College attendance is increasing every year, along with the tuition rates. Student loan debt after graduating college is one of the largest problems in our country today, and it doesn’t appear to be slowing down. There are multiple educational grants available to everyone, the Pell Grants TEACH Grant, FSEOG, and Iraq & Afghanistan Service Grant. One of the most awarded of these is the Pell Grant, which is awarded to nearly one-third of all those who apply for financial aid.
All students that are attending college must fill out the FAFSA, Free Application for Federal Student Aid, in order to be eligible for any kind of financial aid. Nearly every institution requires the FAFSA to be completed to receive any university scholarships or grants. The FAFSA is required to receive any grants through the federal government, and it may be required through any private foundations. The FAFSA must be reapplied for every year to begin or continue to be awarded an educational grant.
There are general requirements associated with the Pell Grant, such as holding a GED or high school diploma, academic success, US citizen or permanent citizen, and it is based on financial need. Students that are in financial need and meet the other requirements could be awarded up to $5,550 a year, which may vary on the level of education they are obtaining and the program they are enrolled in.
Another way to receive a Pell Grant is through the FSEOG or Federal Supplemental Education Opportunity Grant. This is a program that gives participating universities Pell Grants to award to those that have the highest level of financial need within their institution.
Planning your college career is a very stressful task, but completing the proper educational grant research can help relieve some of that stress. It is vital to ensure that you meet all of the requirements for each specific grant and know when to reapply. Students should look through at educational grants available from the government, their institution, and private organizations, to avoid the stress of college loan debt after graduation.