The cost of a college education is skyrocketing. In fact, the price of four years at a state university is expected to grow at a rate of greater than 5% annually. Parents and students are searching for ways to make education more affordable by cutting costs and seeking all available forms of financial aid. The average student manages to reduce the bill by about 40% by taking advantage of financial aid programs. One of the most popular types of student financial aid is the student grant or educational grant.Educational grants do not have to be repaid. There are two kinds of federal student grant programs: Pell Grants, occasionally called Basic Educational Opportunity Grants, which are need based, and Federal Supplemental Opportunity Grants (FSEOG), which are based on extraordinary need. The federal government has determined a formula which yields a number called an EFC, or Expected Family Contribution. This number is used to determine eligibility for both varieties of grants and the amount of grant money to be dispersed.A Pell Grant is a primary source of financial aid, and students receiving them may be considered for other federal and non federal assistance […]

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