Auther: John Mark
Created On: 9/11/2019 6:30:00 PM
College education remains a costly proposition and most students find it hard to meet the needs of it on their own. With passage of time, graduating from a decent college is constantly costing higher and higher – almost around $30,000 a year. Even education in public college costs anywhere in the range of $20,000 – surely a pricey figure. So much so, the dependence on grants and loans for education has come to stay. Grants are better of the two alternatives as availing students need not repay the amount. Loans must be repaid with interest too!
Best College Grants
With more and more students in the US aiming to graduate from college and hone up their professional knowledge, the need for Grants for students has been phenomenally on the rise. Typically, the American college student population is interspersed with diverse array from different walks of life. This calls for specially tailored Grants programs to meet this wide spectrum demand. Non-traditional students like adult learners who want to join back the education stream broken by their life compulsions, form a major chunk of the student population. Their financial needs with reference to their educational expenses are met by these Grants sponsored by both Government as well as private advocacy groups.
The student community has multiple avenues in the Grants front. These ‘awards of free money’ might be for
(i) Specific educational expenses
(ii) Specific types of students
(iii) General purpose
Below are the top 3 College Grants for students. While every effort is made to consider various phenomena in grading them in the list, this is not exhaustive by itself. Due diligence is advised in picking the right Grant for you.
1. PELL GRANT: By far this ranks as the Daddy of all Grants. Operated under the aegis of Federal Government, Pell Grant is the first resort for literally every college going student in USA. It is “considered as a foundation of a student’s financial aid package” to which other forms of study aid get added.
The Pell Grant is for those who can substantiate their financial need for education. Students applying for the federal Pell Grant must first fill out and submit the Free Application for Federal Student Aid (FAFSA). The FAFSA process will determine the student’s Expected Family Contribution or EFC. The EFC will be determined by the full disclosure of the student’s household financial information and is used to assess grant eligibility.
A) Low Eligibility Threshold
B) Organized processing procedures
C) Eligibility determined annually based on FAFSA disclosures
D) No repayment needed
E) Covers student's tuition, fees, and room and board expenses
2. ACADEMIC COMPETITIVENESS GRANT
Students desirous of pursuing courses in Science and Mathematics can avail an exclusive Grant to propel their educational forays. Introduced in 2006, the Academic Competitiveness Grant addresses the growing need for improved math and science instruction. This hybrid need-and-merit-based program is ideal for those students who want to pursue college majors in the high-demand and niche areas of Science, Math, Technology, Engineering and prominent foreign languages. This Grant provides financial support for the first two years of the four-year college course.
A) Exclusive avenue
B) Faster processing and disbursal
C) No repayment needed
D) Full financial support during the course.
3. NATIONAL SMART GRANT
The National Science and Mathematics Access to Retain Talent (SMART) Grant can be availed by students of Science and Mathematics from the 3rd year of their college. It is a follow-up program of the Academic Competitiveness Grant which funds the first two years of college. Normally this Grant is of $4000 per year for all those majoring in STEM fields or high priority foreign language courses.
A) Ensures completion of the course
B) Lesser formalities
C) Assured line of financial support