Federal Grant Money

Free college grants are for students who want to go to college so in the future they can earn lots of money but they don’t have lots of money to be able to go to college. Quite an irony! But that is basically the requirement to receive free college grants. Free college grants is a serious business in the U.S. U.S. department of Education provides more than $67 billion in loans, free college grants and campus-based aid every year to millions of students.

Federal Pell Grants is one example of free college grants. This free college grants unlike loans do not need to be paid back. Eligibility for this free college grants is based on financial need. Amount in free college grants provided by Pell Grants change yearly depending on Congress. In the year 2000-01 school year, for instance, free

college grants under Pell grants reached a maximum of $3,300.00. The amount of free college grants provided by Pell will also depend on costs to attend school, student’s status whether part-time or full time and the student’s desire to pursue a full academic year or less.

Another free college grants’ program is campus-based aid programs. In this program, free college grants can be availed from Federal Supplemental Educationla Opportunity Grant (FSEOG), Federal Work-Study (FWS) and Federal Perkins Loans programs. Free financial grants can be administered directly by the financial aid office at each school. Federal funds for free college grants for these programs are given to the schools and distributed to the students upon the school’s judgment.

To be eligible for these free college grants, one must:

* has qualified financial need

* have a high school diploma or General Education Development (GED) certificate or pass an equivalent test approved by U.S. Department of Education

* be working to attain a degree or certificate

* be enrolled in an eligible program

* be U.S. citizen or qualified non-citizen

* have