Governmental programs are often used by college students to meet some of or the entirety of tuition costs when attending a college or university. Federal Pell grants can be attained by individuals who meet certain financial needs, meaning they come from low income families or meet certain income requirements. Grants are often used by prospective college students who simply do not have the means to afford college costs and, as a result, may be enable to pursue an education.
However, federal grant programs are available to help students who are, in most cases, pursuing a Bachelor’s Degree and need funding to meet tuition costs. While scholarships and student loans are other forms of financial aid that are available, grants can be easier to obtain for individuals since they may not be as competitive as scholarships, and federal grants to not have to be repaid like student loans.
There are various categories of federal grants that are offered to individuals who are in need. According to the federal student aid grant program’s fact sheet, some Federal Pell Grants can award an annual sum of up to $5,550 for students who have a certain amount of financial need and have not earned a college degree. There are also grants like the Federal Supplemental Educational Opportunity Grant (FSEOG) and National Science and Mathematics Access to Retain Talent Grant (SMART Grant) which may aid specific students.
The FSEOG grant and SMART Grant provide funding up to $4000 annually and are available to individuals who are eligible for or have received a Pell Grant and are attending a university that participates in these programs. While each grant does have certain specific requirements, again, these grants have been set in place to open the door to educational opportunities for students who may have an income that will not allow them to pay college costs out-of-pocket.
While certain grants also require that the recipient major in a specific degree program or commit to a certain career for a set amount of time after graduation, like teaching, these grants can help a low income student began a career path that can afford them opportunities after graduation. Many college students or prospective college students often fail to realize that certain financial aid opportunities can be made available for specific degree programs, majors, or career paths as long as the college student commits to serving in their chosen field for a set period of time after graduation.
Since there are numerous grant opportunities available for college students, with a little time and effort researching, many students may find there are financial aid offers that can make earning a college degree possible no matter one’s financial situation.