Finding and searching through school grants can be time-consuming, but it is well worth it. Grants, unlike loans, do not have to be paid back, which significantly reduces your lifetime debt. This guide will point you in the right direction.
Grants can be obtained through the government and will normally have various restrictions and requirements. These grants are normally available to students as well as businesses. You can find out more about government grants at Grants.gov. This site will tell you about the application process, resources, and about which types of grants are available.
In order to find information about state grants, go to your state government’s website. Federal grants can be found at CFDA.gov in the Catalog of Federal Domestic Assistance guide.
Types of School Grants
Federal Pell Grant – This is one of the most common grants for students. You will be informed if you are eligible for an award package after completing the FAFSA or the Free Application for Federal Student Aid. The average award is typically around $2,900.
TEACH Grant – This grant program gives students who are going into the field of teaching assistance through the Teacher Education Assistance For College and Higher Education program. This grant offers up to $4,000 a year to a student who is committed to teaching at schools where the majority of the students are from low-income families. Teachers also have to commit to a high need subject matter such as, math, reading or science. If that student somehow fails to meet all the requirements after being awarded the grant, the grant will be converted into a loan with interest for repayment; interest is dated back from the time the grant was dispersed to the student.
State Specific Grants – Each state have different types of grants that they offer college students. Tennessee offers duel enrollment grants that are awarded to high school students who are also taking college courses. You can find the TEXAS grant called Towards Excellence Access and Success in Texas at Collegeforalltexans.com. This grant is mainly for students in high school are not able to financially go to college. Kentucky students have the opportunity to receive assistance from CAP or The College Access Program. This program gives students a chance to apply and enroll in different technical schools, universities and colleges.
There are also several grants that are offered depending on your situation such as, private school grants, single mom grants, women grants, nursing grants, etc. You can find most of these grants online while doing a search. Normally there is nothing the student will have to do in return, but sometimes students are asked to write a thank you letter or even attend an event acknowledging the grantor.