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College Grant Money – About Grants, Scholarships and Loans

Once you’ve decided you want to go to college, the next step is to plan how you’re going to finance it. Many adults cannot finance college on their own and therefore seek college grant money in the form of grants, scholarships and loans. Learn more about these 3 options below.

Scholarships

There seems to be a misconception that scholarships are only for high school graduates. The good news is that there are many scholarships for adults. Not all scholarships are based on academic results either, some focus on minority groups and another example are those that focus on specific subjects or interests, for example there are super scholarships for women studying engineering. Scholarships are usually awarded by colleges and universities, private companies and organizations.

Grants

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Grants refer to available federal grant aid. There are various grants available and you should check which ones you will be eligible for. The FAFSA website is the best place to go to complete your application online as well as get more information. The most well-known federal grant is called the Federal Pell Grant, which can give you up to $5350 per academic year. Next will be the FSEOG designed for financially needy people, where you can get anything from $100 to $4000.

Loans

If you’ve applied for all the grants and scholarships you can and you’re still short on money, you should consider a loan. Remember that grants and scholarships are non-refundable, so always make this your first choice for funding. However, don’t worry if you are short of money as there are excellent loans available. Take a look at Perkins loans and Stafford Loans. Some loans are interest-free and others accumulate very low interest.

Always apply for free money first as this is your best bet. To get the ball rolling, why not apply for a $10,000 scholarship right now? It’s quick and easy and takes no time, do it now.

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