Grants for College

So you want to go to college. That’s great — and expensive! You have probably read or heard about the tremendous debt burdens college students are graduating with. And that’s scary. But it really doesn’t have to be the case for you. It can be tricky — and confusing — to sort out all the options you have to take care of the cost of college. This article can help get you through that and on a productive path.

Pursuing grants and scholarships should be at the top of your list. These are real “free money:” they never need to be repaid. Some are easy to get, some harder. But a lot are possible! You will work for it but that’s a good thing to get used to — you’ll need to work for that college degree too.

Don’t forget about work-study programs. It may sound tough to handle your course work as well as paid work but a lot of people do it. And the experience you get will also look good on your resume later …

Loans are also a possibility but they should be your last choice. They do need to be paid back — with interest. And that can add up more quickly than you think. So it’s worth taking time to explore the free money options:

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Free Money For College

March 2019 If you live in California and would like to go to Community College, you could be in luck. A new bill called the California Community College Financial Aid Program would, if passed, provide millions of dollars to help community college students to handle non-tuition costs like housing, transportation, textbooks and other school supplies. Students would have to work about 15 hours per week to help pay about $5,000 to $6000 per year to the cost of attending. This move would dramatically reduce the full cost of going to a community college, where students typically do not receive as much federal aid as those attending other schools.

News August 2019

By now you’ve probably heard about the college financial aid loophole some parents — particularly in the Chicago area — have been using to increase the amount of financial aid their children can qualify for. They legally transfer guardianship of the their child to a friend or relative so that the only income the student reports on their FAFSA is the student’s own income — typically not much. So they can pretty dramatically increase the aid they’re eligible for, especially if their parents are wealthy. Lawmakers are working to close that loophole so don’t try it — those who have already used this scheme are being investigated.

News February 2019

Did you know that some colleges will pay you to take a year off to travel and/or work on some sort of project before you enter college? Participating colleges include Tufts University outside Boston, Princeton University, the University of North Carolina Chapel Hill,Duke University, and Florida State University. There may be others, these were the ones mentioned in a recent article in the Wall Street Journal about such “gap year programs.” . At Duke a pair of “”venture philanthropists” will donate $500,000 each year for 3 years to fund this program, and then they will provide $10 million for an ongoingt endowment of the program.

Special for Vets 2018 Are you a vet? Do you have student loan debt outstanding and need help with it? If you are eligible President Trump wants to forgive your loan – and he and the Departments of Education and of Veterans Affairs are making it happen! Check out more detail in our latest article about

FAFSA Applications: Important to Know! Please keep in mind that your senior year in high school is not the only year that you apply for student aid. It’s required that you re-apply each year, both in undergraduate and grad school. These applications — using the FAFSA — are used not only by the federal government but also by other schools and organizations that provide scholarships and grants. So it’s worth making a serious effort not only to get your application in on time but, ideally, as early as possible. Some of these awards are made on a first come, first served basis and the earliest awards tend to be the largest.

Grants for Study Abroad Are you interested in spending some part of your college years studying abroad – during the school year or the summer? Be sure to see our article about Travel Grants. It includes some great resources and tips about finding assistance to finance your dream.

Update June 2017
 Betsy DeVos, Secretary of the Department of Education, is working with her department to retool Obama’s “Borrower Defense Rule” and create a new Borrower Defense to Repayment and Gainful Employment Regulations. Under the initial rules students could petition to get loans forgiven if they could prove that the school misled them regarding what sort of jobs they could get based on the school’s programs. Though critics are up in arms it should be noted that the protections are not being erased. They are being rewritten to be fair to all, easy to understand, and not cumbersome to carry out. And DeVos has promised that any promises made to students under the initial rules will be kept. So as always, look beyond the noise and focus on facts…

Gifts Mean More Scholarships

UCSF (the University of California, San Francisco) has received a whopping gift of $500 million – that's right, half a billion dollars! They plan to use it in a number of areas such as faculty, research and – perhaps of greatest interest to you – student support. This is the largest single donation ever made to a public university. And $200 million of it will go to faculty and student financial aid. They specifically plan to increase scholarships for students in health care fields like dental, nursing, medical and pharmacy. So if you've had any interest in going to a great (but expensive) city like San Francisco for college this could be a great time to apply, especially if you will be looking for financial aid. Check what's happening at schools you are interested in!

FAFSA and CSS Profile

Even if you’ve heard this a thousand times it’s important to pay attention to. The Free Application for Federal Student Aid (FAFSA) is the most important document you can take care of to get federal and state aid — and some private awards — to help pay for school. They are also critical for putting you in line for work-study assignments as well as for loan and other aid provided by the college or university. Submit it as early as as possible. Some funds are given based on first-come, first-served — you don’t want to apply and find out the money has run out!

Some students and families don’t bother filling out the FAFSA because they think they don’t qualify because their income is too high. Or they think it’s just too hard and detailed to complete. But the Department of Education has made changes that make the form less burdensome. They also will now accept older tax information than in prior years, so you don’t have to finish your most recent taxes early in order to complete the form. And soon they’ll be able to access the information directly from the IRS (with your permission of course.) So it can really take you 20 to 25 minutes to complete if you have all your basic information at hand. And remember it’s family income that is required, not just the student’s.

A caveat: when you go to find and fill out the FAFSA, make sure you are on the website Do not be fooled by others! And check out our review of FAFSA to get more information and tips.

There is also a form called the CSS Profile that is used by some schools. These schools prefer to use their own method to determine the impact of your family’s income and assets. In some ways it is tougher on families because it may include a portion of the net worth of homes owned. It also includes the net worth of small family businesses and includes a requirement for a minimum amount of the student’s contribution as well as an expectation for income from summer work. The number of children in college also has a smaller impact on total family assets and income considerations. On the positive side they do subtract the allowance for college savings and allowance for emergency reserve from the family’s assets.

Calculating Expenses When you’re working on figuring out how much money you’ll need for college remember that your costs will include more than “just” tuition, books, room and board. Don’t leave them out of your calculations and your plans about how to pay for everything! Here are just a few of the expenses you might not have thought of including in your plans:

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  • If you’re planning to join a social club or athletic team keep in mind that they probably have some annual dues.
  • If you’re going to a college in a different area that has very different weather from where you live you may need to invest in some new clothing to deal with temperatures you’re not used to.
  • Be aware of whether your college will let you print a specific number of pages each term before charging you anything. If so, use that allotment before you spend money on expenses for your own paper and printer. And calculate how much you expect to need to spend on printing.

The Pell Grant is of course the best known grant for students. It is a gem because you do not have to qualify based on anything but your income level. And you don’t even have to really compete for these grants except by getting your FAFSA application in as early as possible. These are awarded first-come, first -served so act fast. If you’re curious to know if you might qualify you can take our quick 2-minute Pell Grant quiz to find out.

If you have a really strong financial need you may qualify for the FSEOG or Federal Supplemental Educational Opportunity Grant. You might receive anywhere from $100 to $4000 per year depending on how much other aid you are receiving. And again, they way you apply is by competing and filing your FAFSA.

FSEOG Grant The Federal Supplemental Educational Opportunity Grant (FSEOG) provides funds to those with extreme financial need. It is intended to fill in the gap between standard financial aid awards and what is required to pay for your education. As with all federal student aid you apply by way of the FAFSA. You will be awarded an FSEOG if your financial need is substantial enough, and these funds typically do not need to be repaid. (You could be required to repay the funds if your enrollment status changes or you receive scholarships or other funds which reduce your financial need). Awards are typically between $100 - $4000 per year.

If you don’t qualify for the Pell Grant based on your family’s income but you do qualify based on all other criteria you could receive a special grant if your parent or guardian was in the U.S. armed forces and was killed while in the service after September 11,2001 in Iraq or Afghanistan. The most you could receive is $5815, and you must be under 24 years of age or have been enrolled in college when you lost your parent or guardian.


These are really our favorite sources of funds for students. Yes, you have to do some work to win them. But there are SO many out there — and so many students ignore this gold mine or frankly are just too lazy to bother. That is definitely the wrong attitude when there are so many millions available to help you avoid being buried under a mountain of student debt that taxpayers are NOT going to forgive!

We’ll repeat: like grants, scholarships are awards of money that does not ever have to be repaid. They are a gift — and you can earn one (or more!). Yes some require that you be brilliant and rank at the top of your class with a super high gpa. But — and it’s an important but — many do not. Some are simply contests and the winner is chosen by chance. So you just have to find them and fill out the paperwork. Check out Scholarship Contests to learn where and how to find them. Some scholarships are given for specific areas of interest and intended professions so you already have an advantage if you know what you plan to major in and do after college. If you have artistic, musical or athletic talent you qualify for lots of scholarships. For that matter if you’re left-handed you qualify for some! More and more provide funds to students who have made community service an important part of their extra-curricular activities. And some just ask you to write an essay on a particular topic. It could be a topic you are passionate about, so they’re worth looking into.

Some more great resources exist to help you find scholarships because there are so many of them. Here are some:

College Loans

When you receive you financial aid letter after you submit your FAFSA, it may include a combination of grants, scholarships and work-study possibilities as well as student loans. Student Loans may be necessary but they should be your last resort. Some of these loans will probably be subsidized, which is good, and most likely will have interest rates lower than you can get from private (i.e. not government) lenders. You may accept or decline any part of the package. And while loans may not be ideal, they probably are more advisable than private loans — even though banks may try to make those look very appealing.

Finally, go back and re-read the advice about Grants and Scholarships. They are worth the effort!

Recent Updates

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