Grant Opportunities for Higher Education Institutions and Students

Recent studies found that college students spend an average of over $99,000 over the course of earning a four-year degree. This includes the cost of tuition, room and board, and other basic living expenses. 

The cost of a college education is undoubtedly high in the US. As a result, many deserving and dedicated students are unable to pursue a college education or complete their degrees. Financial aid is a must in order to level the playing field and make higher education more accessible to all students.

If you're looking for financial aid to cover your college tuition, consider grant opportunities. Like scholarships, grants are considered "gift aid," meaning that you don't have to pay them back at a future date.

Ready to learn more about grant opportunities you can take advantage of? Read on for our complete guide to grant opportunities for students seeking higher education.

Grants vs. Scholarships: What's the Difference?

As we mentioned already, grants and scholarships fulfill similar roles. Unlike student loans, grants and scholarships don't need to be repaid after using them. Instead, they are considered gifts that cover specific costs outlined by the application parameters. 

Together, grants and scholarships cover an estimated 25% of American higher education costs. Many students may use a combination of grants, scholarships, and loans to afford college. It's useful to understand the difference between grants and scholarships. 

Student scholarships are typically awarded based on merit. This can include:

• -academic achievement
• -volunteer status
• -and athletic performance. 

Like grants, you can receive scholarships from a variety of sources. This includes charitable and private organizations.

Unlike grants, however, students often receive scholarships from their universities. For example, star athletes may receive a full scholarship in exchange for athletic participation.

Grants are awarded based on financial need. Some grants have broad requirements while others focus on marginalized demographics. We encourage students to look for grants from:

• -the federal government
• -their individual state government
• -local organizations
• -non-profit organizations
• -private organizations

Now, let's take a closer look at some of the grants available and how to find them.

Federal Grant Opportunities

The federal government awards millions of dollars of grant money to students every year. In order to find out if you qualify for a federal grant opportunity, start by filling out the Free Application for Federal Student Aid (aka FAFSA). By filling out this application, you can find out if you qualify for:

• -grants
• -federal student loans
• -scholarships
• -work-study programs

Now, let's take a look at the four grant opportunities available through the federal government.

Pell Grants

The Pell Grant is the federal government's largest grant program. The maximum amount awarded per student in the 2022-2023 school year is $6,895. The amount students receive reflects their financial need and cost of education, and is not affected by other grants or scholarships the students have already secured.

You may be eligible if you have demonstrable financial need and:

• -have not earned a bachelor's or graduate degree
• -are enrolled in a post-baccalaureate teaching certification program

If you have a parent who was killed in Iraq or Afghanistan post-9/11, you may be eligible for more than the maximum. 

Federal Supplemental Education Opportunity Grants

The FSEOG is an unusual federal grant opportunity. In order to receive this grant, you will have to attend a participating university. If you're not sure if your school participates, talk to your financial aid office.

The FSEOG is awarded in amounts between $100 and $4000. How much you receive will depend on your financial needs and your university's resources. Because the FSEOG is supplemental, students receiving a Pell Grant take priority. 

TEACH Grants

We have a demonstrable need for new and dedicated teachers in American public schools. It was from this need that the Teacher Education Assistance for College and Higher Education Grant was born. As you might expect, TEACH Grants are available to students pursuing degrees in education who also have financial needs.

Before you accept a TEACH Grant, make sure that you understand what it entails. You may receive up to $4000 a year through TEACH, but you must spend a minimum of four years after graduating teaching in:

• -a high-need field
• -a low-income school

If you fail to meet these requirements, the money you received through the TEACH program is treated like a loan. Not only will you have to pay back the amount you received, but you will also have to pay accumulated interest.

The Iraq and Afghanistan Service Grant

As we mentioned earlier, students who lost a military parent in the post-9/11 Iraq and Afghanistan wars may qualify for more Pell Grant money than others. However, if you do not qualify for a Pell Grant, you may qualify for the Iraq and Afghanistan Service Grant. Eligible students:

• had a parent or guardian who died while completing military service in Iraq or Afghanistan after 9/11
• do not qualify for a Pell Grant
• were younger than 24 or enrolled in a part-time higher education program when the parent or guardian died during service

The current maximum grant awarded per year is approximately $6000. Students cannot receive this grant for more than 12 semesters.

State Grant Opportunities

The federal government is not the only governmental agency that can provide grants for students with financial needs. Through the US Department of Education, you can find your state's contacts for financial aid. 

Most states will use your FAFSA application as a point of reference when awarding grant money. This means that you will need to fill out the FAFSA application each year to find out about state grant opportunities.

Some states, including Pennsylvania, New York, and New Jersey, have their own applications. Get in touch with your state's department of education (or department of higher education) to find out what you'll need to do in order to apply for state-funded grants. Eligibility requirements will vary from state to state.

Keep in mind that in order to qualify for a state grant, you may have to both live and attend school in the same state. If you are attending an out-of-state school, you may still meet residential requirements depending on how much of the year you spend in the state where you are applying for the grant. 

Private and Non-Profit Grant Opportunities

Government grants tend to focus on financial needs, alone. Many of them are not designed to support specific demographics or students with intersectional identities (i.e., low-income and Black or low-income and female). However, many private and non-profit organizations do. 

Examples of private and non-profit organizations that award grants include the:

• -Jeanette Rankin Foundation (financial aid for women over 35 who are enrolled in a vocational school)
• -Hispanic Heritage Foundation (financial aid for Latinx students)
• -Ron Brown Scholar Program (financial aid for Black high school seniors)
• -American Indian College Fund (financial aid for Native American students) 

If you are a member of a minority group, consider searching for grants offered to members of your community. Many of these grants will not prevent you from receiving Pell Grants or other forms of government-based financial aid.

At the Honor Society Foundation, we share the mission of supporting students who are pursuing higher education. Foundation members can receive hundreds or thousands of dollars in scholarships each year. We also provide resources for finding additional sources of financial aid, like this guide to grant opportunities. 

Local Grant Opportunities

Finally, you may find additional financial aid gifts from organizations within your own community. Many small businesses look for ways to give back to the community and uplift its members, and this can include grants and scholarships. 

If you are a member of a church, temple, or mosque, ask your religious leaders or administrators about possible financial support. Some religious institutions have funds set aside for this very purpose every year. Others may be willing to organize a fundraiser or collection to help you cover the cost of college education. 

Remember, the worst that your local businesses, charities, and institutions can do is say that they don't have any funding for you. Taking advantage of all possible financial aid can open new doors and allow you to complete your college degree.

Apply for Financial Aid

The cost of education in America is at an all-time and global high. While we have some of the most expensive universities in the world, we also have some of the best universities in the world. Everyone who wants to pursue a college education should get that opportunity, and grant opportunities can make it possible.

Do you have great academic performance and a desire for more financial aid? Get involved with Honor Society to become eligible for the many scholarship funds offered through the Honor Society Foundation.