Most students seeking money for college have heard of and applied for all forms of federal aid that are available by filling out a FAFSA; however, few students are knowledgeable about foundation grants. These grants are provided to thousands of college students each year, with total yearly awards between all foundations totaling in the billions of dollars. Competition for these types of grants is not as fierce as that for federal grants. This is largely due to the relative obscurity of foundation grants and the fact that they are rarely advertised. Because of this, students who have good research skills and can diligently make multiple applications with a great variety of awarding agencies will stand a good chance of obtaining the grants they need.
A foundation is any private person, entity, or organization that is not for profit or charitable in nature. This definition makes it easy to see how these grants are so readily available: they are typically offered by entities whose sole purpose is to provide philanthropic services to others. This includes students seeking grants to help pay for college. Each individual or group that offers grants will have their own set of rules, requirements and award amounts. This can be confusing to some students, so careful study of each type is critical. Additionally, these type of grants tend to be quite specialized- some might only provide funds for college to Native American students, some only to battered or abused women, and some only to students who are studying abroad. While this might seem like a complicated manner of awarding grants, it usually works in most students’ favor, as there is generally a grant available somewhere for every student regardless of their program of study, ethnicity, or other individually-specific attributes.
Benefits of Foundation Grants
Foundation grants are generally easier to obtain than sources of federal grants, and usually the total award amounts are far higher than what is offered through the US Department of Education. Some grants are awarded in the tens of thousands- especially to graduate or doctoral students. Regardless of the award amounts, students should be able to find the right grant they need simply by referring to the main purpose of the organization. For instance, the Future Farmers of America organization provides millions of dollars in grants each year to students who are studying agricultural subjects. Another example is the American Floral Endowment, which provides money to students who are researching or studying various aspects of horticulture.
Some grants can even be awarded to international students, or to American students studying abroad. One such example is the Margaret McNamara Memorial Fund, which awards grants totaling more than ten thousand dollars to female international students who wish to better their homeland by studying in the US. Conversely, some foundation grants are awarded to students who have already taken steps to better their communities, such as the Hitachi Foundation’s $5,000 grants that are given to high school students before they enter college.
It’s easy to see how specialized a grant can be. However, some grants can be general in nature, such as those for photography, the arts, or anthropology students. In general, the best way to research grants is to have an understanding that each foundation typically only awards money to students who further their cause. Even if a student does not meet the general guidelines for the grant, they may be able to make a case for their specialty during the application process. Because each grant comes from a different organization with differing requirements, students are encouraged to conduct online searches, contact their schools for assistance or resources, or begin making contacts to organizations that interest the student. This can be done even if the student cannot find any information relative to whether or not certain organizations offer grants. Because many foundation grants are not advertised, direct contact with a group of interest may yield the best results.