High school seniors are in the position to obtain numerous scholarships and grants as financial aid for college. Obviously, the majority of students entering college are out of high school, so there are many types of scholarships, as well as grants that are available.
Grants and scholarships are similar, in that they are money given to pay for tuition and other expenses of college, and these funds never have to be paid back.
Grants are given, mostly, for income-based purposes. The popular Pell Grant is a governmental grant that is given based on a student’s income, or more specifically their family’s income. These grants are available to anyone that wants to go to college, but their household income simply won’t allow it.
Scholarships, while mostly academically based, are available to almost anyone for a number of uses. Anything from the college one attends to the degree one pursues can open doors to new scholarships. Again, the majority and usually largest scholarships are merit-based, but there are endless scholarships for which anyone can apply.
Student loans are usually in the future for most college-bound students, but before turning to student loans or even taking them for a school year, a high school or college student needs to first exhaust their scholarship and grants options when in comes to funding their education.