College tuition is at its highest level as it has ever been. With the recent economic downturn and massive job layoffs, many families simply don’t have the money for college and can no longer afford to send their children to colleges and universities. Many are looking for cheaper alternative such as community colleges. However, what most people don’t realize is that there are many grants and scholarships for college even in this economic climate.
Typical scholarship providers include federal and state agencies and private organizations. If your child is a high school senior, the easiest thing to do is to talk to the financial aid counselors at the school for available financial aid programs. If you are applying for graduate schools or have been out of school and are thinking about going back for higher education, you can always talk to the financial aid officers at the school you are applying.
Here are some of the best known scholarships and grants offered by the federal government.
Pell Grant
Pell Grant is a federal program for low-income undergraduate and some post-baccalaureate students to have access to college and university education. Currently there are approximately 5,400 participating insititutions in the Pell Grant program. The amount of the grant is determined by the student’s expected family contribution, the cost of tuition, and the student’s enrollment status (part-time or full-time).
The Pell Grant is a need-based program. This means it is awarded only to those students that have financial need. The factors in determining financial need are the student’s income, the parents’ income, the family’s household size, and the number of family members attending college.
You can find the complete information about the Pell Grant Program at US Department of Education web site here.
Academic Competitiveness Grants (ACG) and National Science and Mathematics Access to Retain Talent (SMART) Grants
The ACG and SMART grants are reletative new and have just become effective since July 1, 2006. The ACG are for first and second-year undergraduate students who have completed a rigorous high school program. The SMART Grants are for undergraduates in their third- and forth-year and major in certain technical fields such as mathematics, science, technology, and engineering; or foreign languages that are deemed vital to national security. Also keep in mind the students must maintain a required minimum grade point average (GPA).
To be eligible for these grants you must be a US citizen, attending school full-time, and also elgible to receive a Federal Pell Grant.
To apply or find out more information about ACG and SMART Grant programs, visit the Federal Student Aid web site at U.S. Department of Education.
Teacher Education Assistance for College and Higher Education (TEACH) Grants
This is also a new program that begins on July 1, 2008. To apply you must be undergraduate or graduate students who meet certain academic requirements, and agree to teach in qualifying schools and subject areas. You are required to teach for 4 out of 8 years after graduation otherwise the grant amount must be repaid with interest.
The subject areas include mathematics, science, foreign language, bilingual education, special education, reading, and other high-need fields.
Under the TEACH Grant Program, eligible students receive up to $4,000 a year to help pay for college and their study. This is a great program for those who are interested in teaching in those specific areas.
Resources
You can find more federal education grant programs at Federal Student Aid web site.
