Looking for College
Grants?
Author: Michael
Carter
Grants are a type of student aid that
is awarded by the government. Grants for college students do
not have to be repaid. Grants are based upon financial need,
as calculated by the federal aid program. The first step in
applying for government grants is by completing the FAFSA.
Of course every student and parent would
rather receive grants instead of loans, since they do not have
to be repaid. So the student hopes to see a grant award when
the results are returned from the application.
There are a few things to be aware of,
however, when expecting a grant. The funds available for grants
are limited, therefore the grant will not usually fully fund
educational expenses. If the student is planning on attending
a community college where tuition rates are lower, it is possible
that grants will cover a greater percentage of the tuition
and fees.
The second thing to be aware of is that
when the need analysis is done by the government or school,
the expected contribution of the parent is usually higher than
in reality what is possible for most families. This expected
contribution effects the amount available to the student for
grants.
You can find out what your expected family
contribution might be by using the calculator at collegeboard.com:
http://apps.collegeboard.com/fincalc/efc_welcome.jsp Another significant factor is that if
the parent or guardian claims the student as a dependent on
income tax returns, this effects the amount of aid available
to the student. In general, a student who is 'independent'
of the parents as far as the tax law goes, will receive more
in financial aid awards.
First year students may find that they
receive fewer grant awards than they expected. However students
who are sophomores, juniors or seniors are more likely to get
more grant awards. No matter what year of school you are in,
complete the FAFSA every year so that you will be considered
for available grants.
About The Author
Michael Carter is a contributor at College
Financial Aid Guide, an online informational resource for educational
funding, scholarships and student loans. Learn more ways to
get money for college at: http://www.collegefinancialaidguide.com. |
