4 College Grants You Should Consider Applying For

Posted by Viviana Vazquez in College LifeJuly 5, 2021(Last Updated December 8, 2022)2 min read
Key Takeaways
  • The Federal Pell Grant is one of the most popular and known grant offerings. 
  • Scholarships and grants are essential opportunities to get free cash toward your higher education. 
  • You can start to apply for financial assistance for college while in grade school. 
Are you ready to make some real money moves?

If you are an upcoming or current college student, you should constantly look at scholarships and grants as your first choice to pay for college instead of settling for student loans. After all, you can never get enough free cash to further your education. Free money over student loan debt wins every time. 

 

Looking for opportunities while attending high school and college that offer money to help pay for tuition is important. Fortunately, multiple government websites provide a list of grants, including the four listed. 

 

Federal Pell Grants 

 

The Federal Pell Grant is tailored to college students who need economic assistance to reduce financial stress. The qualifications are fairly lenient, but your or your family’s income will determine the amount received. For example, if your family makes less than $30,000 a year, you likely will qualify for the total amount of funding for a Pell Grant. On the other hand, if your family makes between $30,000 and $60,000 per year, you can be eligible for the grant, but likely not the total amount possible.

The maximum amount provided under the Federal Pell Grant for the 2021–22 academic year will be $6,495. However, the maximum amount can change yearly.

 

Students are ineligible for a Federal Pell Grant if their family income does not demonstrate an extreme financial need or if they are post-undergraduate. 

 

Federal Supplemental Educational Opportunity Grant (FSEOG)  

 

The Federal Supplemental Educational Opportunity Grant (FSEOG) is only offered to students with an exceptional need for financial assistance. Though the FSEOG may seem similar to the Federal Pell Grant, it is different as the Pell Grant is more widely awarded to students who apply. On the contrary, the FSEOG is directly offered by the financial aid of participating schools. Therefore, to ensure the maximum amount of money can be given, apply to your school’s office for financial assistance as soon as possible. 

 

Iraq and Afghanistan Service Grant

 

The Iraq and Afghanistan Service Grant is offered to students who lost a parent or guardian while in military service after 9/11. Additionally, people who apply for Iraq and Afghanistan Service Grant should not meet the eligibility requirements of the Federal Pell Grant.  

 

TEACH Grant

 

The Teacher Education Assistance for College and Higher Education (TEACH) Grant is offered to college students who want to teach in a high-need, low-income area. This grant will provide up to $3,772 after taxes per year.

 

The Money Wrap-Up - Bonus

 

A bonus service program you should look at for financial assistance is Scholarships360 No Essay Scholarship. Though this isn’t a grant, it is a scholarship that does not require you to write an essay. The applicant must be a high school, college, community college, transfer, or graduate student. The prize for this scholarship is $500, and there are no application requirements. 

Was this content helpful?
Comments (0)

Sign In to leave a comment.

Download the CapWay App

Access more features to your Money Account

  • Money Goals
  • Request Money
  • Categorize Spending
  • Money Talk

The CapWay, Inc Debit Visa Card is issued by Metropolitan Commercial Bank (Member FDIC) pursuant to a license from Visa U.S.A. Inc. “Metropolitan Commercial Bank” and “Metropolitan” are registered trademarks of Metropolitan Commercial Bank ©2014.

1. For Money Account holders with a negative balance, the CapWay debit card will go into freeze until funds are deposited to bring account back to current. See terms and conditions

2. Sending or receiving money from other CapWay account holders will be instant. Transfers from other accounts could take up to 48 hours, depending on the financial institution.

3. Early access to funds requires direct deposit. Early payment is not guaranteed and is dependent on the timing of payer's submission of deposits. We generally post such deposits on the day they are received which may be up to 2 days earlier than the payer's scheduled payment date.

4. Money Goals allows account holders to save money towards financial goals created within the CapWay platform. Funds can be transferred from your Money Account or saved through the rounding up of your transactions from purchases.

5. CapWay offers financial content through Learn Money free of charge, but may include advertisements through affiliates. Phunds, CapWay's literacy program and session, is paid content or co-branded content.

© 2019-2022 CapWay Inc. All Rights Reserved.