Everything You Need To Know
About Federal Pell Grants



 


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What are Federal Pell Grants?

Pell Grants are a federally-funded grant program awarded to low-income undergraduate students. Over $9.9 Billion was awarded in the 2001-02 academic year, making it the second largest form of financial aid, next to the Stafford Loan. It is estimated that approximately 4 million students receive Pell Grants every year.

Who qualifies for Pell Grants?

Pell Grants are awarded only to undergraduate students who have not yet earned a bachelor's or professional degree. (A professional degree is usually earned after earning a bachelor's degree in a field such as medicine, dentistry, or law.) In some cases, you might receive a Pell Grant for attending a Teaching Credential Program.

You can still receive a Federal Pell Grant even if you're enrolled less than half-time. You won't receive as much as if you were enrolled full time, but your school must disburse your Pell Grant funds in proportion to your enrollment status, and cannot refuse you an award simply because you're enrolled less than half time.

How do you apply for Federal Pell Grants?

By submitting the Free Application for Federal Student Aid (FAFSA), which is a form required by all schools, you are automatically considered for a Federal Pell Grant. Eligibility will depend on your Expected Family Contribution (EFC), and the Cost of Attendance (COA) at the school you will attend.

 

2-4 weeks after you've submitted your FAFSA to the Department of Education, you will receive a Student Aid Report (SAR), which informs if you're eligible, and if so, the amount of your Pell Grant award. .

What can Pell Grants be used for?

Pell Grants can be used for tuition, room and board, transportation expenses, lab fees, books and supplies, personal expenses, etc.

How much do Pell Grants award?

For the 2002-03 academic year, the maximum Pell Grant award is $4,000. You can receive only one Pell Grant per year, and you may not receive Pell Grant funds from more than one school at a time. How much you get will depend on your Expected Family Contribution, the Cost of Attendance at the school you'll be attending, whether you're a full-time or part-time student, and whether you attend school for a full academic year or less.

How are Pell Grants awarded?

How your Pell Grant is distributed is up to the Financial Aid Office of the school you'll be attending. They can either credit the Pell Grant funds to your school account, pay you directly, or combine one of these two methods.

Your school must tell you in writing how and when you'll be paid and how much your Pell Grant will be. Schools must pay you at least once per term (semester, trimester, or quarter). Schools that do not use formally defined, traditional terms must pay you at least twice per academic year.

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Important Note

Even though Federal Pell Grants are intended for low-income families, many middle-income households can now also qualify for this desirable form of college financial aid. To discover how a middle-income family can get a low-income college government grant, a highly recommended resource is "The No B.S. Guide To Getting Maximum College Financial Aid"

Details can be found at: www.college-financial-aid-secrets.com

 


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