College Government Grant Loan

Even if a student is lucky enough to find, qualify, and receive a college government grant loan, the price of education keeps increasing. In fact, a recent study by the National Center for Education Statistics shows 50% of college students owe money for student loans upon graduation. Couple these facts with the unstable economy, as of June 2008, the Oil Price Information Service lists gas at more than $4 pr gallon, and the result is significantly higher numbers of financially strained students and parents. Keep in mind that The College Board estimates the average cost of a private, four-year college costs about $28,000 annually, and public universities are estimated at $13,000 annually in their own regard.

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Certain restrictions on receiving a college government grant loan including:

• Student must be a U.S. citizen or eligible non-citizen
• Demonstrated financial need (dependent on the EFC of your FAFSA)
• Student must be enrolled in a degree-granting institution at least half-time
• Must have a demonstrated financial need (as determined by the FAFSA)
• Must have a high school diploma, GED, or pass a test by the U.S. Dept. of Education.
• Must not be in default or owe money on any education grant
• FAFSA must be filled out by the deadline

For the average American, continuing education at the postsecondary education is viewed as an investment much like a personal vehicle or real estate. In the same regards as other investments, many students look for financing from lending sources such a college government grant loan program. By using government grants or loans, student can vastly improve the terms and conditions of repayment when debt obligations commence following leaving their respective college or university.

To qualify for a college grant student loan, students need to complete the Federal Application for Student Aid (FAFSA). This paperwork determines a student’s financial background and status. From this, the federal government decides a student’s award amount. The deadline for the FAFSA is June 30th, and students can apply online or request a paper form. Additionally, most schools have a priority deadline for financial aid.

One well-known form of government grants intended for postsecondary education is the Pell Grant. The Pell Grant, established in 1972, is one well-known college government grant loan that the federal government offers to students. The Pell Grant supports low-income students and is unique in that it does not need to be paid back. To show need, a student must determine his or her Estimated Family Contribution (EFC) by completing the Free Application for Federal Student Aid (FAFSA). The amount of this grant depends upon federal funding, and recently, its cap was $4,000. Other aid offered in conjunction with the Pell Grant include The Academic Competitiveness Grant (AC) and The National Science and Mathematics Access to Retain Grant (Smart Grant), each of which rewards academically gifted students who demonstrate financial need. The AC is offered to undergraduate freshman and sophomores with particularly striking academic records and who have leadership and service skills or potential. The SMART GRANT provides undergraduate juniors or seniors with funding if they are studying one of the following: computer science, engineering, mathematics, or sciences. Students can receive as much as $4,000 for each year.

Now is the time to research and apply for a college grant student loan. The College Board reports the cost of attending a public university will rise approximately 6% annually. Because of this, many students, according to the US Department of Education, assume they will not qualify for a college grant student loan and instead apply for private loans. Why take out a loan mandating repayment with exorbitant interest rates when the federal government is offering the chance at some free financial aid?

Looking for more information on a college government grant loan?
Receive college government loan assistance today.