Grants are one of the favorites when it comes to financial aid. Most of the time they do not have to be repaid. They should be your first method of financing your education. Grants are awarded
based on financial need. They come from different source: federal government, states, colleges, institutions, private, and others.
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Grants are awarded based on eligibility and fund availability. They do not need to be repaid as long as the student remains eligible.
FAFSA Application is your start towards grants.
TEACH Grant - Max: $4,000
Federal Pell Grant - Max: $5,350
Federal Supplemental Edu. Opportunity Grant (FSEOG) - Max: $4,000
Academic Competitiveness Grant (ACG) - Max: $3,291
National SMART Grant - Max: $4,000
Institutional Grants
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Federal Grants Data
2009-2010 Total Amount For Federal Grants: $26,265,147,289 2009-2010 Average Award Across Grants: $2,278 2009-2010 Max Award: $5,350 - Highest Paying Grant is Federal Pell Grant 2009-2010 Min Award: $25 - Smallest Award Grant is Federal TEACH Grant 2009-2010 Highest Average Award: $3,611 - Federal Pell Grant |
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Grants are mostly for undergraduate students, but graduate students may receive grants Federal Pell Grant in some cases.
You must be enrolled or accepted for enrollment before you Apply.
Weather you receive grants or not will depends on your
FAFSA Application result. In most cases your school will make the decision if you qualify for certain state or school based
grants. If the school is not able to decide automatically you may be required to apply to grant administrators in order to be considered.
Since most common grants are federal you apply by submitting your FAFSA Application.
For other grants you have to find the administrative contact for the grant, contact him directly and see what the enrollment process is.
The greatest challenge for you is to get ahead of everyone when applying for grants. Most schools and grant administrators have an assigned amount of money they can grant to students per year.
This means grants work on first come first serve basis.
Who gets awarded and how much will be determined by federal rules. For better understanding of federal grants we suggest students visit the
Student Aid On The Web site.
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Important Questions |
Q: Can I apply for student grants if I have a student loan?
Yes you can. You can always apply for grants even if you have a student loan as long as you did not default on your loan. I would apply for grands even if I was in default on my student loan.
Chances are you'll find a program that will give you grants for your education. It does not hurt to try as long as you are legitimate.
Q: What is the most important requirement in order to receive grants?
Education grants are awarded based on your financial situation. If you are in a financial need a grant may be awarded to you. If you are a wealthy student the grant may not be awarded. The most
important tip in receiving grants is speed. There will be more than one student in financial need and grant money is limited.
Q: How much money can I get from a grant?
Maximum you can receive is $4,050. Grants range from $100 - $4,050 roughly. If you're beginning school grant limits are lower and they tend to increase with your years of education.
Q: Can I receive a grant if I'm enrolled less than half-time?
Yes, but only for the Federal Pell Grant and the FSEOG. However, you will not receive as much as if you were enrolled full-time. You must be enrolled full-time for the ACG and the National SMART
Grant.
Q: How much is the average Pell grant?
The average Pell grant was $2,600 in 2007-08.
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Given that this form of financial aid is free it makes sense to go the extra mile in order to get it. The plan is to submit your
FAFSA Application as soon as possible. Search online for available grants and apply to all of them sooner then everybody else.
Have your application ready before the start date.
We advise our financial aid candidates to use our tools below and see how much college is going to cost, how to plan or save for college, how to find financial aid, and calculate
loan amounts.
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Related Resources
Grants FAQ
Grants Glossary
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