College grants are financial aid programs that do not need to be repaid. They are usually awarded based on financial need, academic performance, or other criteria. Grants can come from federal, state, or private sources and can cover tuition, fees, books, and living expenses.
Federal college grants include Pell Grants, which are awarded based on financial need, and Federal Supplemental Educational Opportunity Grants (FSEOG), which are awarded to students with exceptional financial need. There are also grants for specific groups, such as the Teacher Education Assistance for College and Higher Education (TEACH) Grant for students planning to become teachers in high-need fields.
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State college grants vary by state, but many states offer need-based grants to residents attending in-state colleges and universities. Some states also offer merit-based grants for students with academic achievement or studying in certain fields.
Private college grants can come from corporations, foundations, and other organizations. These grants may be need-based or merit-based and may have specific eligibility criteria.
To apply for college financial aid, students should complete the Free Application for Federal Student Aid (FAFSA) and any other applications required by their state or college. Students should also research private financial aid opportunities and apply for any for which they qualify.
College financial aid can be a valuable source of financial aid for students, helping to reduce the burden of student debt and making college more affordable.