Furthering your education can lead to new and higher-paying career opportunities. However, it can be very challenging to put yourself through college without some form of federal student aid. While many students turn to student loans, loans need to be repaid and aren’t always the only option. Education grants can help you pay for college without leaving school with large amounts of debt. Grants do not generally need to be repaid, so long as they are used in the way they are intended.
You might be surprised to learn that you can potentially qualify for thousands of education grants to cover the cost of tuition and other school-related expenses. Regardless of if you’re looking for grants for online classes or in-person courses, there are multiple financial aid opportunities that you can find with one application. Discover how to get grants for graduate students and undergraduate students below.
To receive any form of federal student aid, you must complete the Free Application for Federal Student Aid (FASFA). Once completed, you may qualify for a Pell Grant, an education grant that awards up to $7,395 for the 2023-2024 academic school year. This grant may be used to cover some or all of your education at a community college, four-year university, or trade school.
Additionally, some students qualify for more than the maximum award amount. For example, students can receive up to 150 percent more if they attend classes during winter or summer semesters when most students take a break from school. Not only will doing so potentially increase your education grant reward, but you may be able to graduate faster, too.
Pell Grants are funded by the United States Department of Education. The information you provide on your FASFA gives the Department of Education a closer look at your financial situation, the programs you wish to attend, and the schools you are interested in.
These factors determine the Pell Grant award amount you may be eligible for, as does your Expected Family Contribution (EFC), enrollment status, and school attendance cost. Additionally, the award formula can depend on if you are:
· A Dependent Student: If you are a dependent student, the government expects that your family will contribute some money towards your education, regardless if they actually will. You are considered a dependent student if you are under the age of 24, a dependent on your parent’s taxes, are unmarried, do not have children, and have never served in the military.
· An Independent Student Without Dependents: The government will consider you an independent student for the purpose of education grants if you 24 years old or older, you have served in the military, you are married, or you are pursuing a professional or graduate degree.
· An Independent Student With Dependents: If you match the above criteria, but have dependent children, you will fit this category.
The government will not provide you with education grants beyond the prospective cost of your education. Additionally, you cannot obtain grants for online classes if you are currently involuntarily committed in an institution or in jail.
Pell Grants can be received for more than one semester, so long as you continue to demonstrate financial need and you submit an annual FASFA. The maximum amount of times you can receive a Pell Grant is for up to 12 terms or six years.
Even if you do not meet the eligibility requirements for a Pell Grant, there are other student loan and grant opportunities available. Click the next slide to learn more about additional opportunities to cover your educational expenses.
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