In the financial year 2011-12 around $112 billion dollars were awarded as the grants for the college and most of it, which is 44% of the total money, came from the U.S Federal government. College grants are indeed one of the most vital resources that help the students to pursue their career dreams. In the present day scenario when there is a massive rush of unemployment and larger number of people facing the financial crisis, these grants are becoming increasingly popular to shed off the burden from the shoulder of the students as well as their parents and guardians. More and more students are applying for these grants as opposed to the financial loan. The best part of these grants is that they are free money and need not be paid back like student loans. These grants for college education are a debt-free aid or a gift aid which serve the purpose of effectively helping the students in achieving higher education dreams or pursuits.
The most popular grants that are applied for by the students are the Pell Grant. This grant is awarded to the students who have financial need and are unable to pursue their career dreams for the lack of financial support from their families and other sources. The amount of Pell Grant for the academic year 2011-12 was $5,500. There are many grants for college students based on their academic performances. Not only the federal government gives grants for the college education but the states also provide grants for the students based on financial need or academic qualification or the combination of both for the students of their respective states. The students who want to get the grants for education in colleges can search the popular government grant website Grants.gov to get the list of grant opportunities. Apart from the popular Pell Grant, there is the Academic Competitiveness Grant (AC), and the National Science and Mathematics Access to Retain Talent Grant, popularly known as the SMART Grant. Both these grants require the eligibility under the Pell Grant. The local government and their State Department of Education is also a vital source for getting the funding for college education. These grants are usually available to the minorities, low-income, gifted students and even older, non-traditional students for pursuing higher education. Many private organizations also give grants for education in colleges.
To know about the grant opportunities search the internet or approach the local Chamber of Commerce members. Students wanting to avail the grant have to fill up the FAFSA form and the Financial Aid Profile. So apply for college grants today.
