What types of grants are available for college?
Financial aid for college can consist of loans, grants, scholarships, and work study. Grants and scholarships are preferable because they don't have to be repaid. There are three sources for grant aid: colleges, the federal government, and state higher-education agencies. College grants may be either need-based or merit-based, and they can range from a few thousand dollars up to the full cost of education. Federal and state grants are based on financial need and are much lower.