Financial aid is a primary concern of the majority of graduating high school seniors preparing for college today. High school seniors, especially first-generation college prospects, typically need a substantial amount of funding to pay for their first year of college and beyond. While it is no surprise that college tuition and fees are expensive, the price tag for an undergraduate education has expanded across all sectors, maintaining a steady rise in recent years. Between 2011-12 and 2016-17, published tuition and fee prices rose by 9% in the public four-year sector, by 11% at public two-year colleges, and by 13% at private nonprofit four-year institutions, after adjusting for inflation. This can leave many students and their families reeling from the pressure not only of selecting the best school and program, but also seeking the funds to pay for a college education.
Data source: The College Board
This is where grants for high school seniors come in as a potentially ideal source of financial aid for eligible students because grants, like scholarships, are a form of college financial aid that do not have to be repaid. Grants for high school seniors are typically awarded for undergraduate programs, including not only associate and bachelor's degrees, but also vocational training.
Federal grants, such as the Pell Grant, are available to high school students whose family income may qualify them for need-based financial aid. Applying for federal grants by completing the FAFSA should be the first step for graduating high school seniors, especially those who are first-generation college students experiencing this process for the first time with their families.
While grants and scholarships are similar — almost interchangeable in some cases — grants for high school seniors are usually awarded based on financial need, while scholarships are awarded based on merit and/or academic performance. To apply for a grant, particularly federal grants, you will likely be required to submit documentation regarding your income and financial needs for college through the FAFSA application process.
Grants for high school students are also available from private organizations, corporations, and nonprofits, offering varying award amounts based on enrollment status, the source of the grant, unmet financial need, and type of program. Some grants are intended to cover a significant portion of overall tuition costs. Privately funded grants may also be need-based as well as contingent on subjects being studied, minority affiliation, or other requirements.
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Eligibility Requirements
Though grant eligibility requirements can vary considerably, most grants for high school seniors prioritize those who need financial aid to attend college. In the case of federal grants, all students must complete and file the Free Application for Federal Student Aid (FAFSA) to document their income status and financial needs. Some high school student grants are contingent upon additional requirements, such as part- or full-time enrollment or comitting to majoring in a particular field. The Part-time Grant from the Maryland Higher Education Commissions, for example, requires that applicants be Maryland residents, demonstrate financial need, and enroll in their college program part time.