A grant in the sense of college funding is possibly the most desirable form of financial aid. You’re not expected to pay a grant back, so there is no debt to worry about moving forward.
Grants are given out for many different reasons. There are also many different parties-called grant makers-that actually distribute grants.
In the United States, the most commonly known grants are for education. Included are Pell Grants which students in the U.S. seek out when they apply for financial aid.
Why students show such a big interest in this grant is because it’s fairly easy to get and a lot of students in the U.S. who do apply for financial aid have some of it in the form of a this particular grant.
There are a lot of different groups that give out different grants. When taking a closer look, they are somewhat like scholarships in a lot of ways.
The organization will have a mission to either help students from certain income brackets, to help students who show a great deal of potential to succeed or to foster interest in a particular area of study.
To accomplish these goals, the grant maker will disburse funding to a certain number of students each year. In some cases, you may find that your college job is attached to a grant.
For example, if you’re a masters student and you’re working with one of the professors at your university on a research project, there’s a good chance that the research project is funded by a grant.
Of course in most cases you won’t be responsible for this grant but a lot of the times, this type of funding comes into play throughout your college experience in ways you might not have been aware of.
Some of these grants are used to fund very important research projects that take place at these universities.
The application process may vary when considering the type of grant you want. Government grants are handled through your Free Application for Federal Student Aid (FAFSA) form.
Other grants will have instructions for applying that will be provided by the organization that hands out the money. If you’re attending school, you should take the time to look for grants that apply to your field of study.
If you’ve been a particularly good student in high school, you’ll be an advantage with most grant maker organizations, so be sure you look into what may be available for you. Because you never have to pay them back, grants are a great way to fund your education!
About the author: Jan Miller writes about grants and What Are Grants. Jan also discusses points about scholarships at What Is A Scholarship.