Why Grants are Considered a Desired Source of Financial Aid

There are many ways available for higher education students to acquire financial aid, whether it is to attend their university or college of choice or to finance their research at the graduate level of study. One of the most beneficial forms of financial aid offered to students is grants. Grants are a non-repayable offer of financial aid given to a recipient for a certain purpose. In the case of the prospective college/university student, this will be for educational, research and/or career-building purposes. There are two different grant types available: private or government. Grants are awarded to a recipient depending on their chosen career field, academic achievement, demographic designation or research goals. Normally, grants are awarded to recipients by educational institutions, a government entity, or a non-profit organization. When a student is chosen to receive a grant, the educational institution, government entity or non-profit organization will look at the student’s record, goals and background information as recommended by the university, other reference or through individual initiative. Grants can either pay for partial or 100% of his or her financial needs, which is why most students wish to be awarded one.

Grants

The reasons why a prospective student is awarded a grant will vary according to level of education and purpose. For example, if the student is applying to get into an undergraduate program, he or she will be selected by the educational institution and/or the government based on his or her academic merits in high school, major, and career of choice. If a student is applying for a graduate program, the university might reward them a grant according to his or her needs. In addition, graduate students looking for financial aid for their research, especially if he or she is a doctoral candidate working on a dissertation, can apply for grants directly to non-profit organizations, domestic and international government related to his or her research, and career-related institutions like the American Political Science Association or the American Sociological Association. It is advisable to apply to more than one grant program because these research ones tend to be competitive and the award might not be great enough to fund 100% of the student’s needs.

No matter what kind of grant is awarded, at what level of education or reason, and/or how large the financial award may be, students can benefit from receiving a financial aid award that is non-repayable and will help them to achieve their academic and career goals.