| Grants are a type of student aid that is awarded | | | | second thing to be aware of is that when the |
| by the government. Grants for college students | | | | need analysis is done by the government or |
| do not have to be repaid.Grants are based upon | | | | school, the expected contribution of the parent is |
| financial need, as calculated by the federal aid | | | | usually higher than in reality what is possible for |
| program. The first step in applying for | | | | most families. This expected contribution effects |
| government grants is by completing the | | | | the amount available to the student for |
| FAFSA.Of course every student and parent would | | | | grants.Another significant factor is that if the |
| rather receive grants instead of loans, since they | | | | parent or guardian claims the student as a |
| do not have to be repaid. So the student hopes | | | | dependent on income tax returns, this effects the |
| to see a grant award when the results are | | | | amount of aid available to the student. In general, |
| returned from the application.There are a few | | | | a student who is 'independent' of the parents as |
| things to be aware of, however, when expecting | | | | far as the tax law goes, will receive more in |
| a grant. The funds available for grants are limited, | | | | financial aid awards.First year students may find |
| therefore the grant will not usually fully fund | | | | that they receive less grant awards than they do |
| educational expenses. If the student is planning on | | | | in subsequent college years.Michael Carter is a |
| attending a community college where tuition rates | | | | contributor at College Financial Aid Guide, an online |
| are lower, it is possible that grants will cover a | | | | informational resource for educational funding, |
| greater percentage of the tuition and fees.The | | | | scholarships and student loans. |