Going to college is a way for many students to help themselves realize their dream of becoming successful in life. College for some students means a way to an ultimate life of peace and luxury. But most of the time students cannot realize this dream of their due to financial constraints. In such a situation, students must try for financial aid for colleges.
There are several financial aid for colleges available namely the TEACH grant program, the Federal Pell Grant, the Federal Supplemental Educational Opportunity Grant (FSEOG), the Academic Competitiveness Grant (ACG), the National Smart grant, Institutional Grant and the Iraq-Afghanistan Service grant. All of them have their own terms and conditions, which I’ll discuss in the proceeding paragraphs.
Firstly let me tell you about the TEACH Grant program. In this program the student is given a financial aid for colleges of $4000 per year with a condition that the student must serve as a teacher at the completion of his course for four academic years. Students should remember that if they cannot fulfill this requirement then their aid will turn into a loan which they’d have to repay to the government.
In order to receive this TEACH grant as a financial aid for colleges the applicant must be a citizen of U.S. and must agree to fulfill the requirement mentioned above. The student must take admission to a program that provides teaching as a career option and lastly, should maintain a GPA score of minimum 3.25 in the academics.
In order to get more information about the Teach Grant for financial aid for colleges students must either go to their nearest office or log onto the website and search for TEACH grant Agreement to Serve. This agreement would give details of all the minute things that you should consider before applying or receiving this financial aid.
The next important financial aid for colleges is the Federal Pell Grant. This special grant is very different from a loan as it doesn’t need to be repaid. It is usually given away to under graduate students who have not yet earned their professional degrees. An amount of $5,500 is given to students who qualify as students in dire need of financial aid.
This amount given away in Pell Grant as financial aid for colleges will cover your tuition fees and cost of textbooks for full time and part time students alike. It is specially designed to help those students who lost their parents in war in Iraq or Afghanistan. The grant amount will be credited directly either directly to your account or may be given to you via check.
The other useful grant for financial aid in colleges is the FSEOG grant. FSEOG stands for Federal Supplemental Educational Opportunity Grant. It is designed specially to help students belonging to low income groups. They are similar to the Pell grant in the way that they do not convert into loans and therefore do not need repayment.
In the FSEOG grant, a student is entitled to an amount of $100 to $4000 depending upon the time when you apply for this financial aid for colleges. Other factors which also determine the amount you receive are your family financials, aid provided by the college you enroll yourself into and policies of the college you are admitted to.
Next the students can go for ACG, which stands for Academic Competitiveness Grant for financial aid for colleges. It is designed to give away the grant in a two fold manner i.e. a student would receive $750 in the first year of his course and $1300 in the second year of his course.
To successfully be able to receive the ACG as financial aid for colleges the applicant must be a citizen of U.S. If you are eligible for receiving the Pell Grant, then you are also eligible to receive the ACG as well. The student would need to maintain a GPA of minimum 3.5 or 4 to get this grant.
National Smart Grant or the National Science and Mathematics Access to Retain Talent Grant is another form of financial aid for colleges. It is essential for students with financial constraints studying foreign languages, engineering, technology and sciences. The students would need to maintain a GPA of 3 or 3.5 in order to successfully retain this grant.
Students would get an amount of $4000 as a financial aid for colleges. To be eligible for this fund the applicant should be a citizen of U.S. the student must be pursuing some course in foreign language, engineering, technology or sciences. If the student is receiving the Pell Grant for the same year then it is an added advantage to the student.
Apart from the above mentioned grants, the students can always try for the Institutional Grants for financial aid for colleges. These institutional grants aim at helping the students and their family members to bridge the gap in the contribution towards the education of their child which may occur due to the actual money needed for study and the money acquired from cumulative contribution of loans, family savings and students’ savings.
Institutional grants are usually given to families who need money due to their financial difficulties. They are also given on the basis of merit or as award for academic excellence. Therefore they are also sometimes known as scholarships. At times, they may be awarded to students who belong to minorities or some small communities.
There is a special financial aid for colleges available to students who have had their family members in the armed forces or in the military. The Iraq-Afghanistan service Grant is one such aid. The student needs to be at least 24 years old to be able to receive this grant. The applicant must have enrolled into a part time or full time educational course to avail this fund. The amount given is same as Pell grant.
The students can gain knowledge about all the above mentioned financial aid for colleges by searching the net or visiting their nearest education office or by filling the FAFSA form which is available at your local library or university. These financial aid programs are available for students who want to try out every possible avenues to make their dreams of attending college a reality.