Going to college is rather essential but paying for it can be difficult. Luckily, there are a number of financial aid options including federal grants.
Federal grants are free government funds that don’t have to be repaid. They are usually determined based off of your Federal Application for Student Aid (FAFSA). Here are a few federal grants that can help you get the college education you need to thrive in today’s world:
THE PELL GRANT
The federal Pell Grant is given based on the financial need of the student, but more factors than that are considered. The U.S. Department of Education also looks at the degrees that the student has or has not already earned and if the student is incarcerated in a federal or state institution.
There is a maximum that you can earn based on need. This maximum fluctuates each year, but the 2018-19 maximum is $6,095. Other factors to your application can include if you will be a full- or part-time student, how long you plan to attend, and how much it costs to attend the college of your choice.
The Federal Supplemental Educational Opportunity Grant (FSEOG) is usually awarded to those who have a very big financial need. Some schools do not participate in this program because the funds are administered by the school.
While the federal government guarantees that the Pell Grant is made available to every student, FSEOG isn’t promised. People who qualify for this grant can receive anywhere from $100 to $4,000 a year. Eligibility for this grant is determined by your FAFSA form.
The Teacher Education Assistance for College and Higher Education (TEACH) grant requires the student to take certain classes and follow a teacher career path in order to get the funds. To qualify for the TEACH grant, a student must score about the 75th percentile on college admissions test or maintain a cumulative GPA of 3.25.
If the student doesn’t follow through with the career path, these funds turn in to a loan that must be repaid to the federal government. Students are expected to complete a TEACH grant counseling session each year in order to receive the up to $4,000 a year the grant can offer.
IRAQ AND AFGHANISTAN SERVICE GRANT
This grant is awarded to students whose parent or guardian died as a member of the U.S. armed forces during military service performed in Iraq or Afghanistan following 9/11. The student must have been under the age of 24 or have been enrolled in college at least part-time when the parent or guardian passed.
This grant is specifically for those who aren’t eligible for the Pell Grant because of their Expected Family Contribution. Students can get up to the same amount per year as the maximum Pell Grant.
Stop worrying about how you will pay for college before you fill out your FAFSA form. You may be surprised at the financial aid you qualify for!