Have you ever wondered if there are grants for education?
For the student, grant aid is the most desirable form of financial aid because it is awarded before the tuition bill has to be paid and does not have to be repaid. I have listed many resources at then end of this post to get you started.
Let’s Look at the Main Sources for Student Grants & Loans
The federal government and colleges and universities are the largest sources of grant aid, but states and employers and other private entities also provide significant amounts of grant aid.
Foundations as a Source of Funding for Education
An estimated 2% of all foundation grants are awarded to individuals. In most cases, foundation support for students is provided as grants to institutions of higher education and then awarded by the college or university as scholarships for their students. In addition to foundations there are other types of organizations or groups that provide scholarships. These funds are often limited and only made available to specific audiences.
10 Year Trend in Student Aid Shows Increase in Dollars
Over the past quarter century, federal student aid has migrated from a grant-based to a loan-based system.
This graph represents Student Aid and Nonfederal Loans per Full-Time Equivalent (FTE) Graduate Student Used to Finance Postsecondary Education Expenses in 2011 Dollars, 1990-91 to 2011-12.
As you can see from this illustration, total aid has increased significantly in constant dollars due to the growing reliance on loan programs.
For more information on trends in student aid visit: http://trends.collegeboard.org/home
Here are the Resources & Research Tools to Get You Started!
It takes dedication, research and organization to identify, seek and secure grant funding for education. There are many online sources for information on private funding for education. We recommend the following resources to help you in this endeavor:
- Foundation Center
Foundation Grants to Individuals Online is a unique subscription-based database. It includes information on more than 6,200 foundation programs that fund students, artists, researchers, and others. It is the only online source that covers all grants to individuals awarded by private foundations in the United States, and contains information on many small, local grant programs not covered in other books or databases. It includes details on many scholarships, fellowships and loans. It is available for free in all five Foundation Center libraries and at our Cooperating Collections at over 350 locations around the country. At a cost of $9.95 per month, it is also available to anyone with Internet access. View Tour Now
The Foundation Center’s web site also offers other valuable resources. Scholarship seekers will find the For Individual Grantseekers area the most helpful for your funding research. In this area, you will find a comprehensive resource list for scholarship seekers, entitled “Funding for Individuals: A Bibliography.” This includes both print publications and Internet resources. Or take their free course “Finding Foundation Support for Your Education” http://marketplace.foundationcenter.org/Finding-Foundation-Support-for-Your-Education
- CollegeBoard Scholarship Search http://www.collegeboard.com
- Grants for Individuals: Michigan State University http://www.lib.msu.edu/harris23/grants/3subject.htm
- Petersons.com Financing Education http://www.petersons.com
- SallieMae http://www.salliemae.com
- SuperCollege Scholarship Searchhttp://www.supercollege.com
TIP: If you are fortunate enough to be awarded a scholarship from a foundation, remember to send a short and simple thank you letter.
Did you take out student loans? Did you get scholarships or grants? Leave us a comment below and share your experiences!
By Jo Miller, GPC at J. Miller & Associates, Inc. , JM Grants
JM Grants – Helping you Get Grants & Do Good!