Selasa, 08 November 2011

Help Pay Your College Tuition With Pell Grants

By Michelle Conner


The cost of a college education has become unaffordable for a large number of students. By the time a student has to pay for tuition, fees, textbooks, room and board, and other incidental expenses, they may see that they just don't have enough money to cover it all. Searching for articles on undergraduate scholarships information will help a student take care of other college issues. Even if they have savings set aside, which many students don't, they will more than likely need an additional source of funding to cover everything.

The reason it's hard to wrap your brain around the high cost of an education is because of the incredible inflation in college costs. Costs have risen a whopping 300% over the past 30 years; no wonder it's so expensive. Unfortunately, those numbers leave a lot of students out in the cold, because the large amounts of money needed to pay for school just aren't available.

The news from school isn't all bad. Looking at information on scholarship program will certainly ease the transition to college. Many students who find themselves in an economic pinch may still have a good chance of following through on their desire to improve their lives by achieving a college degree. There are many types of financial aid available that are especially for students who find themselves at an economic disadvantage.

Grants are an excellent way for a student to pay for all or part of their education. Grants are a form of financial assistance that essentially gives money to students who need help. Many students might not know that grants are given from many different kinds of organizations and individuals. For example, there are government grants, as well as privately and publicly funded grants, in addition to a great number of corporate grants.

Grants are an ideal tool for students who have limited financial means, because they are essentially gifts. Unlike a student loan, they never need to be paid back. That means that students who receive grant money will not graduate with tens of thousands of dollars in student loans that need to be repaid over a certain period of time after graduation. Grants will allow a student to pay for tuition and other costs as they are incurred without racking up debt.

Getting started in the grant process is fairly easy. You merely need to complete and submit a FAFSA (Free Application for Federal Student Aid). This tool calculates your expected family contribution. The amount of grant money you are eligible for depends on your EFC. The government, as well as other grant foundations and organizations, use the FAFSA and EFC to determine grant eligibility.

The Pell Grant may be the most popular government grant because of its generous awards to students who have the most need. Students who qualify can receive as much as $5,550 each academic year, which can go a long way towards college expenses. For the first time this year, the Pell Grant can be used during summer academic sessions, which may help students complete their classes and graduate sooner.




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