Types Of Federal Grants For College Students

Federal grants are aids offering financial assistance to people who are in need of them. These grants are available to college students too, who wish to further their education. If you are seeking federal grants for college students, then you will have to apply for it by filling up the FAFSA form. Completing the Free Application for Federal Student Aid or FAFSA as it is commonly known as on time will increase your chances of getting the financial aid. Federal grants for college students are categorized on the basis of need and merit.

Need Based Federal grants for college students.

Pell grants are need-based grants and the calculations are based on your family’s financial contribution towards your education. It is meant for students who are not in a good financial position. To avail this grant, you have to complete the FAFSA application and submit it on time.

The grant is calculated on “The Expected Family Contribution”, the cost of attendance, whether you will be attending college throughout the year or if your responsibilities and obligations will not let you to complete the academic year and whether you are studying full time or part time. As this grant is only for the most needy students, you can avail only one grant per year.

Another type of educational federal grant for college students is the supplemental grant. It is for exceptionally needy students and the program is known as FSEOG or The Federal Supplemental Educational Opportunity Grant Program. This is different from the Pell grant as it also takes into account the funds provided to you by your college and your need.

Grants based on Merit.

When your academic performance is excellent, you can avail this grant. It is provided to those students who in addition to having financial needs have a good academic record. These grants for college students on merit basis are most State grants. To be eligible for the grant, the student’s GPA and income level is fixed.

To apply for all Federal grants for college, you have to complete FAFSA. This complete application has to be submitted on time and only then, it is considered. There are a number of documents to be provided and attached along with FAFSA. You will also have to provide your parents’ income so that your eligibility can be judged. You can also contact your college administration and find out if any form of financial assistance is provided by it apart from Federal grants for college.