Financial support is one of the major issues concerning the students who are ready to join a college for further studies. In the United States, the federal government reserves a big pool of financial aid for the students in the form of federal. The fact that these grants are never repaid by the students differentiates them from the private student loans.
Here is a discussion that should help you learn about the federal grant money in detail.
Applying for Federal Grant
The application that must be filled to apply for federal student grants is known as the Free Application for Federal Student Aid (FASFA). It is recommended that you take help from a student counselor in your school to fill the application correctly.
Federal Grant Programs
There are many federal programs available with the government that can assist a student for a major part of the college fee. Here are the main federal grant programs for students:
Federal Pell Grant: In this program, the grants are awarded to the students belonging to low-income families. Up to $5,000 can be availed by a student under this program.
Supplemental Educational Opportunity Grant: The students with exceptional financial needs, which can’t be fulfilled by Pell grant, can apply for the supplemental educational grant.
SMART Grant: The students that do impressively well in the fields like science, math, technology, engineering and others can apply for SMART federal grant.
Academic Competitiveness Grant: Impressive academic achievements can make a student qualify for this type of federal grant. The financial need of the student is also assessed to find him or her eligible for the grant.
TEACH Grant: The students preparing to become future teachers and agreeing to teach in a low-income public school can apply for this grant.
Considering the number of students joining college every year, the federal programs are made complex and the eligibility conditions are not straightforward. Apart from having a valid Social Security Number, the students have to qualify for their financial needs. Enrollment with a program that is eligible for grant and satisfactory academic record in the school are other requirements. In addition, the student might have to pass the test conducted by the education department.
Take help from a student counselor in taking right steps to enhance your chances of getting a financial grant.