How to find out about free grant money If you're planning on going to college in the near future, you probably know that tuition and fees are expensive, and they're not getting any cheaper. When paying for college, you have a number of options. While loans are one route to take, many students don't like the idea of being riddled with student loans for years to come after graduation. One option for paying for college is free grant money. Unlike a student loan, a grant is considered a gift you don't have to pay back. These can be difficult to obtain, however, since they are mostly based on need and a first-come, first-serve basis. When it comes to grant money, it's important to begin learning about it early. The earlier you apply, the better your chances of getting the money. Qualifying for grant money Before you start applying for grants, it's important to make sure you qualify for them. There are several different types of grants, and each has different eligibility requirements: Federal Pell Grants. These grants are based on need and have certain family income requirements, depending on your college's federally approved guidelines. Colleges only get a certain amount of Pell money each year from the government, so applying early can increase your chances (the earliest one can apply is January 1). Federal Supplemental Education Opportunity Grants. These grants are similar to Pell Grants and range from $100 to $4,000. Unlike Pell Grants, which are first-come first-serve, these grants