What Are Gov't-Funded Scholarships for College Students?

As I'm preparing to apply for college, I'm curious about the government-funded scholarships available. What are the general requirements, and what type of financial assistance do they usually offer to students like me?

Several government-funded scholarships exist for college students, providing significant financial assistance based on different criteria, such as academic merit, financial need, or service commitment.

1. The Pell Grant: This is a need-based grant offered by the U.S. federal government. The exact amount can vary each academic year, but for the 2024-2025 year, the maximum award is $7,395. The grant amount is based on your family's financial need (determined using the SAI from your FAFSA), your cost of attendance, and whether you attend school full-time or part-time, amongst other factors.

2. Federal Supplemental Educational Opportunity Grant (FSEOG): This grant is for undergraduate students with exceptional financial need. Schools receive a certain amount of FSEOG funding each year, so it helps to apply early. The grant can range from $100 to $4,000 per year.

3. Teacher Education Assistance for College and Higher Education (TEACH) Grant: This grant offers up to $4,000 each year. In exchange, students must agree to teach a high-need field in a low-income area for at least four years after graduation. If the student doesn't fulfill this requirement, the grant converts into a Direct Unsubsidized Loan, with interest accrued from the date the grant was first disbursed.

4. Iraq and Afghanistan Service Grant (IASG): This grant is available to students whose parents died as a result of their military service after the events of 9/11. Students under 24 or enrolled at least part-time in college at the time of their parents' death are eligible. The grant amount is equal to the maximum Pell Grant for the academic year but cannot exceed the cost of attendance.

5. National and Community Service programs: Students who participate in programs like AmeriCorps, the Peace Corps, or the Army National Guard's G.I. Bill can earn education awards or stipends towards their college expenses.

Remember, to be considered for most federal scholarships or grants, students need to complete the Free Application for Federal Student Aid (FAFSA) each year, and meet other eligibility requirements such as maintaining satisfactory academic progress. The FAFSA opens on October 1st for the following academic year.