There are thousands of federal grants issued by the government each year that together total billions of dollars in available aid. However, there is fierce competition for these grants- especially when it comes to grants for college. The primary reason for this high level of competition is because unlike scholarships, work study and student loans, grants never have to be repaid; provided they are used correctly. But grants can be easily obtained by the student who knows what grants to apply for, how and when to apply and how to utilize the funds once awarded. The following is a description of federal grants that are specifically designed for college education purposes.
The Pell grant is the largest and most popular federal grant available to college students. The Pell grant is awarded to students with financial need to attend classes at more than 4,000 colleges and universities nationwide. In most cases, the Pell grant is only available to undergraduate students. The maximum amount of this grant is $5,550, although some students who are rapidly finishing a degree program may be able to obtain two Pell grants in one academic year. In order to apply, a student needs only to fill out a FAFSA at any college, university, trade school, or nursing program.
One type of federal grant, the Federal Supplemental Education Opportunity grant, is specifically designed to be awarded in conjunction with the Pell grant. Students with severe financial need who also qualify for the Pell grant will be given preference when awarding a FSEO grant. Students may only receive this grant once per school year, with the maximum award being $4,000. Students whose financial need is not as severe may still be able to get this grant if their program of study improves the general public or national infrastructure.
Some grants are awarded to students who excel in their academic studies. This is known as the Academic Competitiveness grant. This is only available for undergraduate students in their first or second year who demonstrate superior academic achievements. There are certain restrictions, such as minimum GPA and program of study, and the maximum award is $1300. However, students may be awarded this grant during both their freshman and senior years.
There is a large pool of grants know as the TEACH program, or Teachers Assistance for College and Higher Education grant. This federal grant is for students who wish to become employed as a teacher in an elementary or secondary school that serves low income families. While funds awarded under this program do not have to be repaid, there are a number of restrictions. Students who receive this award must agree to teach for a minimum period of 4-5 years. If this obligation is not met, the amount of the grant will be converted to an unsubsidized Stafford loan. The maximum award available under the TEACH program is $4,000 per academic year.
Alternate Sources of Federal Grants
One excellent source of grants is the National Endowment of the Arts. This foundation works with the federal government and the US Department of Education to provide resources and grants to students of the arts. Federal grant money under this program can be obtained to study music, arts education, design, literature, media arts, visual arts, theatre and other art-related studies. Students seeking grants through the NEA should apply directly on the foundation’s website.
Regardless of what source or sources are used to obtain grants, there are a few guidelines that students should follow in order to maximize their chances of receiving an award. First, students are encouraged to apply for as many grants as possible- there is no limit to the type or number of grants a student can apply for. However, it should be noted that grant awards will often reduce the amount of other aid that a student receives, so it is important to weigh these benefits carefully. Students should study grant applications carefully before filling them out, as mistakes or omissions can lead to delays in processing or even rejection of the application completely. All students seeking any kind of federal grant should fill out a FAFSA- this will enable to students to apply for multiple federal grants on one streamlined application.