Grants for College
One of the best ways to finance your college education is through grants. Unlike loans, grants won’t need to be repaid. Essentially, grants are free money for college, and are available through the federal government, state governments, colleges, and other institutions.
Federal Grants
To determine your eligibility for federal grants, you must fill out the Free Application for Federal Student Aid (FAFSA). Federal Pell Grants are usually the starting point for students in attaining grants. The maximum Pell Grant in 2008/09 was $4,731. Those with considerable financial need can qualify for the Federal Supplemental Educational Opportunity Grant (FSEOG), which awards between $100 and $4000 a year. Other federal grants include the Teacher Education Assistance for College and Higher Education Grant (TEACH Grant), the Academic Competitiveness Grant (ACG), and the National Science & Mathematics Access to Retain Talent Grant (National SMART Grant). Information about federal grants can be found on the Federal Student Aid website.
State Grants
Another way to finance your college education is through state-based grants. State grants include those for low-income families, minorities, and for students pursuing high-need fields, such as nursing and teaching. To learn what grants your state offers, see College Scholarships.org.
Individual College and Other Grants
Free money for college can also be found through individual colleges and other institutions. Colleges base grant eligibility on financial need and academic achievement. Some colleges offer grants to minority students and those with special needs. Other grants can be found through professional and local business organizations, such as the Chamber of Commerce and civil groups and clubs.
Sources:
College Scholarships.org: State-Based College Grants: An Essential Resource List
Federal Student Aid: Campus-Based Aid
Federal Student Aid: Funding Your Education
Federal Student Aid: Grants