Grants are college financial aid awards that don't have to be repaid, are usually based on financial need and are considered a gift from your school, the federal government, the state or a private foundation.
Below is a description of the differnt types of grants for college:
Federal Pell Grant
Federal Supplemental Educational Opportunity Grant (FSEOG)
Grant for financially needy undergraduates awarded through the school financial aid office. FSEOGs are awarded to the lowest income undergraduate students. Preference is given to Pell Grant recipients.
Eligibility: U.S. Citizen/Permanent residents; full/part-time undergrad; need-based
Amount: $4,000 maximum award; $100 minimum award
How to apply: Complete the FAFSA by your school's specified deadline.
Teacher Education Assistance for College and Higher Education (TEACH) Grant Program
Program for students who are enrolled in a teaching program and intend to teach full-time in a high-need area at a public or private elementary or secondary school that serves students from low-income families. Student must meet certain requirements after graduation or grant will need to be repaid as a Federal Direct Unsubsidized Stafford Loan with interest accruing from date of each grant disbursement.
Eligibility: For U.S. Citizen or eligible non-citizen; undergraduate or graduate students at a participating schools. You must meet certain academic achievement requirements.
Amount: $4,000 maximum award per year; must sign agreement to serve each year; if fail meet teaching requirements after graduation, grants must be paid back as unsubsidized Stafford loan.
How to apply: Contact the financial aid office at your college if you are interested in this grant. You must complete the FAFSA for eligibility but you do not have to prove financial need.
Rhode Island State Grants
- Provides funds to eligible colleges in Rhode Island for distribution to students.
- To be eligible for consideration, a student must file a completed FAFSA at www.fafsa.ed.gov
- Students should contact the Financial Aid Office at the college they plan to attend for complete program details at that school.
A grant that is considered a gift from your school and may be awarded based on financial need, academic merit or some combination. Institutional grants often supplement federal awards to help financially needy students meet the total cost of attendance.
Amount: Up to your total cost of attendance. Your award will be determined by your school's procedures for awarding institutional grant aid and by their availability of funds.
How to apply: Find out what your school's procedures are for awarding institutional aid. Your school may require that you complete other financial forms in addition to the FAFSA, such as the CSS Profile or institutional finiancial aid forms.