Financial Help for College Students: Grants and Scholarships
Discover how grants and scholarships provide free financial support for college students, detailing application procedures, eligibility, and repayment responsibilities to ensure continued access to educational funding.
Financial Assistance for College and School Students
Financial aid in the form of gifts, such as grants and scholarships, offers students free funding that doesn't need repayment. Grants are typically awarded based on financial need, while scholarships are granted for academic or extracurricular achievements. These funds are provided by federal, state, and private organizations. The U.S. Department of Education provides various federal grants for students attending colleges, universities, and career schools. To qualify for these funds, students must complete the Free Application for Federal Student Aid (FAFSA) annually during their studies.
After applying, students should communicate with their chosen institution to understand their award amount and disbursement schedule. Numerous scholarships are available from different organizations, recognizing students for academic excellence, sports, religious affiliations, or family employment connections. The institution will notify students if any repayment is required for the aid received.
If repayment is necessary, students have 45 days to settle or arrange a repayment plan. Failure to comply may result in loss of federal aid eligibility. Students should carefully review the specific requirements of each scholarship or grant to maintain their eligibility, visiting the respective official websites for guidance.
