College Grants

What are College Grants?

Like scholarships, college grants are a form of free money for college. Most college grants are based on financial need and come from the federal or state government. You must fill out the FAFSA to become eligible for federal and state aid, like college grants. There are also some private college grants, generally given for specific areas of study to graduate students.

Apply for College Grants

The application process for college grants is different from the application process for college scholarships. Since most college grants are based on financial need, you don’t have to apply for each college grant. To apply for college grants, you must complete the FAFSA every year. Once you fill out the FAFSA, you are automatically in the running for federal and state grants based on the financial information that you entered. The financial aid award letter that you get from your school will tell you if you were awarded any college grants.

Graduate Students and College Grants

If you are a graduate student, ask your financial aid office if there are non-need based grants available for your field of study (sometimes called fellowships). You must apply for a college grant of this nature; the application process is usually difficult and competitive, so be prepared.

Pell Grant

The Federal Pell Grant is one of the most common grants for undergraduate students with demonstrated financial need. Legislation has recently increased the maximum Pell Grant award to $5,350 for the 2009-2010 school year. For more information on the Federal Pell Grant Program, visit the government’s website.