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