The average graduate in the United States now owes $36,385 on their student debt. Student debt follows individuals into adulthood, making it more difficult to pay off after living costs as well as saving money. This is why potential students should inquire about scholarship opportunities. These amounts of money are doled out to students who do not have to repay it and can often be the deciding factor between attending college or not.
There are a few different types of grant programs that students can look into.
Pell Grant – The first is the Pell Grant, which is for undergraduate students who have not yet earned their degree. It is worth up to $5,815 per year.
Afghanistan Service Grant – Another type of grant is the Iraq and Afghanistan Service Grant, which is for students whose parent or guardian died as a result of their service in these countries. These students can receive up to $5,551 per year.
Resiliency Grant – Western Governors University may pay up to $4,000 towards your education as a new student.3 This grant was made available in 2021 for people who are having financial difficulties that make it difficult to continue their studies. It will be provided to students based on their academic record, financial need, WGU online study readiness, and other factors.
Academic Competitiveness and National SMART Grants
In 2006, the Academic Competitiveness and National Science and Mathematics Access to Retain Talent (SMART) grants became accessible to assist students in pursuing degrees in science, mathematics, global economics, technology, engineering, and vital foreign languages.
In their first and second years, students may apply for the Academic Competitiveness scholarships. SMART grants are available to third- and fourth-year students. To qualify, applicants must also fulfill Pell Grant criteria. They must have a minimum GPA of 3.0 and be enrolled in a rigorous secondary school curriculum program of study.
The Department of Education is providing $15,000 per year to help you pay for your education. The department has over 20 scholarships that you may apply for and could potentially earn money toward your tuition with.
Need-Based Grants Available
The Federal Supplemental Educational Opportunity Grant is for undergraduates with exceptional financial need and provides up to $4,000 per year.
The Teacher Education Assistance for College and Higher Education Grant is specifically for students who are preparing to become teachers.
National Science and Mathematics Access to Retain Talent Grant is for students in science, technology, engineering, and mathematics disciplines, and offers up to $4,000 per year.
All of these grant programs are available to students who are looking for a way to finance their education without taking on more student debt. By researching these opportunities, students can find the money they need to attend the college or university of their choice.
- Project on Student Debt. “Average Student Loan Debt.” Accessed March 15, 2016.
- Federal Student Aid. “Pell Grant.” Accessed March 15, 2016.
- Federal Student Aid. “Iraq and Afghanistan Service Grant.” Accessed March 15, 2016.
- Federal Student Aid. “Federal Supplemental Educational Opportunity Grant (FSEOG).” Accessed March 15, 2016.
- Federal Student Aid. “Teacher Education Assistance for College and Higher Education (TEACH) Grant.” Accessed March 15, 2016.
- Federal Student Aid. “National Science and Mathematics Access to Retain Talent (SMART) Grant.” Accessed March 15, 2016.
Conclusion
Grants can be a great way to finance your education without taking on more student debt. By researching these opportunities, students can find the money they need to attend the college or university of their choice. There are many different grants available, so it is important to explore all of your options and see which ones you qualify for. The sooner you start looking, the better your chances of getting the money you need to pay for school.