Whether you’re looking to go back to school or just trying to ease your financial burden, there are grant opportunities you should know about. The best thing about a grant is that, unlike a loan, you don’t have to pay anything back.
There are a few different grant programs designed to help people with different backgrounds, so let’s take a look at some of the most popular ones below.
Federal Supplemental Educational Opportunity Grant (FSEOG)
The FSEOG program is for undergraduate students in financial need, and the awards vary between $100 to $4,000 per year. To apply, start by filling out the FAFSA form to see how much financial aid you qualify for. It’s important to apply for this grant as soon as it becomes available (October 1st) as the awards are granted on a first-come-first-served basis.
Once the schools exhaust their funds for this grant, it is no longer offered. If you do receive this grant you will have the option to have the funds deposited into your student account, get paid directly, or a combination of both.
Federal Pell Grant
The Federal Pell Grant helps low-income students with financial assistance for college. The grant can be used for living expenses, supplies, tuition, and transportation. Each individual is awarded an amount based on their financial need, the school’s tuition fees, whether you’re full or part-time, and any contributions your family can make. These are the factors that will determine the amount given. However, the maximum amount granted is $6,495.
As with the FSEOG, the first step you should take in applying is to complete the Free Application for Federal Student Aid (FAFSA) form. Funding is also done on a first-come-first-served basis, so you’ll want to have you application done by October 1st, when awarding begins.
Once you have completed the FAFSA and other documents needed for the Federal Pell Grant, you should receive a response within three weeks. The email will include a full report on your financial aid, including how much you have been awarded. Grant funds are normally paid directly to your college two to four weeks before the start of the school period.
Which grant is best for you?
Whatever your goals are, make sure that you only apply to grant programs that are fully trusted and verified. There are many scam sites out there promising free college, so that’s why we’ve included only the most trusted and official programs. Education is one of the best ways to achieve your goals in life, but it can also be very expensive if you have to pay for everything out of pocket. Make sure you’re taking every step to make it as affordable as possible. You’ll be glad that you did!
