Government Grants for College
Today various types of grants are available – some are issued by non-profits across the world and others are provided by renowned organizations and companies. However, the government grants are the best and these grants are most dependable ways for funding college. Hence, if you are on the lookout for making your dreams come true, you have to know how to find, qualify for, and apply for government grants meant for college.
Types of Government Grants
Federal grants and state grants are the two major types of government grants. The federal grants are active for quite a long time and its aid is rather clear-cut. The government offers college grants due to the fact that if its citizens get educated, it gets benefitted too. It is a common knowledge that most affluent nations are highly educated as well. When people receive higher education, often they get abilities for imposing critical thinking. So the government, in fact, desires that people should go in for higher education.
Actually, educating its citizens is in the best interest of the government and it provides college grants precisely owing to this reason. Various kinds of government grants are put forward to promising students. Grants are available for people who belong to brackets of low income or have troubled backgrounds. Even grants are given to students who intend to attend college simultaneously doing full-time job and rearing families. However, generally, government grants are awarded to those who have shown distinction and competence earlier in school.
People who want to go to college, federal college grants would make it easier for them. Unlike loans, for college grants you don’t have to pay it back. The government is interested in bringing individuals from brackets of lower income to the pinnacle of society – particularly those who have got academic excellence. Certain people may not have the eligibility for these grants like the persons having too high incomes and those who had to struggle academically without having the grade point averages (GPA) needed to gain government grants. Therefore, mainly federal college grants are of two kinds: there are need-based grants which are provided to people who are monetarily insecure and merit-based grants which are offered to students who perform well in school maintaining a certain GPA.
Different Types of Available Federal Grants Are:
The Federal Pell Grant: One of the most common modes of student aid is the Pell Grant which is need-based rather than merit-based. It gives grants to students who are going in for undergraduate degrees, and in certain cases post-baccalaureate students may also get qualified for this grant. In order to ascertain eligibility for this grant, the government abides by specific formula which takes into account the student’s overall family income in comparison with the expense of attendance to the particular university attended by the student.
Academic Competitiveness Grant: For the students of low income but having a very high GPA, another available federal grant is the Academic Competitiveness Grant. This grant has only restricted sum of money and so if you are counting on receiving one, note that it has a very competitive process. The Academic Competitiveness Grant also sticks to the income criteria followed by the Pell Grant, so you will not be able to get this grant if you do not qualify for receiving the Pell Grant.