Monday, July 21, 2014

Federal and State Grants: Top Ways to Obtain Free Money for College

Parents who are preparing to send their children to college resort to different ways to finance their kids’ education. But while loans and other related conventional financing schemes dominate the funding sources, other programs such as federal and state grants, offer beneficiaries better terms for the much-needed free money for college. A brief description of grant sources is detailed here by Liz Weston in her article on MSN Money: Grants are a much better deal than loans, of course, because you don’t have to pay the money back. Grant money, however, is usually based largely on need and is often parceled out on a first-come, first-served basis. As college costs skyrocket, it’s important to apply early for financial aid and be aware of any available grants that might help lower your college costs.

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