Nov 212011

Looking to apply for grants for college?

What’s the difference between scholarships and grants?  Neither has to be repaid if you fulfill the requirements.  These 5 college grants are worth taking a look at when you go to apply for grants for college.

Pell Grant Federal Pell Grant

In order to apply for the Pell Grant you must first complete the FAFSA which is free to apply for.

Quick information on Pell grants:

  • A Federal Pell Grant, unlike a loan, does not have to be repaid.
  • The maximum Pell grant for the 2011-12 award year (July 1, 2011, to June 30, 2012) is $5,550.
  • The amount depends on your financial need, costs to attend school, status as a full-time or part-time student, and plans to attend school for a full academic year or less.

TEACH Grant -

There is a service obligation with this grant.  If you do not fulfil your obligation than you will need to repay the grant in the form of a loan.  You’ll need to teach 4 years in a location that is considered low-income.

FSEOG Grant -

This grant is for people that are in real need of money, even more so than the Pell Grant.  This is for undergraduates and does not need to be repaid.

The amount of this grant is from $100 to $4000 per year.

ACG Academic Competitiveness Grant -

There are a lot of rules that go with this grant.  You first need to be a recipient of the Pell Grant to get the ACG.

You also need to be a really good student and in a competitive area of study.

National SMART Grant -

The National Science & Mathematics Access to Retain Talent Grant (National SMART Grant)

As the name says you need to be studying math and science to qualify for this grant.  You also need to be in your 3rd, 4th or 5th year of an undergraduate program.  The amount of the grant can not exceed the total cost of tuition when combined with a Pell Grant.

 When to apply for grants for college?

You will first need to fill out and submit your FAFSA. Plan to have it completed in early part of the year in February if possible.  You can estimate your tax information if it is not available and update your FAFSA form later.  Deadlines for filling out the FAFSA vary by state and school.

Make sure to apply for grants for college as soon as possible.