How To Get Government Grants For School

For those people who are planning to attend an institution of higher education, they are faced with a daunting task of paying for it. In the past few years, the cost of tuition at both public and private colleges has skyrocketed. At the same time, government funding for grants have been reduced. College students are forced to take on more and more loans that can have rather high interest rates.

If you are thinking about applying to college but might not be able to afford it, there are still some government grants available. However, it is important to take action and apply for these grants.

FAFSA Application

The first thing you need to do is fill out a FAFSA (Free Application For Federal Student Aid) form. Now you can fill it out and submit it online. The form asks for you and your family’s background information and economic history. It requires very specific information such as income, assets in your back accounts, and property ownership. This allows the government to determine how much aid you need. Student aid from the government is provided in two forms: grants or loans. Government grants are sums of money given to you for tuition and expenses. Loans are sums lent to you that will have to be repaid at a later date. Government loans are different from private loans in that they are often subsidized; that means the interest for these loans are lower and the government will pay your interest for you if you ever need to defer your loans due to economic hardship.

Grants Based On Economic Need

There are government grants available for those students from low-income or disadvantaged families. A standard formula is used to calculate the amount of aid based on the information reported on the FAFSA form. Both the student and his or her family’s income and assets are taken into account. One example of such grant is the Federal Pell Grant. An allotted amount is given to students each semester. These grants are only available to students who are attending college and have not yet received their bachelor’s degree. Another example is the Federal Supplemental Educational Opportunity Grant, which is also calculated using the same federal formula.

Grants Based on Academic Studies

There are government incentives for going into particular fields of study. Mathematics and the sciences are considered high-demand areas. The government offers the National SMART Grant for students who are enrolled in math and science majors. Another grant is the Academic Competitive Grant, which are given to high academic achievers. You must be enrolled in a rigorous secondary educational program with honors in order to qualify. Both of these grants require that students maintain at least a 3.0 grade point average in order to continue to receive the grants.

Grants for Teaching

Because of a shortage of teachers in many low-income communities, the government now offers grants for undergraduate education if you are willing to teach in a high needs schools after graduation. The TEACH (Teacher Education Assistance for College and Higher Education) grant provides up to $4000 each year. Upon completion, you will are obligated to teach for four academic years. If you fail to do so, grant funding will be converted to loans that have to be repaid to the government.

Where to Search For Grants

There is plenty of information available on the internet on government grants. However, beware of scams that claim tons of government money free for your taking. These advertisements are often too good to be true and require an upfront search fee. Use government websites such as www.ed.gov and www.grants.gov for information