One-Week Research Project
Question: How can you get free money for college?
There are two forms of “gift aid” that colleges offer to their students: grants and scholarships. These types of financial aid don’t have to be repaid, unlike student loans. The difference between these two forms of gift aid is that grants tend to be need-based while scholarships are often merit-based.[1] Institutions that offer grants scholarships include the federal government, state governments, colleges, and private or nonprofit organizations.[1] The most common grant awarded in the US is the Pell Grant which aids financially challenged students according to their the severity of their situation.[2] California residents are eligible for the Cal Grant, which students are automatically signed up for if they have applied for the Free Application for Federal Student Aid (FAFSA).[3] There are also grants for special categories such as students who hold a certain church membership or who have a parent that has served in the military.[2]
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$There are two forms of “gift aid” that colleges offer to their students: grants and scholarships. These types of financial aid don’t have to be repaid, unlike student loans. The difference between these two forms of gift aid is that grants tend to be need-based while scholarships are often merit-based.[1] Institutions that offer grants scholarships include the federal government, state governments, colleges, and private or nonprofit organizations.[1] The most common grant awarded in the US is the Pell Grant which aids financially challenged students according to their the severity of their situation.[2] California residents are eligible for the Cal Grant, which students are automatically signed up for if they have applied for the Free Application for Federal Student Aid (FAFSA).[3] There are also grants for special categories such as students who hold a certain church membership or who have a parent that has served in the military.[2]
Scholarships are usually awarded based on academic, athletic or artistic talent. There are thousands of scholarships offered by a variety of organizations which students can apply to online.[1] Moreover, 4-year universities usually have an honors program which helps top students find scholarships more easily. Most grants for financially challenged students have a merit-based component as well; for example, the total amount of money that a student receives for the Cal Grant depends on the student’s financial situation in addition to their education background.[3] As a result, even if the financial situation of two students are the same, the student that has higher grades and test scores will most likely receive more financial aid. While grants and scholarships are more time-consuming to apply for and more difficult to receive, it is important that students apply to as much gift aid as possible before they consider taking out student loans.
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References:
1. https://studentaid.ed.gov/sa/types/grants-scholarships#scholarship-types-applying
2. https://www.collegegrant.net/
3. https://www.csac.ca.gov/post/cal-grant-faq-0
1. https://studentaid.ed.gov/sa/types/grants-scholarships#scholarship-types-applying
2. https://www.collegegrant.net/
3. https://www.csac.ca.gov/post/cal-grant-faq-0
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This was very helpful. I like how your curious about saving money for college and the steps in order to get there. This can also help me receive scholarship opportunities for college.
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ReplyDeleteYour information was very helpful.It was good to know that financial aid can from many places and what to expect when we meet the requirements.
ReplyDeleteI had no clue about any of this. Thank you for this information. You were able to inform me on this topic while also not putting me to sleep. Great work!
ReplyDeleteI did not know that if you applied to the FAFSA you were automatically eligible for the Cal Grant. One less thing I have to apply for!
ReplyDeleteFAFSA is trully an important document to fill out in applying to colleges and the earlier one applies the more one can get access too. Dont be afraid to start, early is better.
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