Think You Can’t Afford College?
Don’t let go of your dreams of going to the best college just because you cannot afford it. Why let your ambitions die when the government has enough funds to sponsor education of those who really need it? Even in the times of recession, there are many funding organizations that are willing to pay for your education if your family cannot. Now everyone can afford an education thanks to free grants for college!
Unlike in a student loan where you need to pay for years from your income with interest, grants don’t have any interest or deferred payments either. Grants for college never have to be paid back, and that in itself is a huge relief. Students can finish their studies and come out of school with significantly less debt, or in some cases they may even be debt free.
How To Get Your College Grant
A student needs to fill out an application for the Free Application for Federal Student Aid also known as FAFSA to be apply for free grants for college. This application can be obtained from the administration office in schools or online. FAFSA applications helps students find grants appropriate for them and the application also determines whether or not they are eligible for the funds. The student’s family income plays an important role in deciding this.
Needs-Based Grants Versus Merit-Based
Free grants for college are given based on merit or need. As the name suggests, merit-based grant is awarded to students who have a good track record in extra-circular activities as well as academics but cannot afford to study further. The funds are granted to these students depending on their grade point average (GPA). Those with better GPAs get more money! Need-based free grants for college are given to students who simply cannot afford to fund their education on their own and have family constraints on them. Family constraints include high number of dependents, low family income, student status etc.
Who Else Qualifies?
There are many types of free grants for college. These differ from each other in terms of the requirements each has under it. For instance, the Federal Supplement Education Opportunity Grant (FSEOG) is given to students who are most in need having no financial stability. Thus, depending on the financial status of the students as well as the criteria of education they are given funds under various grants. Such grants are given to students who qualify for need-based grants.
State governments also offer grants in addition to those offered by federal government. These are categorized as minority funds meant for minority ethnic communities as well as women; low-income and disadvantage student funds and students pursuing higher studies. It is said that the State collects these funds from the lottery money that gets accumulated with frequent games conducted in each state.
These grants are increasingly helping students study further and help their families benefit from their education. Before you venture out to look for free grants for college, ask around in your school or college if they have any such funds for students.