Need-based Institutional Grants and Scholarships

Need-based grants are awarded as one component of a student's financial aid award package, to students who lack the financial resources to cover the cost of attending college. Regardless of the type of educational institution, an inverse correlation generally exists between family income and the grant amount you receive. The lower your family's income, the more institutional grant funds you're likely to receive from the awarding institution.

The amount of grant money available varies from institution to institution and between institutional types. The Instituion for Higher Education Policy reports that in 1995-96, the average need-based grant aid amounts from all sources were ususally highest at private four-year schools and lowest at public two year institutions. However, the grants tended to fund about the same proportion of student expenses, with 30 percent covered at public two-year institutions, 29 percent at private four-year colleges and universities and 27 percent at public four-year schools.

Many institutions also have need-based scholarship programs, often funded by alumni or local services organizations. Contact your school for information and a scholarship application.