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Federal and state government funded student grants are typically
based on the students financial need in addition to academic
prerequisites or requirements.
Grants can be awarded according to the following categories:
-
Student-specific
- Academic Competitiveness (AC) Grant
-
Subject-specific
- Grants designed specifically
for students pursuing particular fields of study
-
Degree Level -
Graduate and Doctoral degrees
-
Minority -
Low-income and disadvantaged
Because the majority
grant recipients are financially impaired or otherwise
disadvantaged, the Federal government has specifically designed
many grants for minorities and low-income students.
Common
Sources for Grant Funding:
-
Federal and
State governments
-
Colleges and
universities
-
Public and
private organizations
For College Students
there are two "General" Grant Programs:
-
Need-based
grants
-
Merit-based
grants
Federal Grants
The federal
government is perhaps the largest provider of student grants.
Most federally funded student grants are contingent on financial
need. General grant requirements will often include your family
meeting specific income criterion in conjunction with the
student filing a mandatory Free Application for Federal Student
Aid (FAFSA) annually.
-
The most common
federally funded grant for the financially challenged
undergraduate students is the Federal Pell Grant. The Pell
Grant is designed to provide for impoverished undergraduate
students with financial assistance. The amount of grant
money available may change each year depending on federal
budget restrictions and any notable change in your family’s
income.
-
Students who are
in the most need can apply for The Federal Supplemental
Education Opportunity Grant program or (FSEOG). The
Supplemental Education Opportunity Grant program or (FSEOG)
is typically awarded to students that have an Expected
Family Contribution (EFC) or 0 on their financial aid
Student Aid Report (SAR).
-
The Academic
Competitiveness (AC) Grant is available to undergraduate
freshman and sophomores with outstanding academic
achievements and demonstrated aptitudes for leadership and
service. Qualifying candidates must also be Pell Grant
eligible.
-
An excellent
alternative for students is the Federally-funded work-study
program, which provides financially needy students with
on-campus job opportunities, which let students earn money
toward their college expenses.
-
The National
Science and Mathematics Access to Retain Talent Grant (SMART
Grant) picks up where the Academic Competitiveness Grant
leaves off - with a $4,000 award to undergraduate juniors or
seniors studying computer science, engineering, mathematics,
or sciences. As with the Academic Competitiveness (AC) Grant
applicants must be eligible for and receiving the Pell
Grant.
-
Students that
have served in the military may qualify for a federal
funding of their college education or vocational and
technical training with the aid of the military Montgomery
G.I. Bill.
Grants-for-Service
programs
Grants will be
commonly awarded to graduate students in exchange for research
work.
Grant monies administered by many government and university
sources may be designed as grant for service programs. These
programs that provide two-fold solutions for successful
applicants:
Merit-Based Grants
Students with exceptional academic performance make good
candidates for Merit-based grants which provide free college
funds and typically take into consideration a combination of
factors including the income and academic achievement. Students
can determine their eligibility by talking to their high school
counselor or college financial aid office.
The most common type of merit-based grants are the individual
state-based grants, which award students financial aid based on
their GPAs and income levels for their college education. In
addition to your filed Free Application for Federal Student Aid
(FAFSA) you will likely be required to complete a separate state
grant application form.
Applying
for College Grants
Most types of grant programs will require you to file a Free
Application for Federal Student Aid (FAFSA). Filing the FAFSA
should always be your first step. By completing and filing the
FAFSA you'll automatically be considered for any federal grants.
Remember to submit your application by federal and state FAFSA
deadlines or you risk disqualification.
Also be aware that some programs will also require extra
documentation, such as academic transcripts, financial statements
etc. in order to qualify.
Check with your college or university for any grant programs
they may offer.
State
Grants
Many states administer several diverse grant programs to
resident students based on merit. Check your state higher
education website for specific grants offered.
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