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Federal College Grants: Everything you need to know

Federal college grants are available in nine different kinds of subsidized programs sponsored by the government in the United States. Subsidized programs offered by the state total about 600 in number. Certain qualifications that are based on the financial need of the students have to be met with to qualify for the federal programs. In the same way as applications are made for the FAFSA or the Free Application for Federal Student Aid, applications for the federal loans can be made. In fact, the FAFSA form has to be completed every year the assistance is required by the college student.

Federal college grants – Need Based Grants

In the category based on need there are a number of college federal grants available which students need to understand if the best use of them has to be made. Which of the federal and state grants for college is need based? The first one is the FSEOG or the Federal Supplemental Educational Opportunity Grant which is very similar to the Pell Grant. The only major distinction is that the college retains the authority in determining the money that has to be granted to the student seeking the grant. 

Eligibility of the grant is determined by an important threshold, namely the household income. The other type of Federal College Grants is the Pell Grant which is offered to students who live in households that have a $50000 or less income. It may seem that this amount is quite low. In the program of the Pell Grant, dollars in their millions are spent by the government of the United States every year.

The Pell Grant is forwarded by the government straightaway to the college. If in case after paying for the board, tuition and room expenses there are still some deficit funds left, then the student receives the rest of the money as well in the form of another federal government college grants the student is eligible for.

Federal college grants – Application Process

In order to apply for federal grants for college, the students need to submit the FAFSA or the Free Application for Federal Student Aid form to the website of the US Department of Education. Another method is to have the forms printed out first and then they can be mailed. The student receives the SAR or the Student Aid Report once submission of forms and their reviewing takes place. This enables students in figuring out, the grant they would be eligible for and exactly what the EFC or the Expected Family Contribution is.

Depending upon the data that has been included in the SAR, a notice related to awards is prepared by each of the colleges in which you have expressed your interest. A financial package offering the grant or aid is then prepared for the particular student.

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