Click here for help. A grant is financial assistance provided for college that is not expected to be repaid. Most institutional grants are provided by the college to help make up the difference between college costs and what a family can be expected to contribute through income, savings, loans, and student earnings. Other institutional grants, known as merit awards or merit scholarships, are awarded on the basis of academic achievement.
Some grants come with special privileges or obligations.
You'll want to find out about the types of grants awarded by each college you are considering. Federal Pell Grants Pell grants are need-based awards for students with substantial financial need. Colleges distribute this money from the federal government to students with financial need. Eligible recipients must be enrolled in an undergraduate program at an accredited college or university. Each college has its own financial aid forms and deadlines.