Find out how to get grants for college

By Citizens Staff

The price of attending college keeps going up. According to the Institute for College Access and Success, the average student loan debt for the class of 2017 totaled $28,650.

However, the good news is that your child can potentially claim "free money" in the form of grants for college.

Here's how the grant process works:

Scholarships vs. grants

Grants and scholarships are both forms of “gift aid." Unlike student loans, recipients don't need to pay them back.

Scholarships can be need- or merit-based, but are typically based on merit. Grants are usually based on financial need and are awarded by colleges, states, and the federal government. Most state-level grants are given to those who plan on attending a college or university located in the student's home state, but some allow students to use the funds to attend out-of-state schools.

Federal grant programs

Federal grants include the Pell Grant, TEACH Grants for those who plan on becoming teachers in low-income areas, and Federal Supplemental and Educational Opportunity Grants (FSEOGs).

One of the most common types of grants is the Pell Grant, which is awarded to students who demonstrate exceptional financial need. The amount a student can receive changes every year. For the 2019-2020 school year, the maximum Pell Grant award is $6,195.

The amount a student is awarded for a Federal Pell Grant depends on a number of factors, including the Expected Family Contribution (EFC), the cost of attendance (COA), the student’s status (part time or full time), and whether the student will be attending one or both semesters.

State grants

Beyond the federal government, state governments offer grant money as well. Check with your state's education agency to see what scholarship and aid programs are available.

Here are just a few examples: California's Cal Grant is for students who are attending an in-state college or technical or vocational school. Missouri's Minority and Underrepresented Environmental Literacy Program helps those pursuing higher education in the environmental sciences. New York State's Tuition Assistance Program (TAP) provides financial assistance (up to $5,165 per school year) to eligible students who are attending approved schools in the state of New York.

Military service grants

In some cases, the federal government offers grants to those whose parents or guardians died during military service in Iran or Afghanistan following 9/11. To qualify, students must be less than 24 years old at the time their parent or guardian passed away, and be enrolled at least part time in a college or career program.

If the student is eligible to receive a Pell Grant and meets the above requirements, their Expected Family Contribution (EFC) will be $0. This not only increases the Pell Grant award amount the student will receive, but it can improve the student’s chances of receiving other federal student aid.

Students who meet the military requirements listed above but have an EFC that’s too high to qualify for a Pell Grant are eligible to receive the Iran and Afghanistan Service Grant. The maximum award is the same as for a Pell Grant, and receiving the award will not affect the student’s EFC or qualification for other need-based federal aid.

Submit the FAFSA®

In order to be considered for need-based financial aid, your student will need to submit the Free Application for Federal Student Aid (FAFSA®). If they don't submit a FAFSA, they won't be eligible to receive any grants or any federal student loans (even a PLUS loan requires a FAFSA to be completed).

For the FAFSA, state deadlines may differ from federal ones. Your child must resubmit the FAFSA each year they attend college. Even if your student isn't eligible for financial aid one school year, they could qualify the next.

Note the eligibility requirements

Your child will need to maintain eligibility to retain their grant. Typical requirements include staying enrolled in school and reapplying for the FAFSA each year. Grants may also list their own requirements. If your child doesn't fulfill the requirements, they may have to repay a portion of the grant.

While college grants usually make up a small part of a financial aid package, they can help reduce debt and set your child off on the right foot financially.

Made ready for college

Click here for more information about how to pay for college. You can also call 1-888-411-0266 or stop by your nearest Citizens branch.