Financial Aid Grants Are Free Money

Winning financial aid grants can help college students lower their debt level

Here are some tips on where to begin your search for college grants.

Financial Aid Grants are a type of need-based aid awarded to students demonstrating need. Government grants are available from both Federal and State programs. The largest source of need-based grants are Pell Grants and are available to students who demonstrate financial need.

Most students finance their education through either financial aid grants or loans. The key difference is that loans have to be paid back, whereas grants are a free gift and do not have to be paid back. Once a student starts looking around, it becomes painfully clear that there is just not enough need-based funds to go around. To the dismay of the average family, most financial aid packages are made up of low-interest loans with deferred payments. While this helps to make a college education available, these loans eventually have to be repaid.

Winning financial aid grants can not only help students lower their debt burden, it can also put them in charge of choosing a college that's right for them, rather than opting for the local community college because it is the least expensive option.

Grants generally come in two options, need-based and merit-based.

More About Grants

Need Based Grants
These financial aid grants are awarded solely on financial need. Formulas that determine financial resources and balance them against living expenses and college costs determine the final amount of the offered grant.
Merit Based Grants
This type of grant is awarded on the basis of student achievement. The criteria used to evaluate achievement ranges from not only scholastic achievement, but also to student talents and interests and community involvement.
With that distinction in mind, let's look at some basic resources as a starting point in your search for grants.

Catalog of Federal Domestic Assistance
The"Catalog of Federal Domestic Assistance" (CFDA) is the federal government's guide to all funding programs and is a logical place to start a search for federal grants. To see what government grants are available for the current fiscal year, check out the currently available federal grants.
The Foundation Directory
The Foundation Directoryis an annual reference source for information about private and community grant-making foundations. It provides basic descriptions for the nation's largest foundations. The "Foundation Grants Index" is an annual source for determing the current funding priorities of these foundations. For more information about this grant directory, check out The Foundation Center's website for sources of grants You can obtain a free catalog here or you can call 1-800-478-4661 to obtain this catalog.
Library Resources
Check with your local and university libraries to see what grant research material they may have on hand. This is a good way to start your search without having to buy expensive materials.
Community Services
Check with your high school and county or state agency to see if they have a grants listing service or grants assistance office. Ask if your school districe or state office has a reference center you can access to use their reference materials.
Books
Even in today's world of advanced technology and the Internet, never underestimate the power of the written word. A walk through your local Borders bookstore or Amazon.com will bring you into contact with an unlimited array of books relating to obtaining college financial aid. For practical up-to-date information, it is hard to beat Barron's Complete College Financing Guide. Be sure to get the most up-to-date copy that contains the most current information.

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	Winning financial aid grants can help college students lower their debt level Here are some tips on where to begin your search for college grants. Financial Aid Grants are a type of need-based aid awarded to students demonstrating need. Government grants are available from both Federal and State programs. The largest source of need-based grants are Pell Grants and are available to students who demonstrate financial need. Most students finance their education through either financial aid grants or loans. The key difference is that loans have to be paid back, whereas grants are a free gift and do not have to be paid back. Once a student starts looking around, it becomes painfully clear that there is just not enough need-based funds to go around. To the dismay of the average family, most financial aid packages are made up of low-interest loans with deferred payments. While this helps to make a college education available, these loans eventually have to be repaid. Winning financial aid grants can not only help students lower their debt burden, it can also put them in charge of choosing a college that's right for them, rather than opting for the local community college because it is the least expensive option. Grants generally come in two options, need-based and merit-based. More About Grants Need Based Grants These financial aid grants are awarded solely on financial need. Formulas that determine financial resources and balance them against living expenses and college costs determine the final amount of the offered grant. Merit Based Grants This type of grant is awarded on the basis of student achievement. The criteria used to evaluate achievement ranges from not only scholastic achievement, but also to student talents and interests and community involvement. With that distinction in mind, let's look at some basic resources as a starting point in your search for grants. Catalog of Federal Domestic Assistance The"Catalog of Federal Domestic Assistance" (CFDA) is the federal government's guide to all funding programs and is a logical place to start a search for federal grants. To see what government grants are available for the current fiscal year, check out the currently available federal grants. The Foundation Directory The Foundation Directoryis an annual reference source for information about private and community grant-making foundations. It provides basic descriptions for the nation's largest foundations. The "Foundation Grants Index" is an annual source for determing the current funding priorities of these foundations. For more information about this grant directory, check out The Foundation Center's website for sources of grants You can obtain a free catalog here or you can call 1-800-478-4661 to obtain this catalog. Library Resources Check with your local and university libraries to see what grant research material they may have on hand. This is a good way to start your search without having to buy expensive materials. Community Services Check with your high school and county or state agency to see if they have a grants listing service or grants assistance office. Ask if your school districe or state office has a reference center you can access to use their reference materials. Books Even in today's world of advanced technology and the Internet, never underestimate the power of the written word. A walk through your local Borders bookstore or Amazon.com will bring you into contact with an unlimited array of books relating to obtaining college financial aid. For practical up-to-date information, it is hard to beat Barron's Complete College Financing Guide. Be sure to get the most up-to-date copy that contains the most current information. Return to Home Page from Financial Aid Grants ADD TO YOUR SOCIAL BOOKMARKS: Blink Del.icio.us Digg Furl Google Simpy Spurl Technorati Y! MyWeb	Subscription Services There are national subscription services that send timely updates to subscribers about grant information. The authors read through the "Federal Register" and keep in touch with private resources. They provide you with leads to grants and the agencies that are offering them. These services range from from $50-$300 a year. Often times, you can find this information on your own. However, if research is not your forte, and your time is worth more to you than your money, you may find the time saved is well worth the expense. One of the largest directories, Grants For All , is updated weekly. It is reasonably priced and also provides online customer service and a large reading room that contains great resources. There is also a money back guarantee should you not receive a grant or if you are unsatisifed with their service. Because of all the services available here, this is a resource worth looking into.
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Winning financial aid grants can help college students lower their debt level

Here are some tips on where to begin your search for college grants.

More About Grants

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