Do Grant Providers Look At Bank Statements?

Question

I'm planning on applying for a few grants to help fund my tuition for college. My question is, do the grant providers look and determine your acceptance by the size of your bank statement? I have some saved up money in my accounts, but I'm planning to use it for living expenses (appartment, car, food, etc.). Will the providers reject my application due to my money saved up?

Answer 1

It depends on what types of grants you are applying for. Sadly if you are speaking for the FAFSA... to try and be eligible for the Federal Pell Grant, then yes, they do look at how much you have saved. Yes, it does not make sense, since you are being somewhat punished for having money saved, but it is supposed to make things fair for people who haven't saved. The FAFSA (www.fafsa.ed.gov) asks you how much money you and your parents have in their savings accounts. But it is still definitely worth a try since it is a free application for financial aid.