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Grants are definitely something you should consider applying to when you are looking for ways to get free money for your college education. Grants work much the same way as scholarships in that you do not have to repay any money you receive. You can use grants to fund your college education. Keep in mind, grants are need-based. On the other hand, scholarships have much more diverse eligibility requirements. Colleges, federal and state governments, professional associations, and various public and private organizations all award grants.
Federal Grants
Funded by the federal government, federal grants are your first stop when you are looking for financial aid. The Federal Pell Grant is the largest grant program in the US. Other comparable grants are the FSEOG or the Federal Supplemental Educational Opportunity Grant, which aims to support undergrad students with extreme financial aid and the Federal TEACH Grant. The TEACH Grant provides financial assistance only to those students who are willing to sign a contract agreeing to taking up a teaching position in an underserved area for a predetermined period of time.
State Grants
State Grants are only awarded to students of that particular state. These programs vary widely from one state to another. State grants primarily aim to address the financial needs of low-income students in the state. In addition, some states also offer grants to support women and minority students in their college careers.
Students who are pursuing degrees in high-demand fields such as nursing and teaching may also get state grants.
Non-Government Grants
If you have exhausted the available Federal and state grants, you can then explore non-government grants. Colleges and universities as well as professional associations and corporations award these to deserving students. Several religious organizations offer grants to students who follow the same religion. Local organizations also offer grants to members of their community.
These private sector grants typically have very specific eligibility criteria but you can expect generous financial assistance if you meet their criteria.
College Grants
Colleges typically offer two types of grants—general grants and specific grants. Colleges offer grants to all students regardless of their background or choice of program.
Schools also categorize specific grants as student specific subject specific, minority specific or degree level specific. Low-income, non-traditional, and culturally disadvantaged students qualify to apply for student-specific grants.
Students enrolled in programs that lead to high-need careers such as healthcare, education, mathematics and science may pursue subject-specific grants.
Colleges offer minority-specific grants to minority groups who have historically been underserved in the American higher education system. This includes Latinx and Hispanics, Asian Americans, African Americans, and Native Americans.
When you are looking for financial assistance for your college education, don’t stop at scholarships. Grants are a great source for getting much-needed free financial aid towards your higher education goals. Take advantage of them and use grants to fund your education!
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| Lender | Rates (APR) | Eligibility | |
|---|---|---|---|
 |
5.50%-16.12%* Variable
3.99%-15.61%* Fixed
|
Undergraduate and Graduate
|
VISIT CITIZENS |
 |
5.54% - 15.70% Variable
3.99% - 15.49% Fixed
|
Undergraduate and Graduate
|
VISIT SALLIE MAE |
 |
4.63% - 17.99% Variable
3.49% - 17.99% Fixed
|
Undergraduate and Graduate
|
VISIT CREDIBLE |
 |
6.00% - 13.75% Variable
3.99% - 13.75% Fixed
|
Undergraduate and Graduate
|
VISIT LENDKEY |
 |
5.66% - 14.72% Variable
3.69% - 14.56% Fixed
|
Undergraduate and Graduate
|
VISIT ASCENT |
 |
3.70% - 8.75% Fixed
|
Undergraduate and Graduate
|
VISIT ISL |
 |
5.62% - 16.85% Variable
3.69% - 16.49% Fixed
|
Undergraduate and Graduate
|
VISIT EARNEST |
 |
5.00% - 14.22% Variable
3.69% - 14.22% Fixed
|
Undergraduate and Graduate
|
VISIT ELFI |
