University students may be eligible for federal, state, organizational, or institutional grants, according to the U.S. Department of Education. Federal grants include the Federal Pell Grant; Federal Supplemental Educational Opportunity Grants; the Teacher Education Assistance for College and Higher Education grants, and the Iraq and Afghanistan Service Grants.Continue Reading
Grants are usually needs-based gifts, explains the office of Federal Student Aid. As of 2015, federal grants are awarded to undergraduates and some postgraduate teachers. The first step in applying for a federal grant is to fill out the Free Application for Federal Student Aid at FAFSA.ed.gov, to determine the Expected Family Contribution, referred to as the EFC. Students should also consult with their learning institution's financial aid officer. The financial aid office can give the student an offer and disburse the grant award one or more times during the year.
It is important to watch for deadlines, as the federal application deadlines differ from state deadlines, notes the office of Federal Student Aid. Grants are based upon income and are reviewed annually for continued eligibility. The amount a student receives can change from year to year. Change in income, status from full to part-time attendance, and cost of attendance are factors that affect grant eligibility amounts.
Students under the age of 24 years or who were enrolled in college at the time of a parent or guardian's death may be eligible for additional Federal Pell Grant funds if the parent or guardian was a member of the U.S. Armed forces and died as a result of military service performed in Iraq or Afghanistan after the events of 9/11, states the office of Federal Student Aid. Graduate and doctoral students may also be entitled to grants from educational institutions or organizations.Learn more about Credit & Lending