Grants are monies given by different bodies to meet different purposes. One of the many awards given each year is the training grant. However, not all education grants are meant for individuals; some are awarded for the development of the school in general. You can conduct a thorough research to know which bodies give awards for the individuals.
With the cost of going to colleges and universities increasing day after day, many students need student loans or grants to get them through college. A lot of grants are unclaimed each year, so you need to research to know the award you are eligible for and stand a chance to be an education grant beneficiary. Grants perform the same function as scholarship because you do not need to repay them.
Money obtained from education grants can be used for payment of tuition fee, books, house and other cost depending on the speculation by the body giving the grants. Grants are given based on some factors like academic achievement, economic need, student status and physical disability.
Federal Grants: the federal government grants have the highest number of beneficiaries. To be considered for federal grants, you need to apply for the Federal Student Aid (FAFSA). Considering different factors like the parental income and assets, Student income, family size, the application determines how much you need the grant. The following are some of the well-known federal grants:
Federal Pell Grant: this grant is aimed at students that are not financially buoyant. Eligibility is determined by using the information provided during the FAFSA. The amount awarded to each beneficiary of this grant is $5000 per academic year, though it may vary depending on the congressional fund the program receive.
Iraq and Afghanistan Service Grants: this grant is given to children of military men who were killed during active duty.
Teacher Education Assistance for College and Higher Education (TEACH): this grant is given to individuals who agree to teach after graduating from their institution. The award gives up to $4000 to each of its beneficiaries.
Numerous federal grants meet the particular need of everyone; all you need to do is conduct a thorough research into grants provided by the federal government.
State, Institutional, Merit Based Grants: Individual institutions provide financial help for its students. The major factors in securing this aid are academic performance and financial need. Merit Awards are given to students that show exceptional abilities in their course of study. The state government also provides grants for students that meet its requirements. You will be automatically considered for state grants after your SAR, generated during FAFSA, is submitted to colleges in your state.