Financial Aid Grant

You may get a financial grant in order to fund your college education. These grants are available at the federal, grant and college levels.

The financial aid for college is a form of assistance received for educational purposes which will often cover college tuition and other costs related to education. There are three major types of college financial aid which students and parents alike can look into if they are searching for the most ideal help they can get to pay for college education, but one of the best options is to apply for a government college grant. This way you would not have to repay the financial help that you receive. There are also several types of grants and they are at the federal, state and college levels. These three are most likely the most generous, but know that there are many other sources available out there.

Federal Grant

The federal grant is funded by the government and given this, the disbursement amounts are fairly stable. Your eligibility to them will depend on the results of your Free Application for Student Aid, or FAFSA. Federal grants normally go to undergraduates, however there are some students who are pursuing advanced degrees that can be considered for certain programs. Often the federal grant goes to students with high need for financial assistance. The federal grant will typically require that you meet the minimum GPA or other academic merits.

State Grant

The state grant will either be awarded directly by college or state-based programs to help fund for your college education. State-sponsored grants often look at several criterion before they award a specific student such as their student’s academic achievements in high school, a high GPA and impressive standard test scores. On the other hand the state-based organizations may award their grants based on the student’s association with a particular group. The state-sponsored grants normally recognize the need as part of their qualifications but there are some who look into specific student characteristics, such as whether the student is a minority, or considers the student’s intended field of study.

College Grant

College-based grants are usually awarded in addition to federal grants and state grants and is often a means to make college education more affordable for students, an example of which are athletes who already received athletic scholarships but will also be awarded the college-based grants on top of the scholarship. In some cases, public and private colleges offer campus-based grants for minorities, women, or out-of-state students. Students with a sibling studying at the college they plan to attend may also take advantage of the college-based grant offered by the college. There are several private colleges who use the grants to offer discounted tuition to students they want to recruit. They also use such to cover for the difference in tuition for students who are financially needy who have federal financial aid that does not pay for the full tuition cost.

When applying for federal state grants, you must fill out a FAFSA form which comes with the student’s Expected Family Contribution which will determine what the government will expect you to come up with to finance for your college education.