Scholarships and grants are often the first source of funding that college students seek out to assist them in paying college tuition costs. Many low income college students are often reliant upon Federal Pell Grants or scholarships in order to help them meet the rising costs of attending a university or college, as many college students are unable to meet these tuition and fee costs out-of-pocket.
There are a wide variety of scholarships available to students who may have a low income or come from a low income family, so these options can be one way in which students can afford the cost of college tuition. Scholarships are typically given based on one’s academic merit but may also be granted to those who are attending a college or university to pursue a specific degree or career. While there may also be scholarships available at local, state, or federal levels, the requirements for specific scholarships will differ.
Yet, low income students may find certain scholarships to help them afford the majority of or all of their college costs. There are also options like federal Pell grants that are available to help students with a low income. Federal Pell grants can be used to pay college tuition costs and fees, and are often given to cover the majority or entirety of one’s college career costs. Like scholarships, Federal Pell Grants do not have to be repaid and can be tailored for specific career paths, so this is another option which many students have been using to meet college costs.
While low income students may also benefit from student loans, many financial advisers and financial aid counselors often suggests that students seek out as much funding from scholarships and grants as they can before turning to college loans. There are types of loans, like federal student loans, they can be affordable for low income students who need supplemental financial aid to me college costs, but it will be better to graduate college with no debt at all.
Students may be able to find scholarship opportunities and forms for Pell grants both from high school financial aid offices and college financial aid counselors, but online offers and opportunities are available as well. Typically, for Pell Grants a student must complete a FAFSA form or consult Department of Education resources online. While not every student has been able to find funding from scholarships or grants, those who qualify often have difficulty sorting through the vast amounts of offers and opportunities they may have for free financial aid but a little time and effort may afford a student the ability to pay the entirety of their college costs without acquiring college debt or paying out of pocket.
Source: RWB Press