Federal Grants

• One of the most common ways to lessen the gap between your savings and the funds you need for college is through landing a federal Pell Grant for college. Unlike a loan, grant money doesn't have to be paid back, making the receipt of such a grant highly attractive to attain. According to the U.S. Department of Education, the maximum amount for a Pell grant is $5,500, not an insignificant sum of money. Funding amounts are based on the student's financial needs, the amount needed to attend college and whether the student will be attending part-time or full-time.
  
  

State Grants

• Looking for grant money through states is another avenue for "finding" free money. Most grants, according to MSN.com, are doled out based on minimum qualifications, such as need based on income. If you are lacking funds, however, you should investigate to see if you qualify. Some states also distribute grant money based on the discipline you wish to pursue. Examples include grants for those studying teaching, engineering or mathematics. Obviously, amounts vary depending on your particular situation, but the typical grant can run anywhere from $2,000 to $4,000 per student, as of 2011.
  
  

Private Scholarships

• You can also look for extra cash through private scholarships. You can find private scholarships in your own community, through your school or through local or regional sponsors in the business, religious or civil service sectors. Usually, such scholarships can be attained through academic and athletic achievement or outstanding civil service, and are for small amounts, say, between $500 and $1,000. These scholarships, however, can help bridge the gap if you are looking for funding to get you into the school of your choice. You can also look outside your community for larger scholarships given out by nationwide organizations, corporations or private philanthropists. These scholarships typically pay larger amounts but pull from a larger group of students, with fierce competition for a relatively small pool of funding.
  
  

Student Loans

• If you have exhausted all your grant and scholarship options, explore applying for a student loan. Not all student loans are created equally, but you do have options. You can seek out a private loan through a lending institution or other lender. Federal loans are also available through such programs as Federal Stafford, PLUS, Graduate PLUS and consolidation loans, for those out of school looking to consolidate their loans. For the Stafford loan, for example, according to eStudent Loan, in 2010-2011 you could borrow up to $12,500 per college year, providing you with an option to pay the amount necessary you need to pursue a higher education.