If your career options have you headed to business school and you need a little extra help to pay for your education, consider looking for business school grants. A grant is money that you are given to pay for your education that you do not have to pay back. If this sounds like a great idea to you, you have two basic options to seek this type of funding, and those are grants from the school and grants from the federal government.
College grants from the federal government include programs like the Federal Pell Grantand the Federal Supplemental Education Opportunity Grant. The Pell Grant is available to US citizens who are pursuing their first bachelor’s or associate’s degree. It is based on financial need, and students with the greatest financial need will receive the greatest assistance. Students whose families make too much money will not qualify for this grant.
The Federal Supplemental Education Opportunity Grant is available to students with tremendous amounts of financial need. Like the Pell Grant, the amount of this school grant is awarded based on the amount of need the student has.
If you do not qualify for federal school grants, or if they are not enough to fill your amount of need, consider looking for a business school that has school grants available. These grants for college work in a similar fashion to the federal grants. They are sometimes offered based on need, but since they are offered by the schools themselves, there may be other qualifiers attached to these college grants, such as a specific major requirement or a GPA requirement. They may be called scholarships or fellowships instead of college grants, but they work on the same principle. These awards give you money that you do not have to pay back when you are done with business school. Unlike federal grants for school, the grants offered by the schools often are available for graduate work as well as undergraduate work.
The first step to apply for business school grants is to file the FAFSA, even if you do not think you qualify for federal aid. Do this early, as the grants offered by the schools may be on a first-come-first served basis. After filing the FAFSA, talk to the business school’s financial aid office to learn of any school grants the school offers. Remember, these programs are not going to be advertised, so you must make the effort to seek them.