Find Funding for College 7: Find Federal & Private Grants

This continues our series on finding ways for other people to pay for your college

The government web site Studentaid.ed.gov states “Grants and scholarships are often called “gift aid” because they are free money—financial aid that doesn’t have to be repaid. Grants are often need-based, while scholarships are usually merit-based. In other words, you must typically show a financial need to receive a grant. They award scholarships, on the other hand, based on what you have done or personal qualities. Today we focus on grants, but we will not include research grants.

Sources of Educational Grants

Student Aid continues “Grants and scholarships can come from the federal government, your state government, your college or career school, or a private or nonprofit organization. Do your research, apply for any grants or scholarships you might be eligible for, and be sure to meet application deadlines!” 

Federal, state, and college grants require you to complete a Free Application for Federal Student Aid (FAFSA) to apply for the grant. Private or nonprofit grants may use the FAFSA or their own application. You must submit a FAFSA each year by June 1. (See tips for completing the FAFSA).

Federal /Grants

Pell Grant: typically for undergraduate students. Family income cannot exceed $23,000 (reduced from $33,000). Also, you may only receive the grant for a total of 12 semesters.

Federal Supplemental Educational Opportunity Grant (FSEOG): for undergraduate students with exceptional financial need. Awarded first come, first serve (submit FAFSA by March 1 instead of June 1).

TEACH Grant: for students who plan to become teachers in a high-need field in a low-income area. Warning if you do not fulfill the obligations related to this grant you will need to repay it with interest.

Iraq or Afghanistan Service Grant: for veterans and family of those who served in these two conflicts.

State Grants US Department of Education and College Scholarships list grants for each state

Private or Nonprofit Grants EduPlace and Southwest CC list of private foundation grants

Wednesday we will outline sources to find 100s of scholarships to help you pay for school