| The cost of a college education has become | | | | will not graduate with tens of thousands of dollars in |
| unaffordable for a large number of students. By the | | | | student loans that need to be repaid over a certain |
| time a student has to pay for tuition, fees, textbooks, | | | | period of time after graduation. Grants will allow a |
| room and board, and other incidental expenses, they | | | | student to pay for tuition and other costs as they are |
| may see that they just don't have enough money to | | | | incurred without racking up debt. |
| cover it all. Even if they have savings set aside, which | | | | If a student is interested in receiving grant money, they |
| many students don't, they will more than likely need an | | | | should first fill out the Free Application for Federal |
| additional source of funding to cover everything. | | | | Student Aid (FAFSA). This application calculates a |
| The cost of college has continued rising over the last | | | | student and family's expected family contribution (EFC), |
| several years, much faster than the consumer price | | | | and determines how much federal grant money a |
| index, which tracks the rate of inflation. Over the last | | | | student may be eligible to receive. Many other grant |
| thirty years the cost of a college education has | | | | programs besides the government also use the |
| increased by over 300%. That's an astronomical figure | | | | FAFSA as a means of determining grant awards. |
| by anyone's standards. The gigantic increase in tuition | | | | There are a number of different government grants, |
| costs has created a situation that leaves many | | | | but the most well-known government grant is the Pell |
| students from low-income families at a disadvantage | | | | Grant. The Pell Grant award may be as much as |
| when it comes to paying for school. | | | | $5,550 per academic year, depending on the |
| Fortunately, there is hope for students who find | | | | applicant's financial status. For the first time this year, |
| themselves in a financial situation that leaves them | | | | the Pell Grant may now be used to cover tuition |
| unable to pay for all or even part of their school | | | | expenses incurred during summer sessions, allowing |
| expenses. They needn't give up their dreams of | | | | students to complete their coursework sooner than if |
| getting a college degree and improving their lives and | | | | they didn't take classes in the summer. |
| the lives of their families. There are a large number of | | | | Students who want to apply for grants should |
| programs designed to help students who need financial | | | | remember that grants are available for students in |
| help pay for school. | | | | almost every family, financial, and student status. There |
| Many of these financial assistance programs are in the | | | | are numerous grants available for students of various |
| form of a grant. A grant is a financial aid tool that gives | | | | racial, cultural, and ethnic groups. There are also grants |
| money to students who need help paying for school. | | | | available for single parents, or parents who are |
| Grants are offered by a number of organizations, from | | | | returning to college after being in the work force for a |
| the government to private foundations and educational | | | | number of years. Many college institutions and alumni |
| institutions. There are also a number of private | | | | groups also offer grants to students who have shown |
| corporations that offer grants to students. | | | | academic achievement and improvement. There are |
| Grants are an ideal tool for students who have limited | | | | hundreds of grant opportunities available for |
| financial means, because they are essentially gifts. | | | | disadvantaged students that can help them achieve |
| Unlike a student loan, they never need to be paid back. | | | | their college degree, improving their lifetime earning |
| That means that students who receive grant money | | | | potential and offering an opportunity for a better life. |