There are around 40 million students in debt from earning a college education or at least attending college for a semester or longer without earning their bachelor’s degrees.
If you are about to graduate high school and are thinking about returning to college later in life, you might be wondering how to make college more affordable. You have to think of ways to go to college without drowning in debt.
This is why it’s important to consider the value of grants. This is a way to make college more affordable.
Grants can help pay for classes, books, and living expenses, especially if you consider living in a dorm.
Here’s a guide on everything you need to know about federal grants and how they can make college more affordable for you.
What Are Grants? Why Do You Need Them?
If you are stressing out about paying for college, federal grants can help you relieve that stress. Federal grants are awarded by the government to people who require financial assistance.
The grant can be awarded to anyone who needs severe financial assistance to help pay for college. In some instances, without the grant, the person may not have the resources to attend college.
You, as a student, may not realize that you are eligible for grants. That’s why you should look into them and see what information is needed by the government to help you qualify for grants.
Overall, the more you know about federal grants and how to make college more affordable online, the more you realize they go hand-in-hand. If you want to save the most while attending college, you can do it while studying at home and getting awarded grants.
But what grants should you look out for that can help you?
Here’s a guide on some of the best federal grants that can help make college more affordable.
What Is the Federal Pell Grant?
The first and foremost grant you should be aware of is the federal pell grant. This is awarded to students who have an exceptional need for resources before they attend college.
The federal pell grant is awarded to undergraduate students who may be living in poverty. This is why students who are figuring out how to make college more affordable for poverty should consider looking to the federal pell grant.
You might be wondering, how much do you get with the federal pell grant?
This is a great question because you want to know how much you can cover college expenses. The federal pell grant maximum you will get is $6,345, which can help pay for many expenses.
While it may not cover all of the tuition for some schools, it can still go a long way towards paying for books and other expenses.
One of the great things about the federal pell grant and all kinds of college grants is that they don’t need to be repaid. You can be awarded the maximum of $6,345 and not have to pay a penny back.
What Is the FSEOG?
The federal supplemental educational opportunity grant is also awarded to students who have an exceptional need for financial resources.
The FSEOG, however, is only accepted at some colleges and universities. This is why, before you consider going to any college, you should see what colleges or universities accept this award.
You can accept this award every year. The amount you’ll receive will vary between $100 and $4,000. It depends on who much financial assistance you qualify for.
What Other Grants Exist?
There are also service grants, particularly if you had a family serve in the Iraq/Afghanistan conflict.
The amount you can get for the Iraq/Afghanistan service is the same as the federal pell grant, which is $6,345.
Another type of grant to consider as you enter college is the TEACH grant. This grant is for people who are planning to become teachers in low-income districts. This helps encourage people to pursue the educational field.
It also helps potential teachers pay for their education because they are often underpaid in their field.
How Do You Apply for These Grants?
Now that you understand federal grants, you need to know what steps to take that can help you get awarded these federal grants.
The first step is to talk to a college or university’s financial aid office and see what they offer in terms of grants. You may realize that the university doesn’t accept FSEOG, which means you’ll be in more debt if you attend that college or university.
Another step you need to take is making sure your financial aid application is ready before the start of the school year.
This means you need to go to FAFSA and get your application set up. The website will ask you what your family contribution is, the cost of your school, and if you plan to attend full-time or part-time.
The final question is important because if you attend part-time, paying for college is much lower. You may not need grants if you are only attending college part-time.
Grants Are How to Make College More Affordable
Figuring how to make college more affordable can be challenging, especially if you don’t know what to do. This is why you should look into college grants.
They can help you find a pathway to make college more affordable. Federal grants are a resource that every student should look into. You want to see how much your family needs to make in order to qualify for some grants.
If you want help with finding college financial resources, you can check out our resource page here.