which could not afford to obtain a degree otherwise. Students may qualify for Pell Grant even if their grades are not excellent. The grant does have an income ceiling and other federally mandated stipulations. To apply for the Pell Grant, a student must submit the aforementioned Free Application for Federal Student Aid (FAFSA).

Federal Supplemental Educational Opportunity Grant

Another popular federal grant is the Federal Supplemental Educational Opportunity Grant. Like the Pell Grant, it is a need based grant. Eligibility is determined by the college or university based on info from the Student Aid Report. The Student Aid Report is similar to the FAFSA. To find out if you qualify, contact the school’s financial aid department for more information.

Merit Based College Grants

Merit Based Grants are awarded based on academic excellence. Criteria for receiving these grants include test scores and grade point average (GPA).

The Academic Competitiveness Grant is awarded to undergrad freshmen and sophomores based on the student's academic record and leadership ability. Candidates for this award must also be eligible for the Pell Grant.

The National Science and Math Access to Retain Talent Grant (SMART Grant) is given to undergrad juniors and senior who major in science, computer science, engineering or math. Candidates for this grant must also be qualified for and receiving the Pell Grant. Many students continue their education with this grant after they become an upper classmen and they are phased out of the Academic Competitiveness Grant program.

The WIA College Grant

The Workforce Investment Act (WIA) of 1998 is a federal act that provides job training and educational assistance. WIA also has a grant program that assists with the cost of education and training. For example, in Georgia, the WIA program assists people throughout the state who have proven that they would benefit from additional job training. Since its inception, the grant has provided the funding for many students to receive an associate's degree. The funding is available to those who are unemployed or underemployed. There is limited funding for this grant, so applicants are often placed on a waiting list. Apply early. Contact your state's Department of Labor for more information.

There are many other grants and scholarships available besides the above mentioned ones. Fast Web is a website that lists student grants and scholarships. They have available scholarships for first year students as well as students who are seeking advanced degrees. To view the available scholarships that you may qualify for, you must first complete a simple application. They require only your name, address, phone number, GPA, and the name of the school(s) you are considering or attending. Once you've created a screen name and password, you can view scholarships that match your education and field of study. The site also lists available jobs and internships.