Free Money For School Does Exist?

Answer 1

The federal government offers a variety of grant programs for students in university and college in need of financial help. Since they are not loans, grants do no need to be repaid. However, each one has its set of specific conditions and requirements.

1. Pell Grant

This is given only to undergraduates. The amount the maximum Pell award is $5,500 per award. Students may receive two awards per year, but not more than 18 semesters consecutively.

The amount of the grant will be determined by looking at the financial situation of the student, whether or not he or she is full or part time, the tuition and costs of attendance and the financial aid policies of the school.

2. FSEOG (Federal Supplementary Educational Opportunity Grants)

These are for students with exceptional financial need. The amount available ranges from $100 to $4000 per year. Just as with the Pell grant, the actual amount the student receives will depend on his or her financial situation, time status, the school's tuition and its aid policy.

Funds will be credited to the student's account at least once per term or twice per year, depending on the school's academic calendar. If not, they will be paid directly to the student or a combination of both.

3. Academic Competitiveness Grant

This new grant appeared in 2006-2007 and is available to post 2005 high school graduates. The awards are for $750 for the first year of academic study and then $1300 for the second. The requirements for this grant are more strict than for the prior two.

*A US Citizen or Eligible Alien

*Enrolled at Least Half Time

*A Pell Grant Recipient

*A Graduate of a Rigorous Secondary School

4. Iraq and Afghanistan Service Grant

This is for students who have lost a parent in Iraq or Afghanistan after September, 11, 2001. The amount is the same as the Pell Grant. Those who apply for this program must have applied and failed to qualify for the Pell. In addition, they are required to be under 24 years of age and enrolled in an accredited school at least half-time at the time of the parent's death.