Avoid Student Loans By Getting Free College Grants

For many, there’s one big thing standing between them and their dream of getting a college degree. It’s not so much the time investment required to study and attend classes. Instead, it’s thousands of dollars of debt that are scaring potential college students away.

After all, who wants to complete college and begin their professional career, only to have to worry about how they’ll fit student loan payments into their budget? Could working for a while and saving to finance your education avoid this issue? Sure, but that could take a long time until you get enough money saved up for tuition and other expenses. Plus, there’s an even better option to find funding.

Grants Versus Student Loans and Scholarships

A college grant can help pay for your education just like a student loan can. Unlike a loan, though, you do not have to pay a grant back. In other words, getting a grant means you’re basically receiving free money so you can avoid going into the deep debt that saddles many graduates.

Beyond the fact that grants are free money and won’t cost you an arm and a leg like student loans will, they also have an advantage over scholarships. While a scholarship is another form of free money you can use to fund your education, grants may be easier to qualify for and receive. This is because grants are usually based on need, such as having a low income.

Scholarships, on the other hand, tend to take merit into account, along with need. With merit being part of the equation, you may need a stronger resume to get a scholarship. For instance, you may be up against other students gunning for that same scholarship with excellent grades, loads of extracurricular activities on their profile, etc. Apply for a grant that mostly looks at need and factors such as income, and you may have an easier time winning it.

Where To Look for College Grants

Now that you see why getting a grant for college is so advantageous over other forms of educational funding, let’s discuss where to find this free money.

Your best bet is to start with the federal government to widen your options. To do this, you want to allow universities to see where you stand when it comes to need, which can be achieved by filling out your Free Application for Federal Student Aid, or FAFSA form.

With that out of the way, you can start seeing which grants are at your disposal, as any colleges you’re accepted to will begin sending you letters. For instance, you may be notified that you qualify for Pell Grants, Federal Supplemental Education Opportunity Grants, etc.

Keep an eye out for such financial aid letters, as you’ll want to respond as soon as you get them in the mail since grants are limited.

After seeking federal college grants, it’s time to move down to the state level. To find college grants from your state, go here and contact the agency that corresponds to where you live.

Beyond federal and state college grants, you may also have luck dealing directly with colleges. To see what grants your college has to offer, get in touch with their financial aid office.