Education grant money is typically provided by either a government agency, charitable foundation, or from within the educational institution. An education grant is a specific amount of money provided to qualified students who are attending post-secondary education. The grant can be used to cover the cost of tuition, and may also include residence, books, and other equipment. A grant does not have to be repaid, unlike a loan, and these funds are not transferable to any other purpose.
The first place to look for information about education grant money is your university or college. Talk to your admissions counselor, student financial aid office, and program administrative coordinator. They can advise you about the different grants available, application time lines, and supporting documentation requirements. Keep in mind that all education grant forms will require a copy of your school transcripts and academic record. Any disciplinary action will be provided to the granting agency.
In order to get education grant money, there is specific application criteria that must be met. There are generally two types of grants: hardship and merit based. Hardship grants are designed to help students who are struggling financially. These grants tend to have broad application criteria, and support students who are in a wide range of programs.
Merit based grants are driven by the academic or athletic success of the students, combined with financial need. These grants tend to have more stringent requirements, with specific expectations to maintain a multi-year grant. The official grade point that you have achieved is very important for these types of grants. If there was a specific hardship or personal issue that had an impact on your academic performance, be sure to include that in your application.
Many charitable programs combine academic requirements with athletics, leadership, or community activism requirements. Additional information, such as a personal essay or interview is usually part of the process as well. It is wise to research the education grant options at least two years in advance and begin to obtain the necessary experiences, in anticipation of your application.
Program advisers and financial aid coordinators are trained to provide information about education grant money to students, in addition to information about scholarships and other financial assistance packages. It is important to remember that education grant money must be reported on your income taxes. Although the rules vary, most states allow a specific amount of grant and scholarship income to be received tax-free.