Grants can help you return to finish your college degree.
If you are considering going back to finish your bachelor's degree after a break or if you want to get additional financial help for school, you may be wondering about your current student loans. Student loans will not stop you from qualifying for grants as long as you meet certain guidelines that are easy to maintain.
Federal Grants
To apply for federal grants you need to be current on your student loan payments. Student loans will go on deferment if you are currently enrolled in classes, so you will not need to continue making payments once you reenroll in school. You also need to make adequate progress towards your degree in order to qualify for a federal grant. Generally this means that you complete each semester and pass the majority of your classes. Apply for a federal grant by feeling out the Free Application for Federal Student Aid (FAFSA). Federal grants are need based, and you will be required to submit your current tax information, and your parents' information if you are single and under the age of 24.
Private Grants
Student loans will not affect your eligibility to apply for private grants for school. These grants may be for a specific research project or they may be for a specific area of study. The applications for these grants will vary. Generally you will need to write an essay explaining what the grant money will be used for and how it will affect not only your studies but also the field of study you are working in. In order to receive these grants your application will need to be well rounded and carefully written. These grants do not use income as a basis for qualifying, but may look at your grades and other criteria.
Finding Grants
It is easy to apply for federal grants through the FAFSA, but the biggest difficulty in apply for private grants is finding grants you are eligible for. Contact the financial aid office to see if there are any grants available specifically for students at your college, and to learn about the application process. Your departmental office may also list grants students in your field of study would qualify for. The grants can help fund research or semester projects that cost extra money. Additionally you can look online at a scholarship website to find additional grants you can apply for.
Apply for Several Grants
There are many applicants for each grant, which means you may not qualify for every grant you apply for. Apply for at least three or four grants and look for other ways to fund your education, such as scholarships and student loans.
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