Scholarships are given out for numerous reasons, but one of the largest reasons is how badly you need the money.
The biggest need-based grant or scholarship is the Federal Pell Grant. Unlike federal loans, there’s no need to pay the money back. After the money is distributed to the school there’s not a reason for you to pay anything back to the government to replace the grant. It’s important not to confuse the Pell Grant with student loans. Student loans are required to be paid back, but grants are money given to you without the expectation to repay them.
Usually, the Federal Pell Grant will go to students in need. Those with a high expected family contribution will be ineligible for the Federal Pell Grant. Also, the grant can only go to undergraduate students who don’t have a degree already. Additionally, it is not possible to receive the Pell Grant if there is criminal activity, such as being incarcerated or having an involuntary civil commitment after completing incarceration.
If you fit the criteria to receive the Pell Grant, there is a maximum of $5,815 to get during the 2016-2017 school year. This is not the guaranteed grant, however. The government will look at the Free Application for Federal Student Aid. From there, they will look at the financial need and cost of attendance at the school you hope to go do. After this, they will see if you are … Read the rest...