The Free Application for Federal Student Aid (FAFSA) should be submitted right on time if you want to utilize the several financial aid schemes arranged by the federal government. If you’re like the majority of the students in the country, then this aid will go a long way in filling up the gap between your personal funds and your college expenses. The most popular schemes among the federal financial aid programs are their free grants. Free grants don’t have to be paid back like student loans, and also, you don’t have to formally work such as in the federal work-study schemes; as the name implies, they’re free.
About Free Grants:
One important thing to remember about free grants is that they’re not just given to any student. You’ve to display serious financial need in your FAFSA to be approved for the free grants. Serious financial need means that without this aid, you’ve no means of completing your education. Also, free grants are not just the domain of the federal government; they’re also offered by state governments and some educational institutions. Typically, the application process for these gift aids is just the accurate completion and submission of FAFSA; however, it is better to peruse carefully the financial aid website of your educational institution to learn about any other application requirements. The two most popular forms of free grants offered by the federal government are as follows:
Federal Pell Grant:
The money from this form of free grants can be used to cover not only your college tuition but also other expenses like housing, books, etc. The amount of money actually granted depends on your financial situation and other factors like your enrollment status at the college. Make sure that your college is participating in this federal program; they’ll receive money from the government and disburse it to you. The maximum amount that you can receive as a Pell Grant is $5,550.
Federal Supplemental Educational Opportunity Grant (FSEOG):
The awarding of FSEOG also depends on your financial circumstances. You can receive the maximum amount of$ 4,000 through this grant. However, if you leave your education, you’ve to repay this grant as the government wants you to complete your degree program.