Looking for ways to pay for college? Similarly to scholarships, forms of financial aid like grants and fellowships also typically don't need to be repaid. We share what you need to know about applying for grants and fellowships!

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What is a grant? What are the benefits of grants?

Grants are a form of financial aid that do not need to be repaid. Grants are most often awarded by the federal government, state/local governments, schools, or private organizations. Grants are often awarded based on specific criteria such as income status, demographics, or even areas of study or interest. A popular example of a grant is the Pell Grant, which eligible students can receive after completing the FAFSA.

Overwhelmingly, grants are awarded based on need, as opposed to some scholarships, which may be based on academic or athletic achievement. The biggest benefit of grants is that they tend to be more flexible than most other forms of financial aid.

How can I find and apply for grants?

The first step to receiving financial aid is to complete your FAFSA or state-based aid forms. If you're completing the FAFSA, you will receive your Student Aid Index (SAI), which will be key to learning your eligibility for federal grants. Find a breakdown of different federal grants here.

Be sure to also research what types of grants your state offers. Every state in the U.S. has some type of grant or student aid program–we recommend checking out the Department of Education and The College Investor’s lists to start your search. Finally, be sure to research the website of the specific schools or programs you're interested in, since they may have more specific information for new students. Here are some examples of current grant opportunities:

• Apply for a TEACH Grant if you plan to become a teacher.
• Apply for a FSEOG (Federal Supplemental Educational Opportunity Grant) through your college once accepted. This grant is designed to help students with the most financial need entering college.
• Apply to the UNCF for a grant if you’re planning on attending a Historically Black College or University (HBCU).

What is a fellowship? What are the benefits of fellowships?

A fellowship is a short-term program that usually lasts a few months, but sometimes can last over a year. Fellowship programs are often for students who are more advanced in their studies or have a speciality in mind for postgraduate studies or their career. A fellowship is centered around the professional development of each “fellow” and is usually sponsored by a school or specific department within the school. This may include increased responsibility, but also more one-on-one development, a stipend, and sometimes even health insurance.

How can I find and apply for fellowships?

If you are already enrolled in college or a specific educational program, research your institution to see if they offer any types of fellowships. GoGrad and CareerOneStop also have great databases to begin your search! Here are a few examples of current fellowship opportunities:

• Join The Climate Corps as a Climate Fellow to become an outdoor educator and launch your career in sustainability.
• Apply for a fellowship with Second Day and get work experience in the social impact industry which may include education, nonprofits, and healthcare!

Have any questions about applying for grants or fellowships? Text #College to 33-55-77 to chat with one of our advisors. If you're using a mobile device, click here to have the text message set up for you!