3 Amazing Education Grants That Can Help You Save Money

Student debt is wreaking financial havoc on previous college attendees. Reports show that the collective student debt of U.S. students totals over $1.6 trillion. Is there a way around living so far beyond our means while still equipping people to advance their education?

Education grants are available to students who fit performance criteria and express a financial need in order to attend post-secondary institutions. If you are wanting to get your degree without piling on more debt, see if you’re eligible to apply for these grants!

1. SMART Grant

The acronym for SMART Grants stands for National Science and Mathematics Access to Retain Talent. It is an incentive for students to study STEM subjects during their time in college.

If you took rigorous science and math courses and high school, you may be eligible to receive this grant during your first 2 years of your undergraduate program. You’re able to earn more as you continue your schooling, and there are major and GPA requirements to qualify you as a continued recipient of this grant. By your 4th year in your undergrad, you can receive $4,000 to put toward your school expenses.

2. Federal Pell Grant

The Pell Grant is available to undergraduate students that wouldn’t otherwise be able to afford higher education for financial reasons. In order to be eligible, you simply have to fill out your FAFSA form annually.

The amount offered changes every year, but it can cover a significant portion of tuition for students with partial scholarships. For the 2020-2021 school year, the maximum amount received was $6,345.

3. TEACH Grant

If you are wanting to pursue a career in education, be sure to look into applying for a TEACH Grant to help you better afford your undergraduate degree. Students must maintain their GPA and study at a school that participates in the TEACH Grant Program in order to qualify for this assistance.

You can obtain up to $4,000 annually in financial aid for tuition with this grant. As a result of gaining this assistance through the program, you agree to teach in a low-income school or a high-need field for a designated period of time after graduation.