College grants are primarily awards of free money, that do not require any repayment on the part of the recipient. They can be directed toward specific educational expenses, specific types of students, or general purpose. Unlike scholarships, which are typically awarded on the basis of academic achievement or athletic, artistic or extracurricular performance, grants are awarded according to financial need. This is not to say that academic merit will not be considered, only that financial need is given greater weight in the final decision making process.
Students that never attend, stop attending, or withdraw from all classes will be required to repay some or all of the Pell Grant and/or SEOG and subsidized or Unsubsidized loan funds originally awarded. A federal formula will be applied based on student's last date of attendance, percentage of the payment and period attended. If the formula indicates an amount “unearned” a repayment of aid will be necessary. There is no appeal available for Repayment of Federal Funds.
You could get more non-federal aid: “Schools and states have a limited amount of aid, and a bunch of states have a FAFSA deadline of ‘as soon as possible after October 1,’ (meaning they actually could run out of financial aid) so it’s good to be at the front of the line!” according to a post on the Department of Education blog. If you apply early, you’ll have a better chance to qualify for these non-federal financial aid programs.
The traditional model of a college-bound student is beginning to change. While the majority of college students are still newly minted high school graduates, more and more adult learners are headed to colleges and universities across the country. Some may be returning to school to finish degrees that were interrupted by work and family commitments, while others may be attending college for the first time for training courses to help them achieve greater success in the national workforce. Non-traditional students include single parents, displaced workers, returning military veterans and adults seeking new career opportunities.
Still, the potential payoff of applying for financial aid makes it worth it. It can make a world of difference if you put in the time and effort to understand the process and how to get the full financial aid you’re entitled. For some students, it’s the only reason they can complete a degree rather than dropping out of college. For others, financial aid helps them leave school with some student loans — but limits the debt to a manageable amount.
The National Science and Mathematics Access to Retain Talent (SMART) Grant picks up where the Academic Competitiveness Grant leaves off—providing funding for low-income third and fourth year college students. Eligible students must be Pell Grant recipients, academically talented and majoring in STEM fields or high need foreign languages. SMART Grant annual maximums are up to $4000 per qualified student.
The Susan G. Komen Foundation is one of the best known advocates for the treatment and prevention of breast cancer. The foundation sponsors both grants and scholarships for students who have lost a parent to breast cancer. Awards of up to $10,000 are available, and are decided on a combination of scholastic achievement, community service and financial need.
One of the most significant sources of grants for college is the United State’s Armed Forces. Education grants from the military help enlisted service-members, their spouses and their dependent children, find the resources they need to pay for college. Each branch of the military, including the army, navy, air force and marines, provides financial aid programs to benefit their service-members. Military sponsored grants are also offered to the children and spouses of service-members who have been killed, or disabled, in the line of duty.
State-funded grants for minorities promote educational diversity and increase access to college for traditionally under-represented groups. Grants for ethnic minorities—African American, Hispanic, Asian, and Native American students—target specific groups needing college cash. For example, Wisconsin’s Minority Undergraduate Retention Grant disburses funds to second, third and fourth-year minority students pursuing college degrees or vocational training.
If you’re a noncitizen without a Social Security card or had one issued through the federal Deferred Action for Childhood Arrivals program, you should fill out the California Dream Act Application found at caldreamact.org. You don’t need to fill out a FAFSA form to be eligible for California student financial aid. Contact the California Student Aid Commission (csac.ca.gov) or your financial aid administrator for more information. Additional forms might be required. Applicants are encouraged to keep a record of their submission by printing out their online FAFSA confirmation page or obtaining proof of mailing the FAFSA form.