Of all the forms of financial aid available to prospective college students, grants are easily one of the most sought after. One of the most desired grants is the Federal Pell Grant, which is a grant provided by the federal government and given out to those whom government officials deem most in need of aid. People that obtain this grant typically struggle financially, and must usually present evidence of a strong need for financial aid before being able to attend a college or university.
While this is one of the most sought after forms of grants, it is certainly not the only one. There are many different kinds of grants available for everyone in need of additional financial assistance in local, state and federal levels of government. Schools themselves offer grants and, similar to scholarships, most do not have to be repaid, making them extremely desirable in helping students pay for their educations. Many grants, especially ones provided by the schools themselves, are not focused solely on low income students. Rather, there are grants directed toward middle income students or those with specific needs (single mothers, for example). It should be noted that most organizations that provide grants to students keep an eye on the educational progress being made by the students. It is important that you don't slack off in your classes or you may lose your grant due to unsatisfactory academic performance. Since most financial aid is directed toward students looking to obtain a Bachelor's Degree, there are many grants available for undergraduate students. However, that is not to say that there are not options out there for graduate students, who should search for grants pertaining to their field of study. Many students seek out grants as a form of financial aid much desired over student loans, which have to be paid back with accumulating interest. However, since most people find that taking out loans is an unavoidable step in the financial aid process, grants are still extremely helpful on top of the loans, as they provide additional monetary assistance that does not need to be returned. This makes the burden of financial aid loans seem much less troublesome.
Once you complete the FAFSA form and find out how much federal aid you are eligible to acquire or even calculate your EFC online before filling out the FAFSA, you can start figuring out how much aid you will need for the school of your choice. At this point in the process, once you are aware of your financial aid status, applying for grants on top of financial aid loans will give you the chance for this additional form of free financial aid assistance.