College grants are similar to scholarships. However, the organization that provides these funds generally checks on the progress the student makes and ensures that all obligations are met, and that the money awarded are being used for educational purposes only. The US federal government is one of the largest providers of education funds in the nation.
There are several kinds of college grants that are being provided to students these days. Federal Grants are provided by the US federal government. This program is under the federal government’s budget and is a very valuable source of funding for college education. Merit-based funds provide free college funds to students based on academic performance and, sometimes in combination with financial need. Many states in the US provide education grants to resident students based on the students’ merit. Many foundations also provide funds to students from the minority community – such as African Americans and Hispanics. Subject specific education grants are grants are provided with the objective of attracting talented students to their corporate fields. Some grants have been designed keeping a specific category of students in mind, such as students from low income or disadvantaged homes, students of graduate, undergraduate, high school and military courses, while few other foundations provide funds exclusively for women.
The Pell Grant is one of the main Federal foundations that provide college grants to the low-income students. This grant program is a valuable source of funding for impoverished undergraduate students. The Academic Competitiveness Grant offers education grants to undergraduate freshman and sophomores with outstanding academic records, with an aptitude for leadership and service. The National Science and Mathematics Access to Retain Talent Grant awards college grants to undergraduate students who are studying computer science, engineering, mathematics, or sciences. Qualifying candidates for the latter two education grants must also be eligible for the Pell Grant.
In order to qualify for almost any of the education grants being offered, students are required to file a Free Application for Federal Student Aid (FAFSA). State government, on the other hand, provides applications for specific college grants. Some programs require extra forms of documentation, such as academic transcripts, in order to qualify.