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Written by Gaurav Bhola, MSM on December 30, 2008
Welcome to Garv Financial.
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This is Gaurav Bhola and the tutorial is about “How to Get College Grants.”
This tutorial covers the description of college grants and various avenues of accessing grants.
As college and university education costs have risen over the time, many college students are in a bind over funding their college education. Only an elite few can muster up the tuition without any form of financial aid.
In addition to school loans, college loans, and scholarships; college grants are available to some college students. Grants are markedly different from both student loans and scholarships in that they are free gift money, unlike college student loans that must be repaid and mainly need-based and compared to the usual merit-based scholarships.
Different Categories of College Grants
University grants are primarily divided into separate categories:
- Specific to the student
- Specific to the subject the student will study
- The degree level the student is seeking
- Minority status
- Economic need, income level
Sources of College Grant Funding
- Colleges and universities
- Federal and state governments
- Private, public, non-profit organizations
The government offers grants to students in need. The following federal grants make college education a reality for many students:
- Since 1973, Pell Grants have helped millions of low-income students attend college.
- The Academic Competitiveness (AC) Grant is for college freshmen and sophomores with excellent academic records with demonstrated aptitudes for leadership and service. However, the applicants have to meet Pell Grant eligibility requirements.
- The National Science and Mathematics Access to Retain Talent Grant (SMART Grants) give $4,000 awards to juniors or seniors studying mathematics, computer science, engineering, or sciences. Also, grant applicants must meet eligibility requirements of the Pell Grant.
Accessing College Grants
Due to competition for grants being extremely high, begin your search early, during high school.
You can visit the college or university financial aid office to inquire about grants applicable to your situation.
Submit a federal application for student aid or FAFSA by June 30; this is the deadline to be considered for financial aid. Be prepared by having your tax documents ready to complete the forms for financial aid. Your assessed financial need will be reported to the financial aid office.
Explore and research various federal, state, private, public, and nonprofit college grants. Read their requirements and ascertain your eligibility to receive each award. As mentioned previously, there are several grant criteria that you may be able to meet, apply for and receive award for.
Be diligent in your grant search. Never quit.
My name is Gaurav Bhola.
Thank you, very much for watching the tutorial on “How to Get College Grants.”
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