Due to the high cost of college tuition, higher education may be only a dream for some. However, most colleges recognize the financial need that most students have and are willing to provide scholarships and grants to those who qualify. For many, this can help them realize their dream of a college education. Below I will discuss what exactly a grant is and the types of grants available.
What is a Grant?
Grants are similar to scholarships in the fact that they do not need to be repaid. However, many grants require updated information on the progress of the student like their GPA and need to know that they are meeting all of the obligations to receive the loan.
Some grants are given to graduate students to assist in funding research or to promote study in a certain field. If this is the case, these types of grants do not help fund tuition, fees, or other expenses; but only the expenses that are needed for research. The availability of grants for undergraduates is sparse. Grant awards vary in amount and often range from $100 up to $100,000.
Grant Types
There is a wide variety of grants that are sponsored by a plethora of organizations. The common categories for grants are: student specific, subject, degree level, or for minority communities.
Some common grant types are: Federal Grants, State Grants, Minority Grants, Subject Specific Grants, Student Specific Grants, and Women Grants.
Federal Grants are disbursed by the Federal government. One common grant is the Pell grant that was established in 1972 and has helped millions of low-income students pay for college. Another well known Federal grant is the Academic Competitiveness (AC) grant. It is awarded to undergraduate freshman and sophomores with excellent academic records and a demonstrated skill for leadership and service.
State Grants are awarded by each state. These grants are awarded to residents of that state and are based on merit and a need for a particular area of study. Many states offer grants for a particular field of study that is needed in that state, undergrads, low income, non-traditional students, and those who are academically proficient.
Minority grants are awarded to minority students such as African American students. These grants have helped raise the percentage of African American’s who have attained a 4 year degree.
Subject specific grants are awarded with a specific group of students in mind. Some of the most common categories for this type of grant are: non-traditional students, low income, graduate, undergrads, high school students, and military.
Grants for women are pretty much self explanatory. These grants are for women to promote the education of women in programs where they number of women enrolled is low. These programs often include science, math, and business. These grants often assist women who are at a disadvantage or those who want to return to college to finish a degree or start a degree.
If you are currently attending school or someone you know is preparing to start college let them know that you can contact the local schools in the area to find out what types of grant programs are available. However, keep in mind that you do have to meet the requirements before you will be considered for a grant. Once you receive a grant, there are also requirements that you have to meet to keep the grant. Often these requirements include a certain grade point average or you have to be enrolled for a particular amount of hours.
Once you fall below the required GPA or you drop below the required hours you will often lose your grant.
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