Understanding scholarships and grants for college

What's the difference between scholarships and grants for college? Also, are there any particular grants that a junior in high school should be aware of when it comes to college applications?

Both scholarships and grants are types of financial aid that don't need to be repaid, making them valuable avenues for helping to pay for college. They do, however, have some differences.

Scholarships are usually merit-based, meaning they are provided to students who demonstrate high academic, athletic, or artistic achievements, among other factors. They can be offered by colleges directly but are also available from a variety of external entities such as private companies and organizations. A student might earn a scholarship for excellence in their studies or notable service in their community, for instance.

Grants, on the other hand, are typically need-based and are often issued by federal and state government agencies, though colleges also provide them. They are primarily intended to help students who may not be able to afford the cost of college. The most well-known is the Federal Pell Grant, which is awarded to undergraduate students demonstrating strong financial need. Your eligibility is determined when you fill out the Free Application for Federal Student Aid (FAFSA).

As a high school junior, it's essential to be aware of grant programs like the Pell Grant. In addition, other grants to consider include the Federal Supplemental Educational Opportunity Grant (FSEOG), the Teacher Education Assistance for College and Higher Education (TEACH) Grant, and state-specific grants – the details of which would vary depending on your location.

Bear in mind, every scholarship and grant has its own set of criteria and eligibility requirements, which may include maintaining a certain GPA, pursuing a particular field of study, or submitting essays or other materials with your application. It is therefore crucial to be vigilant in identifying the opportunities that are the best fit for you, and diligent in understanding all the requirements upfront.