Part I: Cutting the cost of a college degree
Search for free money.
Federal Pell Grants. Grants from this program will not finance the full cost of a college degree, but they are helpful. The amount you receive can range from several hundred to several thousand dollars. The size of grant you receive depends upon your financial needs and the amount the college of your choice has received from the federal government for aiding students. They only receive a fixed amount for each school year so apply early because once the money is gone; it will not be replenished until the following year.
If you qualify for the Pell Grant and plan to major in math or science you could also receive additional money from the Academic competitiveness Grant or National SMART Grant.
State Grants. These grants are also based on your financial needs, but many states also use part of this money to encourage students into certain vocations such as teaching or nursing. If a state is experiencing a shortage of teachers or nurses many times they will offer an attractive incentive to students. Your full tuition or a large part of it will be paid by the state, if you are willing to work a predetermined amount of time in areas of the state with the greatest need for these services. How to apply for these grants can be found on the state’s web site under student-aid or higher-education commission.
Federal Supplemental Education Opportunity Grants. These grants are ear marked for low-income students so be sure to find out the maximum income allowed before applying. If you are living at home, income will be determined off the amount your parents make per year.
Institutional grants. Colleges and universities use these grants as incentives to attract the most desirable students. You cannot apply for these grants, but you can increase your chances of receiving one by applying to schools most likely to want you as a student.
To apply for a federal grant you will need to complete an application for Federal Student Aid. You can obtain this form from the college’s financial office, fill it out on line, or call the U.S. Department of Education at 1-800-433-3243 to have the form mailed to you.
January 1st is the earliest you can apply for the following school year. It is not unusual for the grant money to be used up by mid February so file as soon as possible.
The college, state, or federal grant agency may require additional forms and documentation. Your college’s financial aid office can help guide you through this process.
Watch for part II coming soon
Denise Wing, C.E.O.
Certified Mortgage Lender
Academy National Mortgage Corporation
303-987-0622
Federal Pell Grants. Grants from this program will not finance the full cost of a college degree, but they are helpful. The amount you receive can range from several hundred to several thousand dollars. The size of grant you receive depends upon your financial needs and the amount the college of your choice has received from the federal government for aiding students. They only receive a fixed amount for each school year so apply early because once the money is gone; it will not be replenished until the following year.
If you qualify for the Pell Grant and plan to major in math or science you could also receive additional money from the Academic competitiveness Grant or National SMART Grant.
State Grants. These grants are also based on your financial needs, but many states also use part of this money to encourage students into certain vocations such as teaching or nursing. If a state is experiencing a shortage of teachers or nurses many times they will offer an attractive incentive to students. Your full tuition or a large part of it will be paid by the state, if you are willing to work a predetermined amount of time in areas of the state with the greatest need for these services. How to apply for these grants can be found on the state’s web site under student-aid or higher-education commission.
Federal Supplemental Education Opportunity Grants. These grants are ear marked for low-income students so be sure to find out the maximum income allowed before applying. If you are living at home, income will be determined off the amount your parents make per year.
Institutional grants. Colleges and universities use these grants as incentives to attract the most desirable students. You cannot apply for these grants, but you can increase your chances of receiving one by applying to schools most likely to want you as a student.
To apply for a federal grant you will need to complete an application for Federal Student Aid. You can obtain this form from the college’s financial office, fill it out on line, or call the U.S. Department of Education at 1-800-433-3243 to have the form mailed to you.
January 1st is the earliest you can apply for the following school year. It is not unusual for the grant money to be used up by mid February so file as soon as possible.
The college, state, or federal grant agency may require additional forms and documentation. Your college’s financial aid office can help guide you through this process.
Watch for part II coming soon
Denise Wing, C.E.O.
Certified Mortgage Lender
Academy National Mortgage Corporation
303-987-0622
posted by Academy National Mortgage at 9:00 AM
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