Understanding and Applying for Federal Grant Programs
Written by Gloria Zhu   

This article explains the types of federal aid provided to college-bound or college students who demonstrate financial need. 
 
Now that you have been accepted to college, you are now faced with the issue of paying for it. Through FAFSA, you can receive federal, state or private aid by applying for grants, loans and scholarships. 
 
Type of Financial Aid Federal Aid State Aid Private Aid
Grants X X  
Scholarships X X X
Loans X X X
 
To be considered for federal and state aid, you must complete and submit the Free Application for Federal Student Aid(FAFSA) online or in hard copy. To learn how to do so, read our article on A step-by-step Guide to the FAFSA. 
 
If you are qualified, you can receive free college money—this means you do not have to pay them back. These grants are given to a diverse population of students so apply, apply, apply! 
 
Tip: Every year, almost 2 million students do not file for federal aid because many of them mistakenly assume they don’t qualify. Don't be one of them!
 
 
Types of Federal Grant Programs

There are many different types of federal grants available for college students from different walks of life. The goal is to help students afford college. You can receive between $100 and $4,000 a year, depending on when you apply, your financial need, the funding at the school you're attending, and the policies of the financial aid office at your school.
There are Two Major Types of Federal Grants: 

1. Federal Pell Grants: The Federal Pell Grant Program is probably the most popular of the federal grants. This is because it helps many students with a proven financial need, not depending solely on family income. This “need” may be derived according to the number of people in household, number of dependents attending college at any one time and family assets outside of income which include the house or other estates. For the Pell Grant, it is not based on the family income but a student’s situation in its entirety. 
 
2. Federal Supplemental Education Opportunity Grants: The Federal Supplemental Education Opportunity Grants(FSEOG) are given to students who have a very low expected family contribution(EFC) as reported on their Student Aid Report(SAR). It is meant for students with the greatest level of need. Pell Grant recipients with the lowest EFCs will be the first to get FSEOGs.  
 
 
If I am eligible, how will I get the FSEOG money?

If you're eligible, then will be paid at least once per term whether by semester, trimester or quarter by check or your school will credit your account. Check your SAR and your school's bursar office if you don't see the fund.
 


 
Last Updated on Thursday, 16 December 2010 20:45