What is a College Grant?

<p>In essence, a college grant is free money that can be used by students to ease the cost of many college expenses. Some of the advantages of a college grant include unrestricted use of funds and, unlike student loans, an absence of repayment obligations. The U.S. Department of Education's website (<i>www.ed.gov</i>) provides information on a variety of grant types, as well as other sources of funding for college. The following list displays some different types of college grants: </p> <ul><li>Federal and state </li><li>Grants for minorities and women </li><li>Subject-specific </li></ul><h3 id="section---ImportantFactsAboutCollegePrograms"> Important Facts About College Programs</h3> <p /> <table border="1"><tr><td> Degree Levels </td><td> Associate's, bachelor's, master's and doctorate degrees available</td></tr> <tr><td> Prerequisites</td><td> Varies, depending upon desired program of enrollment; associate's and bachelor's programs typically require a high school diploma, or equivalent</td></tr> <tr><td> Concentrations </td><td> Nursing, mathematics, operations management, psychology, sport management, retailing, public health, finance, environmental science, anthropology</td></tr> <tr><td> Online Availability </td><td> Full programs available</td></tr> </table><h3 id="section---FederalAndStateGrants">Federal and State Grants</h3> <p>Federal and state grants are the most common types of college grants. State college grant programs vary from state to state, with a variety of eligibility requirements and types of grants. The most well-known federal college grant programs are described here: </p> <ul><li>Federal Pell Grant: This grant is available to low-income undergraduate students. The maximum award amount during the 2015-2016 academic year was $5,775, according to the U.S. Department of Education. </li><li>Federal Supplemental Education Opportunity Grants (FSEOG): This grant is available for low-income students who are the least able to pay for college. Students who qualify for a Federal Pell Grant may also quality for this funding. </li><li>Academic Competitiveness Grant: This offering is open to undergraduate students with exceptional academic records. </li><li>National Science and Mathematics Access to Retain Talent Grant (SMART): The SMART grant is available to third- and fourth-year students majoring in computer science, mathematics, physical sciences or engineering. </li></ul><h3 id="section---GrantsForMinoritiesAndWomen">Grants for Minorities and Women</h3> <p>Many types of college grants are available to minorities and women. Specific grants are offered to African-American, Asian-American, Hispanic and Native American students. Grants for women are generally awarded to those enrolled in areas of study not typically populated by women, such as mathematics and the physical sciences. </p> <h3 id="section---SubjectSpecificGrants">Subject-Specific Grants</h3> <p>A large number of corporations, private organizations and even federal agencies provide college grants to students majoring in specific fields of study. Those pursuing degrees in engineering, nursing, technology, teaching and even the arts can receive a specialized college grant. These types of grants are meant to attract students to and retain them in particular academic programs.</p>