The term cost reimbursement means the use of government funding to pay a student’s financial costs.
How is a cost reimbursement grant used? Cost reimbursement grants are used by schools to balance the budget and make budgeting easier. They help students make more informed choices about where to attend college, or about which majors to choose as they earn their degrees.
What are the different types of cost reimbursement grants? Cost reimbursement grants are used for:
Flexibility to spend more on the essentials
Flexibility to take off extra hours or take time off to care for a sick family member or family member’s loved one
Flexibility to take a class or internship that may be outside the school’s major as long as the student follows the rules
Flexibility to work with non-traditional organizations or employers
What about federal costs and how do they have an impact on whether or not a school will award a cost reimbursement grant? Federal rules vary between educational institutions, so it is important to contact the colleges, universities, and government agencies that administer federal program programs. They may have information you need to know. These organizations include:
The Higher Education Coordinating Council is a federal organization that is charged with coordinating federal programs for higher education. They answer questions about cost reimbursement grants and how they impact individual colleges and universities. Phone: 1-800-4-HECC (3286).
U.S. Department of Education
For costs associated with receiving federal funding, you may be able to obtain a cost reimbursement grant from the Higher Education Coordinating Council.
What are some questions that you should be asking the school to determine their eligibility? To learn more about federal eligibility of grant recipients, contact the Higher Education Coordinating Council, who answers questions about grant policies and how they can help you.
What do the costs and requirements for a cost reimbursement grant look like?
Cost reimbursement grants consist of two parts. The first part is your request. The second part is an award.
You will need to submit your grant application, including your fee and a proposed budget, with your application to determine if you are eligible, and, if not, what type of grant you will be eligible for.
What if you don’t get the grant you want? How can you use the grant? You have three options – take the free services to pay for fees, and find alternatives, or
find the money for an alternative and work on your plan. Cost reimbursement
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