Grants
A grant is “free money” that doesn’t have to be repaid. Grants are awarded based on financial need, and are available from the federal government, state governments, schools and private organizations.
For example, the Federal Pell Grant awards up to $4,050 to eligible undergraduates who have not yet earned a bachelors or professional degree.
The Federal Supplemental Educational Opportunity Grant (FSEOG) program is awarded to full-time and part-time students with exceptional need—that is, students with the lowest Expected Family Contributions (EFC). Your EFC is determined by the Free Application for Federal Student Aid (FAFSA). FSEOG awards range from $100 to $4,000 per year, depending on when you apply, your level of need, your school’s funding level and school policies. Like a Pell Grant, an FSEOG does not have to be repaid.
To qualify for a grant, submit the Free Application for Federal Student Aid (FAFSA) as soon after January 1 as possible. Funding for grants is limited and is awarded on a first-come, first-served basis.
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