Seek federal grants for college students in order to avoid falling into student loan debt
In recent times, the cost of education has become so high that it is almost impossible for college students to bear the fees for tuition. Thus, they are incessantly tuning to student loans to pay for tuition fees, and eventually falling into keep-deep student loan debt that compels them to look for debt help. However, to avoid such traumatic situation, it is best to seek government grants that typically do not have to be repaid. There are some federal programs that give money to students to attend college. So let us have a look at the types of federal grants available, how to get them and what are the eligibility criteria.
1. Pell Grants and FSEOG for Needs-Based Grants:
These two programs are the most famous ‘needs-based’ grants. As the term ‘needs-based’ suggest, these grants are geared towards low-income households and are based on financial need. If you are a college student pursuing bachelor’s degree with exceptional financial need, you can apply for these grants. However, it is difficult to assess individual’s need, but these grants can provide upto $4,000 to $5,000 per student for the school year.
2. ACG and SMART for Academic Achievement Grants:
The Academic Competitiveness Grants and National Smart Grants are available in amounts ranging from hundreds to thousands of dollars. To qualify for these grants one need to have both need as well as merit. Students have to qualify for Pell Grants and have to complete a secondary school program of study – honors, IB or AP courses in order to qualify for these grants.
3. TEACH Grants for Fortune Teachers:
The Teacher Education Assistance for College and Higher Education (TEACH) Grants Program aids students with the amount of $4,000 per year. Students preparing to become a teacher and willing to commit to teach in low-income public schools can qualify for this grant. This grant is relatively a new grant program and is not yet so well-known.
Now let us see how to get federal grant programs.
- Filling out the free application for Federal Student Aid (FAFSA) is the first step to apply for this grant. You may either filling out this form online at fafsa.gov, or may use paper FAFSA. Alternatively, you may also contact the Federal Aid Information Center who can help you get started.
- After you finish filling out the form, expect to receive a Student Aid Report (SAR), which will contain the details reported on your FAFSA and at the same time reveal your Expected Family Contribution (EFC). Take a close view at your SAR details and make the necessary changes if any inaccurate information is found. Then the school of your choice will receive the SAR data automatically online.
- Make sure, the school you choose has the financial aid office with all the necessary details required to determine your eligibility. If you meet all the requirements, you will receive an award letter stating the amount and type of federal grant you receive from your chosen school. You can then compare the award letters received from each school and determine which college grant would be suitable for you.
To get these federal grants you need to meet certain eligibility criteria which are as follows.
To get federal student aid, you either have to be a U.S. citizen or an eligible non-citizen with a valid Social Security number. You also have to be registered with the selective service if you are a male and between the ages of 18 and 25. You also have to have above average academic progress in post secondary school in order to qualify for the grant. To get the grant, you will also need to establish your financial hardship and provide evidence that you require financial assistance.
In conclusion, seek federal grants for college students to bear the expense of education and avoid falling into debt.
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