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Know more about need-based grants

Our nation is one of the main destinations for students who wish to take up the benefit of top-notch and widely recognized international education institutions that come with a high price tag attached to it. However, there are very few scholarships and free college grant money options for international students who wish to pursue their studies in the country for free.

When an 18-year-old is worrying about budgeting, he or she realizes that the cost of college tuition and other expenses is too expensive to bear.

A higher college education means piling up more debt. This debt comes from huge amounts of student loans, but there are other ways and means to pay for colleges like scholarships and free college grant money options which according to the statistics of the year 2015-2016 covers around 34% of college costs.

Need-based grants aim at helping students from low-income families to be eligible for this type of financial aid, which can be school-sponsored or privately funded. Students are required to complete the Free Application for Federal Student Aid (FAFSA) and exhibit a financial assistance that must be met in order for them to be able to attend college. This organization provides grants for college students.

The FAFSA analyzes the family income and assets and determines the financial requirement of the candidate and the Expected Family Contribution. Further, it is compared to the college or the university’s Cost of Attendance.

Pell Grants are the nations’ most popular need-based free college grants and are awarded on the basis of the FAFSA. They are funded by the government and administered by the Department of Education. Pell Grants are awarded to students with a total family income of less than $25,000, even though students coming from higher family income brackets still happen to qualify for these grants. As per the statistics for the 2017-18 academic year, the maximum Pell Grant is $5,920.

The Federal Supplemental Educational Opportunity Grant is another government grant for college students of undergraduate levels with critical financial need. Every year, schools that take part in the program receive funds from the U.S. Department of Education and are required to contribute 25% of the aid awarded where per-student aid can range from $100 to $4,000. Free college grant money can help students secure a higher educational degree even if they are not financially strong.

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