Students Grants – Grants for Educational Purposes
Student financial grants are free money for students to use for their education based on needs, level of degree of studies such as freshmen, sophomore, junior or senior, areas of studies such as math, science, education, law, medicine and technology, talent grants, or grants for disabled, underprivileged and minority students. Grants also help working and displaced adult students to get retrained to return to the workforce. Grants for students can be used to pay for tuition, fees, books, research materials, living expenses, transportation costs, and other educational related expenses. Student grants range anywhere from $500 to $5,500 a year depending on the source of the grant money and type of grant. Grants for students do not have to be repaid like student loans.
Sources of Grants
Grants come from the federal government, state and local communities, private corporations, foundations and universities and colleges as well as medical schools and nursing programs. Grants are applied towards tuition fees first and excess monies are returned to the student. Some grants have stipulations and requirements such as federal teaching grants that require graduate students to teach in low-income area schools or teach certain subjects. Medical or nursing schools may require that students serve in disadvantaged areas where medical professionals are in shortage for a couple years. Funders will provide the criteria and guidelines regarding their grants at the time you apply so there are no misunderstandings on how the funds can be used or other commitments that you must fulfill.
The federal government encourages students to obtain an education and provides grants for them to do so. Pell Grants are the most common type of federal grants and are awarded on a needs basis. There are also Federal Supplemental Opportunity Grants, Teacher Education Assistance Grants for Higher Education, Grants for students studying, math, science, education, technology, and minority grants and grants for women available as well as grants for disabled students.
Federal grants are for students who are U.S. citizens and possess a valid social security number, have a high school diploma or equivalent, are enrolled or intend to enroll in higher education and are not in default on any federal loan or grant. Grants are also available to qualified non-citizens including permanent residents, students who have visas based upon refugee status and students who are citizens of U.S. territories. Students must complete a FASA application on the web, and submit it by the June 30 deadline or sooner depending on their school’s deadline.
Fulbright Grants are common grants given to students by the U.S. Department of State to permit undergraduate and graduate students to advance their studies for teaching and research abroad. A Fulbright Grant is good for about 9 to 12 months. There is a lot of competition for these grants.
Many states offer students grants for education based upon being a resident of that state or serving the state’s specific educational and vocational needs. You should check with your student financial aid office to find out what state grants are available to you. Generally, your school will have a link to state grants.
College and University Grants
A number of colleges and universities have their own student financial grants for various student areas of studies as well as offering summer school grants. Students are encouraged to apply early for grants as these types of grants are given to a limited number of students and on a first come first serve basis. It’s a good idea to meet with your academic counselor and student financial aid office to find out what grants are available to you through our school.
Private Corporation Grants
There are a number of private corporation funders that give grants to students to help them with their financial needs. Grants may be based on the areas of study, minority or underprivileged grants and technology, math. and science grants as well nursing, medicine and law.
Graduate School Grants
There are foundation, private and government grants available for graduate school students in most areas of studies including arts, music, humanities, law, medicine, or other social sciences.
Foundations offer grants to students for all types of careers such as music, theatre, arts, sports, dance, math, science, medicine, law, technology and other careers, scientific research, education and media projects.
The best place to find grants is through your school financial aid office and website. You might also talk to other students and teachers. You can check the grants.gov government grant site as well as other Internet websites that offer information about grants. The key to getting a grant is applying early, following the guidelines and applying for several grants at one time because you may not get the full amount you apply for, and there is no guarantee that you will get any grant. Also be sure to attach any financial information or other required information to your application.
Grants that cover your school tuition, fees, textbooks, research, supplies, and computer or other equipment are usually tax-free for all degree-seeking students. If you are not a degree-seeking student, then the Internal Revenue Service considers grants that you receive as taxable income. You are required to report any taxable grant income on your tax return. If you have any doubts or questions on what is taxable and what is non-taxable, you should seek assistance from your tax advisor.