Best of College Prep Genius: College Grants

What are college grants? And is college worth it if you are saddled in debt? You may go to college for only four years and yet have to pay for twenty! College can be for anyone and in this episode, we look at grants as a way to help pay for college tuition. Hold on to your seat and listen as Jean Burke shares her knowledge with you!

College GRANTS

College grants consist of the money you don’t have to pay back. Gov. grant FAFSA – mistakes and how to sign up for it.

Some colleges offer endowments – such as the Moody Bible Institute through federal and institutional grants. The education part is paid through grants. Keep in mind a big name or high price tag school often offers more opportunity. Test scores help but income bracket also helps – Standford by definition says 144K is low income.

For example, law schools are ranked in the top six, top ten, top sixteen. You don’t want to rule out a college because of money. Or it appears to be out of your reach, you never know.

Are you a resident of a certain state? You may be surprised at what grants are offered some in the form of entitlements.

Federal Pell Grant – not eligible until you fill out the FAFSA

Federal supplemental (FFEOG)

Academic Competitiveness Grant ACG

National Smart Grant SMG

College Grants — TEACH Grant

Cost-Containment Programs

Tuition Equalization Grant –Private school in-state tuition. College for all Texans, for example. If you meet the college costs and how much your family can pay. 2.5 GPA — if tuition cost is more than the private school you can qualify for a tuition grant.

Reciprocity —

Some states will provide reciprocity for other states. In-state tuition to a governing state. MSEP – Midwest Student Exchange Program. Non, resident (listen to the podcast for more information) go to a neighbor or nearby state can reduce the cost of tuition.
Western undergrad exchange — Arizona, Alaska ca Idaho, Hawaii – reduces instate tuition.
Look at the New England reciprocity program.

One of the best websites is the Sallie Mae website.

FAFSA – stands for Free Application for Federal Student Aid. Maximize chances for getting the student aids. October 1 is the first day – and do it as early as possible or the money is gone! You must have this filled out first. LISTEN

Federal Pell Grant – FPG – not eligible until you fill out the FAFSA – the most financial money. The undergrad who has not earned a professional degree yet. Start with FAFSA – every year must be filled out. Depends on the school year, student, max. award around 6K – Cost of attendance, whether the child is working in the school or not.

Federal Pell Grant – Iraq or Afghanistan Service Grant – parent died under the military, eligible for additional money under the age of 24 and enrolled in college.

Federal supplemental (FFEOG) federal supplemental opportunity grant — low-income undergrad students who need a lot of help – 4K per year just depending on your personal situation. Most colleges participate in these grants. No additional funds are available once you get these funds. Check the college website or financial aid dept of your college for more information.

Academic Competitiveness Grant — ACG and the National Smart Grant SMG-Two programs that fall under improved math and science instruction. Take on more challenging courses in high school and helps your child become more successful in these areas. High demand in the global economy – technology or engineering. Available to students.

TEACH Grant – Teacher education assistance for college and higher education. Take specific classes to get the grants themselves and do a certain type of job or it will turn into a loan. The sooner you apply the more money you can get.

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