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