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Private College Grants

admin — Sun, 07 Feb 2010 14:22:02 +0000

Private College Grants

Unlike a private loan, private college grants do not need to be repaid. Private grants are simply a form of financial aid that comes from private non-profit sources as opposed to the government. (For-profit sources issue scholarships, not grants. Beyond this distinction, there are no real differences between private college grants and scholarships.) The sources of private college grants include universities, social clubs, scholarship organizations, and more.

About half of all undergraduates are given grants, according to the National Center for Education Statistics, and the average total amount hovered at about $4,000 in 2006. With the cost of a private university education exceeding $20,000 per year in many areas, students should apply for as many grants as possible. Grant money is tax exempt, so there are no negative financial ramifications for the recipient.

Sources of Private College Grants

While many grants are need-based, meaning that applicants would have to demonstrate a financial hardship, quite a few grants are merit-based. Students with exceptionally high grades, excellent leadership skills, or even a unique talent can seek out grant sources. Some grant organizations also offer funds based on an applicant’s ethnic or cultural background, including the United Negro College Fund and the Congressional Hispanic Caucus Institute.

Many grants are renewable, meaning that an applicant can continue to receive additional funding for each year of college attended. However, these private college grants will usually require the applicant to meet basic criteria before a renewal is approved. For example, maintaining a certain GPA or participating in a set number of volunteer hours may be required.

Hispanic College Grants

admin — Sun, 07 Feb 2010 14:18:25 +0000

Hispanic College Grants

People of Hispanic descent make up the biggest minority group in the U.S. This group is also the youngest. However, according to the Congressional Hispanic Caucus Institute (CHCI) in 2006, more than 87 percent of Hispanics did not have bachelor’s degrees. This poor number is due in part to financial hardship. Hispanic college grants can help more Latinos attend (and graduate from) the universities they desire.

One major source of Hispanic college grants comes from the CHCI itself. This organization, founded in 1978, focuses on encouraging Hispanics to take leadership roles in the government and the community. Therefore, CHCI college grants are meant for students who have a history of getting involved in public service–and who wish to continue to do so in the future. There are no requirements as far as GPA or majors.

More Facts About Hispanic College Grants

To be eligible for a CHCI college grant, the student must be accepted into a four-year college, a community college, or a graduate or professional program. They must meet financial need guidelines and display strong writing skills. Also, eligible candidates must be U.S. citizens or legal (permanent) residents.

Hispanic students are far more likely to be attending college part-time (or attending community college) than any other ethnic group. Fortunately, several organizations have stepped up to the plate to offer Hispanic college grants, including need-based and merit-based grants. Interested students can explore grants offered by the federal government, private organizations, and other entities.

African American College Grants

admin — Sun, 07 Feb 2010 14:07:11 +0000

African American College Grants

According to the Journal of Black in Higher Education, in 1984, just 20.3 percent of all 18- to 24-year-old African Americans were enrolled in higher education. In 2004, that percentage had risen to 31.8 percent. While the number of college attendees has risen substantially in 20 years, many African American students are unable to complete their educations because they don’t have the money to pay for college. Several government and private organizations offer African American college grants–financial aid that, unlike loans, do not have to be repaid.

When contemplating African American college grants, the first name that comes to mind is typically the United Negro College Fund and its famous slogan, “A Mind Is a Terrible Thing to Waste.” The UNCF Scholarships and Grants Administration office has given out more than $105 million in grants since 1985 and has benefited more than 28,000 students. These grants cover more than just tuition–they fund books, fees, room and board, and more.

Find Additional African American College Grants

Many of these grants require that students attend colleges or universities that are members of UNCF. UNCF typically provides money to these schools to help them keep costs low. Many of them can be renewed each year and require that recipients maintain high GPAs.

Another major source of African American college grants is the Ron Brown Scholarship Program. This program awards grants to motivated African American high school seniors who demonstrate academic excellence. As of 2006, a minimum of 10 African American high school seniors each year were honored with a grant of $10,000 a year for four years.