What Is The Federal Pell Grant, Who Is It For, And How To Apply?

The Pell Grant is student aid program provided by the Federal government to college students from low-income families.The said program was named in honor of Senator Claiborne Pell for his hard work and dedication to improving the higher education of the students in the United States.The Federal Pell Grants are usually given to undergraduates or those who do not have a professional degree yet.There are also instances when the said grant is rewarded to certain post baccalaureate students.To qualify for this federal financial assistance package for students, you have to hold American citizenship and a valid social security number, have a high school diploma or GED certificate, and not have any convictions related to the sale, use, or possession of drugs.

The maximum grant amount for 2011 to 2012 is set at $5,500.However the amount you are eligible to receive will depend on various factors, namely, your financial need, costs to attend school, whether you are a part-time or full-time student, and whether you are attending school for a full academic year or less.Unlike loans, the Federal Pell Grant does not need to be repaid.The good thing about this grant is that it can be used with other scholarships and loans either from the government or from private entities.

To apply for a Pell Grant, you have to submit a completed Free Application for Federal Student Aid or FAFSA form.The responses that you supplied in the said form will be entered into a formula which determines you Estimated Family Contribution or EFC number.Applicants who are determined to have low EFC are eligible to receive the said grant.

Applicants can fill out the form online at the FAFSA website, or they can apply through mail.For electronic submissions, you can expect your Student Aid Report in as little as 3 days, while those who opted to send via mail will have to wait for 10 days at least.Filing is free if you do it on your own, but you also have the option to get fee-based FAFSA preparation and submission services from the Student Financial Aid Services, Inc.

Do not forget that federal aid is limited and majority of it is offered on a first-come, first-served basis, so the earlier you file the better.Also be mindful of any deadline instruction, because if you missed them, you will also lose the privilege for receiving a scholarship for the said program for that year.

Hash:Bob Pwetersmith-IUxKCZpRBg5HNRa46HWk