Friday, January 30, 2009

Types of Grant Money For College

State grants

Depending on the state that you are in, the value of the grants that you receive varies. Other factors that influence the amount of state grant that you receive is your particular need and the type of study that you are taking. There are also other deals that are being offered by different states. In the state of Ohio for instance, your eligibility for a state grant is dependent on your income. If you only have one child and you are making in excess of $35,000 then you may lose your eligibility to apply for a grant.

Institutional grants

Unlike state grants, institutional grants are grants that your college gives their students in order to help them continue their studies. However, this type of grant cannot be applied for because these grants are only given by the school on a particular student that they want to study in their institution.

Federal Pell Grants

The Federal Pell Grants are the biggest grant programs of all the grants that are available. Moreover, the range of this type of grants can be a hundred to few thousand depending on your need since the grant is based on what college that you want to attend in.

Another thing that you need to know about Federal Pell grants is that the colleges that receive the Pell grant money only have a fixed amount per year. This means that when the money runs out, it's gone till next year. So if you want to apply for a Federal Pell grant, you need to apply early so you can ensure that you can have the money that you need. Also, even if you are already receiving you Pell grants, a math or science major can also apply for the Academic Competitiveness grant or the National SMART Grant.

Federal Supplemental Education Opportunity Grants

Federal Supplemental Education Opportunity grants are grants that only the poorest students can apply for. You can go to your college's financial aid office and inquire of the different requirements that you may need to apply for this grant money for college.

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