Introduction
If you’re a student who wants to get financial aid for college, you need to understand that there are several types of scholarships and grants. One type is a federal grant from the U.S. Department of Education. Another is a state-sponsored scholarship or assistance from your state government. There are also both federal and state scholarships available to students, so let’s go over each type in detail:
Federal grants
Federal grants are the most common type of scholarship or grant, and they come in two varieties: need-based and merit-based.
Need-based grants are awarded based on financial need (i.e., how much money you have left over after paying your tuition). In case you meet the eligibility requirements for any of these aid categories, you’ll typically be required to fill out a FAFSA form before receiving any money from them. Some examples include:
- Federal Pell Grant – A maximum award amount based on full-time enrollment status at an eligible school; awards range from $619-$521 per year ($619-$521/year if enrolled less than 6 hours) depending on your expected family contribution (EFC). Your EFC is calculated as part of the FAFSA form and depends on things like family size, income level, and cost of living where you live; students who receive free lunch at school can also apply for this grant through their state education agency’s website once they’ve completed federal forms online via fafsaonlineorg/#!filing-freely–and-easily/c1v2h7zr0tmd
State grants
State grants are available to students who are state residents and meet certain eligibility requirements. These grants often have specific eligibility requirements and deadlines, so read them carefully before applying for a state grant.
State grants may also be renewable if you continue to meet their criteria and financial need (if applicable).
Federal scholarships
Federal scholarships are awarded by the federal government. There are many different types of national scholarships, including:
- Academic scholarships: These awards are based on your academic performance, such as your grade point average or SAT/ACT scores.
- Diversity scholarships: These awards are based on financial need, race/ethnicity, and other factors that promote diversity in higher education institutions.
- International student scholarships: These awards provide funding for international students who want to study in the United States but don’t have access to other funding sources. They can be used at any accredited postsecondary institution participating in the program (including community colleges).
To apply for these types of federal aid programs, start by filling out an application form online through Federal Student Aid’s website at www2aapdfsfasdfweeuuuetwtfweeuuuuuetwwftfweeuueuewtfeerfaaeeeefaedffedfdeffdeeefdfffddddffddrreeerrrreeeeeeeeerrrrrrreeeeeeeeerrrrrrrreeeeeeeeerrrrrrrreeeeeeeerrrrrrrreeeeeeeer
State scholarships
State scholarships are financial aid programs that are administered by the state government. They often have their own application processes, deadlines, and eligibility criteria. Students may be eligible for federal and state grants and scholarships if they meet specific requirements (for example, being a U.S. citizen or permanent resident).
- Federal financial aid programs include:
- Federal Pell Grants – Need-based assistance awarded to students who demonstrate financial need; available only through participating colleges/universities
- Supplemental Educational Opportunity Grants (SEOG) – Need-based aid awarded based on need rather than merit; available only through participating colleges/universities
- State-based financial aid programs include:
- State Tuition Assistance Programs (STAP) – Grant money provided by individual states to help pay for college tuition costs; often requires recipients to maintain good grades at school to continue receiving funding from STAP
Pell Grant
Students can receive the Pell Grant, which is a federal grant aimed at providing financial assistance. With demonstrated financial need. It is awarded to undergraduates who have not earned a bachelor’s degree or higher and can be used at any institution of postsecondary education participating in the program. To be eligible, students must be enrolled for a minimum of six credits per term, which corresponds to being enrolled at least half-time. To receive their total award amount each year, if they fall below this threshold, they will receive less money each month until they reach it again. The maximum annual award amount varies depending on your academic status:
- First-year students get up to $5,500 per year
- Sophomores receive $6,000 annually
- Juniors and seniors may qualify for up to $7,250 annually
FSEOG
The FSEOG is a federal grant for undergraduate students with exceptional financial need.
This need-based grant does not have to be repaid, so it can help you pay for college expenses even if you don’t qualify for other forms of financial aid like loans or scholarships.
The amount you receive will depend on your FAFSA information and your school’s funding level; each university has its limit on how much money they can give out as FSEOGs each year (usually between $500-$5,000 per student).
TEACH Grant
The TEACH Grant is a state-based grant for students who plan to teach in high-need areas. The TEACH Grant is a need-based grant, so you must have a financial need to qualify.
If you’re interested in applying for this type of scholarship, consider whether your state offers its version of the TEACH Grant program. You can find out what requirements are needed for your state by visiting their website or calling them directly (the number should be listed on the website).
If you are looking for financial aid to help pay for college, you have to know which federal and state-sponsored scholarships and grants are available.
If you are looking for financial aid to help pay for college, you have to know which federal and state-sponsored scholarships and grants are available. The FAFSA website lists all the federal funding opportunities available at each school. You can also search for scholarships by state from our database of more than 2 million awards!
Conclusion
Many federal and state-based scholarships and grants are available, but if you’re looking for financial aid to help pay for college, you have to know which ones are right for you. The first step is to research what kind of funding opportunities exist at the federal level and within individual states. Then once you have identified those options, begin applying for them! If all goes well (and we hope it does), your future will be bright by the time graduation day arrives.
