Which federal grants have to be paid back?

Question

I am a 39 year old female killing myself just to get by. I am getting ready to go back to college and do the whole grant thing. Which grants do you have to repay, like stafford, pell E.T.C

Answer 1

Grants by definition do not need to be repaid. Commonly found federal grants include the Pell Grants, the Supplemental Educational Opportunity Grant (SEOG), the Academic Competitiveness Grant (ACG), and the SMART Grant. State agencies also offer grants (often named for the state itself, like the Cal [California] Grant or Mass [Massachusetts] Grant). It is safe to assume, when you hear the word "grant," that the money is gift aid (i.e. free).

Conversely, it is safe to assume, when you hear the word "loan," that the money must be repaid (usually with interest). By definition, a loan is something you must give back. Federal loans include Stafford, Perkins, and PLUS. Some state agencies also offer loans and reasonable interest rates. Finally, plenty of non-government entities (lenders and other private organizations) also offer loans. Some private loans you might have heard of include the Signature Loan (offered by Sallie Mae) or the TERI loan. There are dozens of others.

Answer 2

Grants do not have to be paid back, loans do. Stafford and Perkins are common loans. Pell is a federal grant. The grants are difficult to get and will not cover all of your expenses. Most people have to do a combination of both.

Answer 3

Stafford monies are LOANS and Pells are GRANTS.

Grants are just that -- granted and without need of repayment

Loans are just that -- loans that have to be repaid as soon as you are not enrolled full-time. Usually the term is 10 years and the interest is low.

Go to the FAFSA site and read about the different types of funding sources or go to your school and seek out the financial aid office.

Good luck. I went to school in my mid-40s and now that I have been out for 5 years, I don't regret a penny that I paid (although a pretty penny it was!)

Answer 4

grants are grants. they are not loans. You don't have to pay back any grants.