Grants are a type of student aid awarded by the government that does not have to be repaid. Grants are based upon financial need, based on calculations by the federal aid program. The money comes from federal funds, universities and private institutions for students with economic needs.
There are a few things to be aware of when expecting a grant. First off, funds available for grants are limited and in most cases, they do not fully fund educational expenses. If a student plans on attending a community college where the tuition rates are lower, there's a better chance that a grant will cover a greater percentage of the tuition and fees. The second thing to be aware of is that when the government agency or school performs the need analysis, the expected contribution of the parent is usually higher than what it is in reality for most families. The expected contribution weighs heavily on the amount available to the student for grants.
Another significant factor to consider is dependent child status. If a parent or guardian claims the student as a dependent on income tax returns, this has an effect on the amount of financial aid given to the student. As far as the tax law goes, a student who is a dependent will receive more financial aid awards.
You can get an application from a high school or post-secondary institution or through a student financial assistance office of your province or territory of permanent residence, i.e. the province or territory where you have most recently lived for at least 12 consecutive months. All provinces and territories now offer online applications.
The rest is easy! Just fill out the application and send it, along with any documentation required, to your province or territory of permanent residence.
To calculate how much money you will receive in government student grants, take a look at the student financial assistance estimator to calculate how much you are eligible to receive.
It takes approximately four to six weeks for an application to be assessed. Online applications are processed faster.