Need Money for College? Learn About Education Grants That Can Give You $1,000s in Money You DON’T HAVE TO PAY BACK
Paying for college can be expensive. And you don’t want to join the growing number of students who are in massive debt from taking out student loans. Instead, education grants for college offer free money that you’ll never have to pay back. To get most federal grants for college, you just need to meet a simple eligibility requirement.
You can easily apply for college grants online in a matter of minutes. Click through our slideshow below to learn all about grants that may help you achieve your higher education goals.
The Federal Pell Grant is a popular type of free student aid. It helps students who are in financial need. With a Pell Grant, you can get up to $6,345 each year – which may be enough to cover your tuition the whole time you’re in school.
The amount you qualify to receive will depend on your financial status, your school’s tuition cost and whether you’re a full-time or part-time student.
To qualify, you simply have to show the government that you need help paying for college. Here’s what the government will look at to determine your Pell Grant eligibility:
- Your household’s total income and assets
- Your household’s composition (number of family members)
- The number of household members attending college in the year that you apply
While Pell Grants are mostly given to undergraduate students, some graduate students may be eligible for them, too. You may be able to get a Pell Grant for a Masters program if you’re enrolled in a teaching certification or licensing program.
In order to maintain the Pell Grant, you have to apply to FAFSA every year, have a specific GPA, stay enrolled in college full-time, showcase your financial need, among other things. Once you get the award, you can receive the Pell Grant money for up to 12 semesters, or six years, which if you are enrolled full-time will help cover your whole bachelor’s studies in the majority of the cases.
The Pell Grant funds do not have any limits in terms of the educational funding from the government, so anyone who applies and who is eligible based on the program’s requirements will receive the money. Applicants are not always awarded the full amount, but by applying for the Pell Grant, you also become eligible for other grants and awards that you can apply for for additional financial aid. Applying for other grants or programs won’t affect the amount of money you can get from the Pell Grant.
The most important part is that the Pell Grant is money that you receive that you do not have to pay back! If you are able to apply, get started as soon as possible. Even when the funds are unlimited, you want to make sure that you apply early!