Good NestingThe Best Forms Of Financial Aid For School
You don’t have to look hard to find stories of graduates saddled with deep debt from their studies. In fact, some have so much student loan debt that they wish they never went to college in the first place. How can you avoid having a similar story? By using student loans as a last resort, as they will have to be paid back in the future with interest. What should you look for instead? Grants and scholarships, as they give you free money for college that you won’t have to worry about paying back.
How To Find Grants
Grants may be the best form of financial aid out there since they’re not only “free money,” but they’re also less competitive and easier to access than scholarships. Unlike scholarships that are primarily merit-based, grants tend to be distributed according to financial need. In other words, if you can show you need money for college, you could be good to go with grants as opposed to scholarships, where you’ll have to compete against others via GPA, accomplishments, etc.
To find college grants, take these steps:
1. Start with your FAFSA.
Your Free Application for Federal Student Aid should be filled out and submitted before taking other steps. Not only will it help you show financial need to become eligible for Pell Grants worth up to $6,895 per year, but it will also determine your eligibility for other federal government awards.
The benefits of filling out your FAFSA don’t stop there, though, as it will also show potential schools your financial need so they can send you offers.
2. Look for state grants.
After you search for federal grants using step 1, move on to your state. Click here and see what your state has to offer in terms of college grants.
3. Search for grants from schools.
Colleges offer grants to recruit students. If you have a list of schools you’re interested in, contact their financial aid offices and see what grants are available.
4. Search online for grants.
You can find grants online by searching for awards related to your major/career, gender, ethnicity, and other unique situations, such as “grants for adult students.”
How To Find Scholarships
With your search for grants out of the way, it’s time to see what scholarships are out there. You can achieve this goal by searching for scholarships in this logical order:
- Ask friends and family if the companies they work for offer any scholarships.
- Contact your school’s financial aid department for a scholarship list.
- Get a scholarship book directory that lists different awards you can apply for.
- Do an online search for scholarships using the same tip listed above for grants.
