Understanding Student Grants
Aside from student loans and scholarships, a variety of financial aid resources exist to make higher education a reality for everyone. A student grant is one of these resources, and its benefit is that it does not require the recipient to repay any money.
For many students there are many different types of grants available, all targeted towards funding a wide range of interests and educational goals. Within our Education Resources, we've compiled information about some of the more popular types of federal grants for your review. In the meantime, you can find more general federal grant information below.
Eligibility for Financial Aid
In order to be eligible to receive federal financial aid, all applicants must be either a U.S. citizen or a qualified noncitizen. They must not currently be in default of any federal loans, and they must satisfy all Selective Service Act requirements, if applicable. Applicants should be enrolled or have plans to enroll in a degree-granting institution that participates in the specific grant program, and all awarded funds must only be used for school-related expenses.
Each grant can carry its own set of guidelines and requirements for eligibility, so be sure to investigate the specifics of your desired grant carefully.
Receiving Your Federal Grant Money
Similar to federal loans, federal grants are administered by the school that the grant recipient attends. The school then disburses the appropriate sums after receiving its portion of the allocated federal funds. For grant recipients, funds will be disbursed at least twice during the academic year, either electronically or via check. To learn more about the grant disbursement policies of the school you or your child attends, contact that institution's Student Financial Aid Office directly.
