Need Based Grants for Collegiate Financial Assistance

Going to college is definitely not an easy task. Aside from the tedious task of picking the perfect college for you, you also have to worry about the financial aspect of going to a university. We all know that tuition fees are now at an all time high and without any kind of aid or assistance, shelling out large sums of money for a student’s matriculation will be difficult if not impossible.

However, in the United States, scholarships and grants are a staple when someone is going to college. Not many people can afford to go college on their own, out of their own pockets. A student is expected to have taken a loan or a scholarship of some sort. Loans are not good options for financial aid, however, since loans need to be repaid after you graduate in college. Scholarships and grants, especially need based grants, are perfect ways of financial assistance because you will not be indebted to an organization or to anyone else after you graduate.

There are many ways to acquire need based grants for your schooling. But first, you need to demonstrate that you are really in financial need. Need based grants are usually given only to students that may not be able to go to college without it. Aside from that, you need to pass other tests and documents to become eligible to a need based grant, one of which is your family’s expected contribution (FEC) to your studies. If it can be shown that they can do little to help you financially, then there is a strong chance you will be granted need based grants.

Need based grants are funded by the federal government most of the time, and the most popular of all need based grants is the Federal Pell Grant. A Pell grant will usually look for your family’s FEC, the number of dependents in your family, and your current status as a student.

Luckily, need based grants do not usually refer to your academic standing to determine eligibility to the grant. However, you need to have a passable performance in college in order to keep your grant year after year.

As you can see, getting a need based grant will be truly instrumental to your college life. It’s easy to apply for it, it doesn’t demand too much from you, and the best part is you won’t need to repay anything after you’ve graduated in college.