Mammoth AwardsSo, you just got accepted to a local college, big-time university, or a career school. While the excitement of that accomplishment is great, it may be overshadowed by worry about something pretty significant: The cost of that schooling. After all, continuing education isn’t cheap, and unless you have hefty savings or help from family, you’ll need help with paying tuition and other expenses.
Can student loans swoop in to save the day? Sure, but they aren’t exactly gifts since you’ll have to pay them back. And this alone may make you dread paying for college.
What’s a better option? One that you do not have to worry about paying back, which is precisely what a federal student grant can provide.
While the number of college grants you’ll find is vast, here are four federal student grant programs worth focusing on, at least at the beginning of your search. Please remember that the award amounts can change every year:
1. Pell Grant
If you had to make a list of the top college grants, the Pell Grant would probably sit at the top. It’s quite popular among students, and if you qualify for it in the current year, you can receive up to $6,345 in funding for school.
Qualifying for a Pell Grant is relatively simple. First, you must have a financial need that shows you’ll need help paying for your education. Second, you cannot have a degree, as this grant is mostly reserved for undergraduate students. If you are doing a teacher certification program, you may still qualify, but that’s pretty much the only exception.
Pell Grants last for 12 semesters. Once you use all 12 up or you graduate, your Pell Grant eligibility will end.
2. Federal Supplemental Educational Opportunity Grant (FSEOG)
The FSEOG can combine with your Pell Grant money to give your bank account a significant boost while completing your studies. If eligible for a Pell Grant – which you’ll know by completing your FAFSA form – you will receive priority for this grant that can give you up to $4,000 per year.
It’s worth noting that all schools do not participate in the FSEOG, and its funds may be limited, which is why you should complete your FAFSA form as soon as possible to get in line for these and other federal student benefits.
3. Teacher Education Assistance for College and Higher Education Grant (TEACH)
As you can tell by its name, this federal student grant is focused on those looking to work in the teaching field. Unlike the first two grants in the list, TEACH is available to those who have already earned their degree and are looking to further their education.
You can receive up to $3,764 through TEACH. Once again, that amount may change.
4. Iraq and Afghanistan Service Grant
This grant was initiated to help students who lost a parent or guardian through military service in Iraq or Afghanistan after 9/11. Should you qualify, you could receive up to $5,829.50.
