Federal college grants is a type of aid that is awarded by the federal government. The best thing about this aid is that the student does not have to pay them back. To qualify for this kind of aid one must complete the FAFSA (Free Application For Federal Student Aid). This is considered to be the initial step.
Grants are somewhat similar to scholarships in that they are free financial aid that won’t require the student to repay. There are two general types of government college grants:
- Need-based grants
- Merit-based grants
The federal government is one of the largest providers of College Grants. For one to qualify you must file a Free Application for Federal Student Aid (FAFSA) every year.
Roughly around two-thirds of full-time college students receive some kind of financial aid or grant. Eligible students receive Pell Grants, it is money the government provides for students who need it to pay for college. Grants do not have to be repaid.
Federal college grants is designed to provide financially disadvantaged undergraduate students with financial assistance.
The most common federal college grant is the Federal Pell grant. With this grant the amount the student is receiving each year may change depending on the guidelines for federal budget restrictions, your family’s expected cost contribution, and your student status.