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What Are the 3 Major Types of Grants for College Students?

When you want to go to college and don’t have the funds to finance your education, you can take advantage of the different Grants for college students. Contrary to loans, you don’t have to return the grants. And, unlike scholarships grants are not offered on the basis of your academic merits. As a matter of fact, your eligibility is considered on the basis of your income level.

Types of College Grants

Federal

Federal government funds several grants for college going students.

  • The Pell Grant is the most popular one that is usually allocated from the financial aid office of your school. You can expect to receive as high as $5,000 under this grant.
  • The Federal Supplemental Educational Opportunity Grant is another grant offered by the federal government. You can expect to receive as high as $4,000 from this. In order to get these Grants for college students you should qualify for the Pell Grants and demonstrate financial need.

2. Institutional

When you want to pursue education in private colleges, you can look forward to institutional College grants. Furthermore, these type of grants are offered to support the cost of your tuition fee and you don’t have to pay it back. And, the amount of money that you would get depends mostly upon your financial need.

Institutional Grants for college students are given to you after considering all the savings, scholarships, federal grants and loans that you have applied for and when a balance comes on your tuition fees. If your family is unable to support your college education at a private school, you can get as high as $20,000 annually for this.

3. Other

There are several other grants for college education offered to you on different basis which includes:

  • Your ethnicity
  • Your race
  • Your location
  • Your field of study

Unlike the federal and institutional, these College grants are not offered under the financial aid application. Moreover, you would have to find these offers yourself.

Learn How to Get College Grants

You may be applying for any type of grants, but you have to fill the form called Free Application for Federal Student Aid. Never the less, your eligibility for the federal grants will be considered on the basis of the information provided on this form. On the other hand, universities consider this form to determine the institutional Grants for college students that you can be eligible for.



Source by Tarannum Ali Mohmmed

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