Getting a college grant means free money — and who doesn’t love free money? It might sound too good to be true, but you can likely land a grant if you are in strong need of financial aid. If you don’t, you may qualify for other sources of free college money, including scholarships and loans.

Our guide begins by reviewing the various types of college grants and how much of your overall financial aid package grants are likely to be. Then, we’ll walk you through the application process.

Types of College Grants

You can receive grants from the federal government, your state and your college. Fill out the Free Application for Federal Student Aid each year you’re in school to be eligible for these awards.

Federal Grants

Pell Grant: This is the Department of Education’s largest federal grant program. In 2016-17, you can qualify for up to $5,815 in Pell Grant money. Of course, the actual amount you’ll receive depends on your financial need and the cost of attendance at your college. Unlike some grants, including the Federal Supplemental Education Opportunity Grant, you’ll get as much Pell Grant money as you qualify for, regardless of the other types of aid you receive.

Federal Supplemental Education Opportunity Grant: Also known as FSEOG, this campus-based aid program offers students between $100 and $4,000 per year. Each recipient’s grant depends on the school, financial need and other financial aid received. Not all schools participate in this program, so if you think you’ll qualify, ask the financial aid offices at the schools where you’re applying if they do.

Teacher Education Assistance for College and Higher Education Grant: The TEACH Grant is — as you might guess — a need-based grant program for students pursuing degrees in education. You can get up to $4,000 a year through this program, but there’s a catch: To maintain your TEACH Grant, you have to work in a high-need field or at a low-income school for at least four years in an eight-year period after graduation. If you don’t, the grant turns into a direct unsubsidized loan and you have to pay it back. And because the loan is unsubsidized, it includes interest accumulated while you were in school.

The Iraq and Afghanistan Service Grant: You’ll qualify for this program if one or both of your parents or guardians died while serving in Iraq or Afghanistan after Sept. 11, 2001; you were younger than 24 when they died; and you have a financial need. If you qualify, you can receive up to $5,815 for the 2016-17 school year, depending on your financial need and the total cost of attendance at your college.

State Grants

Many states offer college grant programs for state residents. This tool on the Department of Education’s website can help you find the agency that distributes each state’s grants. To be eligible, most states require that you fill out the Free Application for Federal Student Aid (FAFSA). Some — including Pennsylvania, New Jersey and New York — have a separate grant application in addition to the FAFSA.

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How Much Can They Help?

Grants only cover about 13% of the average student’s total college costs, according to the 2015 Sallie Mae report “How America Pays for College.” However, grants cover about 20% of college costs for the average student whose family’s income is less than $35,000 a year, around 17% for the average black student, and 16% for the average Hispanic student, according to the report.

How to Apply For Grants

  • If you haven’t already, complete the FAFSA to apply for federal grants and other aid, including work-study programs and federal loans. Fill it out as soon as possible, because some schools award aid on a first-come, first-served basis.
  • Search for private grants and scholarships using an online Grant finder tool. Remember, grants are sometimes mixed in with scholarships.
  • Review your financial aid award letter from each school you’re considering. Each letter will list the grants, scholarships, work-study programs and loans you’re eligible for. Accept all the grants and scholarships you’re offered before taking out any student loans.