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You've heard all the hub-bub of the "Obama Stimulus" and "Federal Grants for college", and you've been considering returning to school for some time now. But you've also heard all the commotion about the scams and fishing traps out there. How can you tell the good from the bad? And once you figure that out, where do you begin? I'm here to tell you that it really isn't all that complicated.

Your first step is to fill out a FAFSA. This is the free application for federal student aid. This will be your application for federal student loans, as well as for the pell grant. As you know, a grant is free money that never has to be repaid. If you qualify, this grant will pay for about $3,000 to $5,000, depending on your level of studies and financial need.

When you get to the FAFSA site, you will need to register and apply for a pin. Before you begin the application, you will need some documentation. Last year's taxes(or other income verification), social security numbers, driver's license, and information on any assets you own. Assets include savings, investments, and property. Don't worry, they don't ask for the value of your car, computer, or mini-scooter; and a simple savings account with $200 will not affect your eligibility.

You will also be asked for your school codes. If you haven't narrowed your search, or haven't been accepted yet, you can leave this blank for now, or type in your top 3 or 4 schools. It is important to put these school codes in at some point, because the money that is awarded to you goes first to the school. The code can be found on the FAFSA website, or you may get it from your financial advisor. If your choice school isn't located in the FAFSA search, then most likely it is not accredited and you may want to look for a different school.

There is some waiting time. After your application is finished and received, it can take several months to receive your SAR. This is the student aid report. Simply put, its a number that tells the system if you are eligible, for what you are eligible, and how much you are eligible for.

What if you don't qualify for the Pell grant? Have no fear, there are other grants out there. However, a warning; If you go searching online, you will find more scams than reality. Look for the .gov in the web address. If you are no longer on a government site, than you are not applying for a government grant. There is one site you can check into, called Grants.gov. This site is extensive, and can be very time consuming.

Each organization which provides grants has its own criteria. If you find a program that you think you qualify for, follow the instructions to the "T". This is imperative. The first grant applications that get thrown out are the ones that are ill prepared. Therefore, preparation is the key. You will need much of the same information as you would for the pell grant and other forms of financial aid. You may also have to write a short essay explaining your need for financing, your education goals, and what you can offer the field upon graduation.

One more note. Start early. All grant programs have deadlines, if you fail to meet them you will not get them.

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