Find Grant Opportunities

Grants are possibly the most overlooked form of financial aid. Some financial aid opportunities fall under the term "grants" rather than "scholarships" although they are similar - they are both a financial aid package that does not need to be repaid. On the whole, grants are less than scholarships - which can be for an entire tuition - and are often need based, whereas financial need does not factor into some scholarships.

Scholarships are most often awarded to students with exceptional qualities - academic, athletic, artistic, or something else. In addition, scholarships may be awarded based on age, gender, race, religion, and other such considerations. Many grants for financial aid are based on the same premise. There are minority grants for Hispanic students, African American students, or another ethnicity.

There are also grants available from both government and private sources. Many students make the mistake of stopping with the federal Pell Grant or FSEOG - awarded if you are deemed eligible from the FAFSA application. These are the two most popular federal grants. There are a number of private grants available. Many of the grants available for a specific gender, ethnicity, or other factor come from a private source - perhaps through a philanthropic organization.

Searching for Grants

Grant search engines are the best way to narrow down your search for grant opportunities. Because there are literally hundreds of grants available any given year, it can be difficult and time-consuming to sift through each and every grant offer - many of which will not be applicable. Instead, a grant search engine will ask for specific information - age, gender, ethnicity, area of study, etc. A selection of grants will come up, narrowing down your search considerably.

A grant search engine can also help keep track of all the grants to which you’ve applied. A student may apply for a dozen grants and it can be difficult to keep track of all this information. It is important to organize grant information to mark down when the status of a grant application has changed.

Keep in mind that securing grants can affect your eligibility for other grants. For example, need-based federal grants are calculated using a formula of Estimated Family Contribution vs. the Cost of Attendance. The more grants you receive, the higher the Estimated Family Contribution will rise. This could potential lead to eligibility problems for certain grants that require an extreme financial need. Even so, this can be offset by the amount of some grant opportunities, which can be quite high.

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