Aid for College Students
To help get you on the right track, you should first consult with
your college or university’s financial aid office. Schedule an
appointment and they will help you find the money you need. You will, of
course, need to do plenty of work on your own, as well.
Also be sure to file a Free
Application for Federal Student Aid (FAFSA). This will enable you to
receive any federal loans or grants which you may be eligible for.
Types of Aid for College Students
- Scholarships and fellowships
Over millions of scholarships are awarded each year. There are
scholarships based on athletic ability, academic merit, disability,
race, nationality, religious affiliation, relation to a cancer
victim, location, and more. With a little bit of research and
patience, everyone should be able to find a pretty big list of
eligible scholarships to apply for. Just be sure to watch out for
- State Financial
Maryland Higher Education Commission (MHEC) awards a variety of
grants and scholarships to students that are Maryland residents.
These awards are based on merit and/or financial need and are in
addition to aid awarded by the institution. Students who wish to be
considered for state aid must submit the FAFSA by March 1 each year.
For a full list of programs, deadlines, separate application and
eligibility requirements please visit their website www.mhec.maryland.gov.
Federal Pell Grant
Grant is a federal assistance grant that is awarded to
students who have not already earned a bachelor’s degree. Awards can
be up to $5,815 for the award year, with up to 12 semesters of aid
Federal Supplement Educational Opportunity Grant (FSEOG)
Like the Pell Grant, the FSEOG is
available to students with exceptional financial need who have not
already earned a bachelor’s degree. Awards range from $100 to $4,000
per year and are given on a first come, first served basis.
- Federal Loans
For students that are offered loans as part of the school's
financial aid offer, you must remember that a loan is money that you
have to pay back with interest.
If you select this option,
you must understand who is making the loan in addition to the terms
and conditions of the loan. Student loans can come from the
federal government or from private sources such as a bank or
financial institution. Loans made by the federal government, called
federal student loans, usually offer borrowers lower interest rates
and have more flexible repayment options than loans from banks or
other private sources.
Education Assistance for College and Higher Education (TEACH) Grant
For students who plan to become teachers, theTEACH Grant
can provide up to $4,000 per year. Students who earn this type of
grant will sign an agreement to serve as a teacher in certain
high-need fields or in low-income areas for at least four complete
Iraq and Afghanistan Service Grants
Students who have lost a parent or guardian as a result of
military service in Iraq or Afghanistan may be eligible for this
federal grant. To be eligible, students must not be eligible for a
Federal Pell Grant based on Expected Family Contribution, but must
meet the remaining Pell Grant eligibility requirements. Further, the
student must have been either under 24 years of age or enrolled in
college at the time of their parent or guardian’s death in military
service performed in Iraq or Afghanistan after the events of 9/11.
Students may also find information on related State awards to
- Institutional grants
your university’s financial aid office to request information on any
institutional grants that they may offer. These grants are typically
merit-based and will help to cover the costs of education not
covered by any federal assistance money.