Free money for college is available from a variety of sources and offered as scholarships and grants. Both are an attractive way to pay because you do not need to repay the money.

They are available from a variety of sources, including federal and state governments and private sources, such as employers, professional associations, and educational institutions.

Some grants and scholarships are based on financial need, others are awarded based on achievement, religious affiliation, ethnicity, memberships, hobbies, or special interests.

Scholarships (or "free money") are an attractive way to pay for college because you don't need to pay them back. Scholarship awards range from a few dollars to covering the full tuition bill.

Scholarships are offered by many organizations, including federal and state governments and private sources, such as:

Employers

Individuals

Companies

High schools and colleges

Religious groups

Professional associations

Scholarship eligibility

Academic performance

Athletic achievement

Financial need

Religious affiliation

Minority status

Heritage

Community affiliations

A unique set of criteria that's important to the organization providing funds

Searching for and getting scholarships
Your search for scholarships will succeed if you start early, stay focused, and search diligently. Remember to apply for scholarships every year you plan to attend college.

Get familiar with scholarship requirements.

Pick up some scholarship application tips.

Learn how to spot and avoid scholarship scams.

Get help with those scholarship essays.

Check out our featured scholarships.

Scholarship Timeline
Scholarship deadlines typically range between October and March of the year preceding the one for which scholarship funds will be needed. The best time to begin looking for scholarships is at least one year before you actually need the funding.

Federal Pell Grant

The Federal Pell Grant is the largest federal grant program and is based on financial need. To qualify, there is no minimum grade point average or other academic requirements, as along as you attend an eligible school. However; you could lose your funding if you do not maintain satisfactory academic progress as defined by your school. The maximum Federal Pell Grant award for the 2008-09 award year is $4,731.

The U.S. Department of Education determines your eligibility based on your answers on the Free Application for Federal Student Aid (FAFSA). Submit your FAFSA as soon after January 1 as possible.

If you receive a Pell Grant, your school will credit your college account with the grant amount, pay you directly, or both. The federal government guarantees that each participating school will receive enough funding to pay the Federal Pell Grants of all eligible students.

Eligible Students:

Student must be pursuing their first undergraduate degree.

Student must be U.S. Citizens or eligible non-citizens.

Student must have a high school diploma, GED, or demonstrate the ability to benefit from the program offered.

Ineligible Students:

Incarcerated students.

Students who owe a refund on a Title IV grant.

Students in default on a Title IV loan.

Males who have not registered with the Selective Service.

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Federal Supplemental Educational Opportunity Grant (FSEOG)

Schools distribute the need-based FSEOG to full-time and part-time students. Awards range from $100 to $4,000. Your college financial aid office will determine whether you’re eligible from your EFC as reported on your ISIR (the school’s version of your Student Aid Report).

If you qualify to receive a FSEOG, the school will credit your account, pay you directly, or both.

Eligibility:

Undergraduate students who have exceptional financial need (the lowest Expected Family Contribution) are eligible.

Federal Pell Grant recipients receive priority but are not guaranteed a FSEOG.

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ACG & National SMART Grant

To meet the growing need for improved math and science instruction, The Higher Education Reconciliation Act of 2005 created two new grant programs:

The ACG (Academic Competitiveness Grant)

National SMART Grant (National Science and Mathematics Access to Retain Talent)

These grants will encourage students to take more challenging courses in high school, making them not only more likely to be successful in college but also to pursue college majors in high demand such as science, mathematics, technology, engineering, and critical foreign language.

ACG Summary

An ACG will provide up to $750 for the first year of undergraduate study and up to $1,300 for the second year of undergraduate study to full-time students who are U.S. citizens, eligible for a Federal Pell Grant, and who had successfully completed a rigorous high school program, as determined by the state or local education agency and recognized by the Secretary of Education. Second year students must also have maintained a cumulative GPA of at least 3.0.

The program is available for the first time for the 2006-07 school year for first year students who graduated from high school after January 1, 2006 and for second year students who graduated from high school after January 1, 2005.

The ACG award is in addition to the student's Pell Grant award. Student must complete the FAFSA to apply for this grant.

Eligibility:

If you can answer yes to all of the following questions, you may potentially be eligible to receive an ACG:

Are you a U.S. citizen?
 

Did you graduate from high school after January 1, 2005?

Are you eligible to receive a Pell Grant?

Will you be enrolled as a full-time first or second year student in a two- or four-year degree program?

Award Amount:

$750 for the first year of undergraduate study

$1,300 for the second year of undergraduate study

National SMART Grant Summary

A National SMART Grant will provide up to $4,000 for each of the third and fourth years of undergraduate study to full-time students who are U.S. citizens, eligible for a Federal Pell Grant, and majoring in physical, life, or computer sciences, mathematics, technology, or engineering or in a foreign language determined critical to national security.

The student must also have maintained a cumulative GPA of at least 3.0 in coursework required for the major. The National SMART Grant award is in addition to the student's Pell Grant award. Students must complete the FAFSA to apply for this grant.

Eligibility:

To be eligible to receive a National SMART Grant, you must be able to answer yes to all of the following questions:

Are you a U.S. citizen?

Are you eligible to receive a Pell Grant?

Are you enrolled as a full-time third or fourth year student in a baccalaureate degree program?

Do you have a 3.0 cumulative grade point average?

Are you currently enrolled in an eligible major in one of the following categories: computer science, engineering, critical foreign languages, life sciences, mathematics, physical sciences, technology, or multi-disciplinary studies?

Award Amount:

$4,000 for the third of undergraduate study

$4,000 for the fourth year of undergraduate study

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Merit-based Programs
Additional merit-based government programs:

Leveraging Educational Assistance Partnership (LEAP), formerly known as State Student Incentive Grants (SSIG), is funded by individual states and the federal government. College financial aid advisors and high school counselors notify students if they qualify.

Robert C. Byrd Honors Scholarship Program is an award that recognizes and promotes student excellence and achievement. High school counselors have additional information.