| It costs a lot to receive a proper education. | | | | awarded. A student with a grant may either |
| That's why the government is doing everything | | | | receive the money in checks via the postal |
| it can to assist those students in need. By | | | | service or the college would automatically |
| providing them with various student aids from | | | | credit the amount to the student's account. |
| employment to scholarships and college grant | | | | |
| money, the government is in effect giving | | | | If you want to be considered for federal |
| these students a chance to get the education | | | | financial assistance and receive college |
| they need. But what are college grants? And | | | | grant money, you must fill out the Free |
| how do they differ from student loans and | | | | Application for Federal Student Aid or the |
| scholarships? | | | | FAFSA. The easiest way to do this is online |
| | | | at the FAFSA.ed.gov website. The FAFSA can |
| College grant money is in fact a type of | | | | only be filed no sooner than January 1st of |
| student financial aid that is awarded to | | | | the year you will be attending. |
| deserving individuals. The federal | | | | |
| government, non-profit civic groups, and | | | | However, be cautious of the dates on which |
| private institutions may offer these grants | | | | you will be filing for college grant money. |
| to students generally based on economic need. | | | | Sometimes, the deadlines announced by the |
| | | | federal student aid programs and your college |
| You may be surprised to learn that a college | | | | of choice may vary. Just to be safe, file |
| grant is not the same as a student loan. The | | | | your application long before any of the |
| main difference between the two is that a | | | | dates. |
| college grant, unlike a student loan, does | | | | |
| not need to be repaid. In contrast, students | | | | As well as the FAFSA, there may still be |
| who receive loans are obligated to repay the | | | | other forms you will need to submit. If you |
| money within a certain specified period, as | | | | are an incoming freshman, you may also need |
| determined by the agreement between student | | | | to complete the CSS Profile Application which |
| and lender. This is why students and parents | | | | is required by numerous private colleges. |
| alike favor college grant money over regular | | | | Your CSS profile would give administrators a |
| student loans. | | | | broader set of data from which to derive your |
| | | | eligibility for institutional need-based |
| In an effort to determine the amount of | | | | assistance. Usually, the profile application |
| college grant money you may receive, most | | | | becomes available in the middle of October. |
| colleges and grant programs will factor in | | | | You may register and apply online at |
| your parents' income as well as the average | | | | CollegeBoard.org. |
| cost of college. The result is a basic | | | | |
| estimate of how much money you may be | | | | Using the processed information from your |
| eligible to receive from your grant. | | | | FAFSA or CSS Profile, the school |
| | | | administrators will determine your |
| Most college grant money programs fix a | | | | eligibility for college grant money. This |
| certain amount which they then send to the | | | | decision will be based on your demographic, |
| colleges and universities where the grant is | | | | household and financial data. |