College Grant Money – About Grants, Scholarship and Loans

Once you decide that you would like to go to college, the next step is to plan how to finance it. Many adults are not able to finance college by themselves and thus look for college grant money in the form of grants, scholarships and loans. Find out more about these 3 options below.

Scholarships

There seems to be a misconception that scholarships are only for persons that are straight out of high school. The good news is that there are many scholarships for adults available. Not all scholarships are based on academic results either, some focus on minority groups and another example is those that focus on specific subjects or interests, for instance there are super scholarships for women studying engineering. Scholarships are usually offered by colleges and universities, private companies and organizations.

Grants

Grants refer to the federal grant aid that is available. There are various grants available and you need to check to see which ones you would be eligible for. The FAFSA web site is the best place to go to complete your application online and also to get more information. The best known federal grant is called the Federal Pell Grant and this could give you up to $5350 per academic year. Then the runner up would be the FSEOG, meant for financially needy people, and here you could get anything from $100 to $4000.

Loans

If you have applied for all the grants and scholarships you can and find you are still short of money, then you need to consider a loan. Remember that grants and scholarships are non repayable so always make that your first choice for financing. But do not worry if you are short of funds, as there are excellent loans available. Have a look at Perkins loans and Stafford Loans. Some loans are interest free and others accumulate a very low interest.

Always apply for free money first as this is your best option. To get the ball rolling, why not apply for a $10000 scholarship right now? It is quick and easy and will take no time at all, do it now.

Source by Barbara Hanly