Applying for Merit-Based Grants
The process of applying for merit based grants is not all that difficult, though it is a process you should pay attention to and follow down to the smallest detail. As a current or future college student, every single penny you can save is well worth the effort, don’t you think? After all, the less debt you have, the better. There’s really nothing worse than starting out your life after college with a huge amount of debt and no way to pay it back.
So without further delay, let’s talk about the ways in which you can get some serious financial aid money for your college education by means of a merit based grant.
Step One: Fill Out the FAFSA
This is probably the first step you should take before applying to any financial aid type. If you want to be considered for need-based grants, merit-based grants, college-funded scholarships and student loans, you should fill out the FAFSA. So, anyone that can’t afford to pay their entire college tuition out of pocket needs to complete this step!
You can fill out the FAFSA by visiting the official website, http://www.fafsa.edu.gov. You can file either electronically or by means of mailing in the paper form. However, most people file electronically these days because it’s both easier and you receive a response much faster. The FAFSA compiles information about you, which is then used as a guide for your qualification status for various forms of financial aid. So, if you meet the income restrictions, then you’ll be put into consideration for a merit-based grant.
Step Two: Get Your Student Aid Report
Once you’ve submitted the FAFSA, you should receive your Student Aid Report or SAR within a few weeks. The SAR tells you the amount of money you and your family is expected to contribute out of pocket for your college tuition expenses. If you are expected to only pay a little bit of your college expenses, then you will more than likely be considered for financial aid.
The importance of the FAFSA comes into play here as well. If your income was reported as quite low on the FAFSA, then you might qualify for a need-based grant such as The Federal Pell Grant. If these funds are sufficient, you may not even need to apply for a merit-based grant! It’s very important to complete things in order, see?
Step Three: Fill Out the State Grant Form
If after you receive your financial award letter from your school you still foresee having trouble paying for college, try your hand at getting a merit based grant. You can typically find the forms for merit-based grants on your particular state’s website. For instance, in California, the grant system is called CalGrant and you can find it at http://www.csac.ca.gov/doc.asp?ID=20.
The bulk of the merit-based grant application process involves sending in some sort of GPA verification form to your state’s student aid commission. If they find that your GPA is high enough, you then qualify for the grant. It’s really that simple. Of course, read the directions for your state’s grant application very carefully and make sure you submit all information and forms on time. Submitting your application late is a sure fire way to take yourself out of the running for a merit-based grant. And if you are having trouble affording college, you certainly can’t afford to miss out on financial aid opportunities that do not require you to pay the money you receive back!
You should always take advantage of every financial aid opportunity that comes your way.