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School Funding Explained

School grants and institutional scholarships

Grants and scholarships are often grouped together, but they come from different places and follow different rules. Here is how to tell them apart.

College grants

Grants are usually awarded based on financial need. Some are funded by federal or state programs and some by the school itself. Requirements and amounts are set by the organization that funds the grant.

State education aid

Many states run their own grant and scholarship programs for residents. Rules often depend on residency, the type of school, and enrollment status. Check your state's state aid agency website for current details.

Institutional scholarships

Schools may offer scholarships for academics, talents, or specific fields of study. Some are automatic and some require a separate application. Ask each school how its scholarships are awarded.

Researching safely

Legitimate programs generally do not charge fees to apply. Be cautious of any offer that guarantees an award or asks for payment up front.

  • Verify a program on the organization's own website.
  • Never share account passwords to apply for aid.
  • Keep copies of everything you submit.
Understand Tuition Assistance