Get Education Grants To Pay For College

If you are preparing to start college, the cost may weigh heavily on your mind. Several colleges have offered tuition discounts during the COVID-19 pandemic. However, the numbers indicate most colleges in the U.S. are raising their tuition costs. According to U.S. News and World Report, the average full rate for one year of college during the 2021-2022 school year is $10,388 to attend a public college in your state. That cost is more than doubled for the average out-of-state public college. It is more than tripled for attending a private college.

There are several ways to offset or reduce the cost of your college education, including getting assistance from family, getting a part time job, or applying for student loans. However, one of the best options to explore is applying for education grants. There are numerous private education grant sources to explore, as well as federal grants. If you qualify, you may pay far less, or potentially nothing at all for your college education.

Education Grants Versus Student Loans

When deciding whether to apply for a student loan or a grant, you need to understand the difference between them. A student loan is money you borrow that you must eventually repay, unless you eventually qualify for loan forgiveness. A grant is money provided to you that you are never obligated to repay in the first place. The advantages of a loan are:

• Loans are more widely available than grants, so they are often easier to obtain.
• You can borrow any amount you need with a loan, provided you have the ability to pay it back.
• Student loan payments can help you build your credit.

The primary advantage of applying for grants instead of loans is there is no repayment obligation. If you are not financially stable, grants can help you. A secondary advantage is grants reduce long-term stress. When you have a student loan, the repayment obligation can last for years. You always have to worry about your ability to make those payments on time.

Federal Grants

If you do want to apply for educational grants, one option you have is to apply for federal grants. Federal grants are educational grants offered by the U.S. government. A specific amount is set aside each year for federal educational grants, which means applying does not guarantee you receive funds. To apply for most types of federal grants, you must prove you have a financial hardship level that makes you eligible for assistance.

One of the most common types of federal grants for students is a Pell Grant. You can typically apply for a Pell Grant if you have not yet earned a degree. An exception is if you are studying to become a teacher and are enrolling in a post-baccalaureate program. Other types of federal grants for which you may qualify include:

• Teacher Education Assistance for College and Higher Education (TEACH) Grants
• Service Grants for Children of Deceased Service Members
• Federal Supplemental Educational Opportunity Grants (FSEOG) Grants
• Federal Grants for Students Wishing to Study Abroad

State Grants

Every state maintains a list of state grants. State grants are funds set aside to help residents of each state continue their educational journeys. For example, Florida's Student Assistance Grant Program provides need-based grants for Florida residents. Some state grant programs provide grants based on need and merit combined. To obtain such a grant, you must demonstrate the corresponding skill. Certain states also offer special circumstance grants, such as the Governor’s Education Grant for Unemployed Adults offered in Delaware.

Private Grants

Federal grants and other public grants are funded by tax dollars. However, private grants are also available. Private grants are typically offered by companies or organizations and are designed to help the advancement of specific demographic groups or students interested in certain professions. For example, there are multiple private grants offered for journalism students. There are also private grants offered for students of certain ethnic or religious backgrounds. Some private grants are also created to assist students with special circumstances, such as homelessness.

How to Get an Education Grant

When you are ready to apply for education grants, begin by filling out a Free Application for Federal Student Aid (FAFSA) form. Next, speak to the college you want to attend. Some colleges offer direct grants. Then visit the website for the Board of Education in your state to see if you qualify for state grants. Follow the steps required by your state to apply for assistance.

To pursue private grant assistance, seek out organizations that provide grants for students like you. For example, if you are Hispanic the Hispanic Heritage Foundation may assist you. You can also look for organizations dedicated to helping students going into your specific field of study, such as organizations providing grants for teachers. A quick online search by profession or demographic may provide you with many options. You can also visit known grant assistance websites, such as The College Board.

Grant Application Deadlines

Grant application deadlines vary by source. Whenever you apply for a grant, always check all of the rules, including the application deadline. In some cases, private institutions allow a small amount of flexibility in their timelines. However, federal grants, state grants, and other grants that are publicly funded typically have strict deadlines, as well as other guidelines to which you must adhere. Make sure you fill out each application thoroughly, accurately, and on time for the best results.

Other Grant Considerations

There are some caveats to consider before applying for any type of grant for college. For example, if you qualify for Pell Grant funds from one college, you may not also collect Pell Grant funds from a second college. You may also be required to repay some or all of your Pell Grant funds or other grant funds if you do not complete the course of study agreed upon when you qualify. For example, switching from full-time to part-time attendance may cause a need for partial grant repayment. Dropping out of college may obligate you to make full repayment of all funds. Private grant rules regarding when grants require repayment vary. Make sure you understand each of the obligations you must fulfill to avoid the need to repay the grant money you receive.