College grants and scholarships

Obtaining A Federal Education Grant If you are considering going to college or if you are the parent of a prospective college student, the thought of how you are going to finance these years of education are probably keeping you awake at night.

Depending on where you plan to go to college, as a resident or non-resident, is just one factor in the cost of an education. Whether you plan to commute from home, stay in a dorm, or share an apartment with other students, it all adds up. Factor in the price of textbooks, even used ones, and the bill just keeps getting higher. Meal plans, meals at the student lounge, or just home cooking aren’t free either. Don’t get me started on the price of gas if you need to drive to class.

The point I am getting at is that everyone needs help paying for college, unless you are a trust-fund baby! So you want to make sure you take advantage of every opportunity out there to access funds for school. If you’re like me, the best money is the kind you don’t have to repay- with interest on top of the initial amount. If you are looking for a deal like this -and who isn’t? – then a government grant is the ideal option.

The first step in applying for a federal grant is to complete the FAFSA, which every high school counselor can advise you about. You can complete the form online, but you will need to have your documents on hand in order to do this. Have your last or recent tax return, W-2, investment and savings amounts, and any financial documents ready. You can even complete an online worksheet first, then print it out, to help you complete the final form.

Make sure you apply as early as possible before the fall of your college year starts. March of the senior year is the suggested deadline, but if you miss that date, apply anyway. They may ask you to supply copies of documents too. Once this is completed, you just need to wait to hear from the college that you selected. The financial aid office at the college will be the one to make the award of the grant, called a Federal Pell Grant. Good luck with your grant and with your studies!