Getting Grants For College Students

Grants are what every college student wants as they are just like colllege scholarships meaning you don't have to pay them back. This financial aid are usually awarded on the basis of financial need, unlike most scholarships, and come from the usual aid providers: the federal government, the states, the schools, private organizations and individuals.

In most cases, there are no separate applications for grants. When you submit the FAFSA (Free Application for Federal Studetn Aid) you automatically apply for almost all forms of aid.

Federal Grants

The main players in the federal grant scene are the Pell Grant and the Federal Supplemental Educational Opportunity Grant (FSEOG). These grants go to families with exceptional financial need, and you apply for both by submitting a FAFSA. The only academic requirement for freshman applicants is that you graduate from high school or can document a comparable secondary education, such as a GED.

To keep the grant, you must maintain "satisfactory academic progress," which the government defines as C average. I wish it could be a little higher though.

Pell Grants.

The maximum award for the Pell Grant for 2006-2007 is $4,050, but this amount can change from year to year, depending on funding. How much you can get depends on your EFC (Expected Family Contribution) and the cost of attending the college at which you enroll. For example, a student would receive a Pell Grant of $400 if the EFC is $3,850, the maximum EFC for 2005-2006. Each school participating in the Pell Program receives enough money to pay the grant amounts its eligible students qualify for. Students who attend college less than fulltime can get partial Pell Grants.

Academic Competitiveness Grants and SMART Grants.

New for 2006-2007, these grants are open to qualified Pell Grant recipients. Academic Competitiveness Grants could give an extra $750 in the first year and $1,300 in the second year to Pell students who carry a B average and graduate from an academically challenging high school program. The SMART grant can give an additional $4,000 per year for Pell juniors and seniors who maintain a B average and major in science math, or a language of particular national interest.

FSEOGs.

FSEOGs are awarded to the students with the lowest EFC. Priority is given to those students who are also eligible for Pell Grants. FSEOGs are awarded based on the availability of FSEOG funds at the college. Not all colleges participate in the program. FSEOGs can range from $100 to $4,000, at the discretion of the college's financial aid office.

State Grants

Many states offer their own grant program. You must be a state resident and, in most cases, go to a state-supported public college (not required in California), be enrolled at least half time and, in some cases, maintain satisfactory academic progress. Such grants may be guaranteed to students with a specified grade point average or class ranking in high school.

They may also be earmarked for certain expenses, such as fees, books and supplies. In some states you apply by simply filling out the FAFSA. Other states have separate applications, usually available through the financial aid office.

School-Based and Private Grants

Most colleges, especially private colleges, award grants out of their own funds. They may appear quite similar to scholarships. The criteria are not always published, but colleges generally have the discretion to adjust the size of grants to financially needy students based on academic qualifications.

Many colleges also award grants to students regardless of financial need. Check with your college to find out the application process, if any.

Finally, private organizations, companies, associations, foundations and individuals award grants, whose criteria typically mirror those of the colleges that administer them.

If your family has a greater-than-average financial need and you are admitted to a college, you will probably be eligible for grants. Grants are easier to qualify for than scholarships, since financial need is usually considered before academic achievement. Since they don't have to be repaid, they are just about the most desirable form of aid. Nothing beats free money for college.

Have a great day and God bless!