One of the most widely available grant programs for prospective students entering college is the Federal Pell Grant program. The Pell Grant is a source of free government money for college students who qualify. Unlike other grant programs, Pell grants do not require repayment and are sponsored by the U.S. Department of Education.
Pell Grants are awarded based on the “financial need” of the student. To qualify for a Pell Grant, a student must demonstrate financial need per the regulations set by Congress. Additionally, a student is eligible for financial assistance if he or she maintains satisfactory academic progress, which is determined by each university. To apply for a Pell Grant a student must fill out a Free Application for Federal Student Aid (FAFSA). The completed FAFSA must then be returned the students financial aid office for evaluation. The information from the FAFSA is used to calculate your EFC (Expected Family Contribution), which determines the grants size. Typically, the lower you’re EFC, the more financial aid you will receive.
So how much can I get?
The maximum Pell Grant award for the 2009-10 award year is: $5,350. For the 2010-11 award year (July 1, 2010 to June 30, 2011), the maximum award is $5,550. The maximum award amount is available for any eligible student whose parent died as a result of military service in Iraq or Afghanistan after Sept.11, 2001. Additionally, the student must be under 24 years old or enrolled at least part-time in college at the time of the parent’s death.
Who is eligible?
Pell grants are typically awarded to students seeking to complete their undergraduate degree who have not earned an undergraduate degree. Each applicant must be a U.S. citizen, posses a high school diploma/GED , or demonstrate the ability to benefit from the program.
When will I be paid?
Generally students are paid directly by the university they applied with for the Pell Grant. Funds are normally dispersed by check to the student or are directly credited to the students account.
So how do I apply?
You can apply for a Pell Grant by completing the Free Application for Federal Student Aid (FAFSA) online at www.fafsa.ed.gov. Prospective students can request a paper FAFSA from the Federal Student Aid Information Center (FSAIC) at (800) 4-FED-AID (433-3243). Students interested in obtaining a Pell Grant should check with their educational institution for application deadlines and updated information.
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