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Grant Money for College
by Jon Faranda
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Overview
Grants and scholarships from government or private sources can be a great way to pay for college, especially if your financial situation is holding you back from obtaining a degree. To qualify for grants and scholarships, you will need to know what's available and how to apply.
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FAFSA
In order to be eligible for most federal and state grants, you will need to fill out the Free Application for Federal Student Aid. To complete this application and start on your way to paying for college, you will probably need to have your parents' tax information for the previous year (unless you meet certain qualifications), your own tax information and information on any assets you or your parents might have, like savings accounts, investments or college funds. You can submit the FAFSA online or through the mail, but submitting online will get your application processed faster and increase your chances of obtaining the money you need.
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Federal Grants
There are many federal grants available for students. The most popular of these is the Federal Pell Grant. Eligibility for this grant is determined mainly by the Expected Family Contribution number calculated when you fill out the FAFSA, meaning that you must have a significant need for grant money in order to receive a Pell Grant award. In addition to the Pell Grant, you may also qualify for other need-based grants like the Federal Supplemental Educational Opportunity Grant or the Academic Competitiveness Grant, which grants money on the basis of academic performance.
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State Grants
Many states also offer grant funding for education directly through the state's department of education or through specific public universities. You may already qualify for these simply by filling out the FAFSA, but some others may require a special application, so you should visit your school's financial aid office or website to find out about applications, deadlines and qualifications.
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Student Specific
Many private organizations and government institutions provide grants and scholarships on the basis of the student's background. These can include grants for people belonging to minority groups, women, people with disabilities or people from low-income backgrounds. There are millions of these types of grants given out each year, and the criteria for these grants vary widely, so try an online search of a scholarship database like FastWeb to see if you qualify.
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Subject Specific
In addition to grants for people with specific backgrounds, there are also grants for people with specific scholastic interests or career interests. Federal, state and private grants and scholarships for people with an interest in going into the fields of health care or teaching in public schools are especially abundant because these fields are in such high demand.
