subject: Obtaining Educational Grants For Higher Education [print this page] Attending college and earning a degree is extremely important, yet many prospective students struggle with how to finance their higher education. A 2009 study showed that 86 percent of students borrowed to pay for education, and the average graduate owes $23,186.
However, families where just one member has a four-year college degree earn a median $50,000 per year more than do those with only a high school education. Clearly, college pays off. While unlike many other types of debt, educational debt can be considered healthy, but it is important that you don't overdo it. Therefore, students must diligently seek out sources of funding for school that do not result in accumulated debt.
The good news: More than $168 billion in financial aid is available to students and their families every year.
The starting point in financing post-secondary education is the Free Application for Federal Student Aid. FAFSA is the first step to nine federal student aid programs, as well as 605 additional programs administered by states and academic institutions. Students can get aid for both four-year institutions and community colleges. Start at www.fafsa.ed.gov, but remember the opportunities to gain educational funding should not stop there!
Educational grants is a source of financial aid that is often overlooked, yet can provide significant assistance to those who qualify. Educational grants offered by individuals and organizations to qualified students are sometimes given for individual traits, characteristics, and talents. These may be related to academic or career goals, extra-curricular participation, family genealogical history, military service, or religious affiliation. Educational grants are available for everyone from left-handed students to students whose parents work in certain professions -- even students without sky-high GPAs. But, unlike the automatic assistance given by the FAFSA, you have to search and apply for these college grant opportunities.
You may feel like educational grant awards are too competitive, but someone has to win, so why shouldn't it be you? The first step is to think about what can separate you from the pool fo candidates? There are ways to improve your chances at landing a grant to attend college, even if it's the most competitive scholarship with the biggest reward. Target academic scholarships if you have a stellar GPA and standardized test scores, but also note what makes you unique. Be meticulous in your college grant research, and consider every trait when researching potential scholarship sources.
Finally, be prepared to submit a well developed scholarship essay. Most educational grant programs require a personal written statement from the applicant that eloquently describes the student's personal, academic, and extra-curricular backgrounds. If professional writing is not your strong point, you may want to consider enlisting the assistance of an experienced grant writer.
Once you're ready to start applying, it's important to remain organized. One of the most important steps once you find an award that interests you is to read the directions, qualifications, and fine print carefully. This may require that you put in some time in reviewing the requirements, but once you've completed an application or two you might find it will get easier. If you find yourself struggling with this portion of the process it may be time to ask for help. You can find assistance from your family, friends, school counselors or the professional grant writer who assisted you in the previous portion of this process.
Don't psych yourself out or let yourself get overwhelmed by all you need to do before you embark upon your post-secondary education. Start early and work diligently and it will pay off. And remember, you're not alone. Many students feel unprepared when they're starting the process, but will a little research, preparation, and assistance from those with experience, you could be on your way to an impressive financial aid package.
