Federal grants can give your graduate school education a boost without you having to take out any loans- and they’re easy to get! Read on to learn what federal grants are available for graduate school, and how you can go about applying for them.
What are the best federal grants for graduate school?
There are a number of federal grants available to help cover the cost of graduate school. Here are some of the finest options:
– The Federal Pell Grant is awarded to low-income students and can be used for any type of educational expenses.
– The Federal Supplemental Educational Opportunity Grant is awarded to students with exceptional financial needs.
– The Iraq and Afghanistan Service Grant is available to students whose parent or guardian died as a result of their service in Iraq or Afghanistan.
– The TEACH Grant provides up to $4,000 per year for students who agree to teach in a high-need field for at least four years after graduation.
These are just a few of the federal grants available for graduate students. Be sure to research all of your options in order to find the best possible funding for your education.
Types of federal grants
There are four main types of federal grants available to graduate students:
1. Federal Pell Grants: Pell Grants are need-based grants awarded to undergraduate and certain postbaccalaureate students with demonstrated financial need.
2. Federal Supplemental Educational Opportunity Grants (FSEOGs): FSEOGs are awarded to undergraduates with exceptional financial needs. The maximum award for the 2017-2018 academic year is $4,000.
3. Federal Perkins Loans: Perkins Loans are low-interest loans available to undergraduate and graduate students with exceptional financial needs. The maximum award for the 2017-2018 academic year is $8,000.
4. Federal Direct PLUS Loans: PLUS Loans are loans available to graduate and professional students as well as parents of dependent undergraduate students. The maximum award for the 2017-2018 academic year is the cost of attendance minus any other financial aid received.
Pros and cons of a federal grant
There are a few things to consider when thinking about whether or not to apply for a federal grant for graduate school. The first is that grants are typically need-based, meaning you will have to demonstrate financial need in order to qualify. This can be a challenge if you have high levels of student debt or other obligations. However, if you do qualify for a grant, it can be a great way to finance your education without having to take out loans. Grants also tend to be more generous than loans, so you may receive more money overall.
Another thing to consider is that federal grants usually have more restrictions attached to them than loans. For example, you may be required to work in a certain field or geographic area after graduation in order to repay the grant. So if you’re not sure what you want to do after graduation, a loan might be a better option.
Ultimately, the decision of whether or not to apply for a federal grant for graduate school comes down to your individual financial situation and career goals. If you think you might qualify for a grant and are willing to meet any associated requirements, it’s definitely worth applying!
What is the procedure to apply for a federal grant?
There are many federal grants available for graduate school, but the process for applying for them can vary depending on the grant. Generally, you will need to fill out an online application and submit any required supporting documentation. Once your application is complete, it will be reviewed by a committee that will make a decision on whether or not you will receive the grant.
Alternatives to applying for a federal grant
There are a number of alternative funding options available to graduate students that can be used in lieu of or in addition to applying for a federal grant. Some of these include:
– Applying for scholarships: There are numerous scholarships available to graduate students, many of which are offered by private organizations and foundations.
– Taking out loans: Both federal and private loans are available to help cover the cost of tuition and other expenses associated with attending graduate school.
– Working part-time or full-time: Many students choose to work while attending grad school in order to help offset the cost of their education.
– Utilizing grants and fellowships from your school or department: Many schools and departments offer grants and fellowships that can be used to cover tuition and other expenses related to attending graduate school.
Conclusion
There are a number of federal grants available to help fund your graduate school education. The best federal grant for you will depend on your individual circumstances and financial need. Be sure to research all of the options available to you before making a decision. With careful planning and execution, you can use federal grants to help pay for your graduate school education and achieve your academic goals.