About Federal Pell Grants
Federal Pell Grants are provided to some graduate students as well as to undergraduate students that have a low income. There are about 5,400 colleges that participate and Federal Pell Grants can be used at any of them. Usually, average amount of award is approximately $3,000 but there have been amount awarded from between $500 and $5,000. The yearly amount will increase each year based on the cost of living index but the maximum amount grant for each year is approximately $5,000. If they meet all of the deadlines, the recipients of Pell Grants will receive the full amount that they qualify for which is unlike some limited funding grants.
To be eligible to receive a Federal Pell Grant the student must either be an eligible non citizen, a permanent resident, or a US citizen. Some graduate students who are working towards their teaching certificate and both part time and full time students who don\’t already have their bachelor\’s degree can receive a Federal Pell Grant.
A student\’s eligibility for a Federal Pell Grant is based on a student\’s EFC (Expected Family Contribution), which is calculated using the information that is provided on the FAFSA (Free Application for Federal Student Aid) form. Recently there have been Federal Pell Grants that have been awarded to students that had family with incomes of as much as $60,000. Factors including the number of working parents and the number of family members in are also considered. The students who receive the Federal Pell Grant have to satisfactorily maintain their progress academically as determined by the grant program.
Students need to submit their FAFSA forms as early as possible. This application will be used to determine the student\’s eligibility for the many different kinds of college and state financial aid as well as for federal financial aid. The student\’s college will inform the student when they have been determined to be eligible for other financial aid and/or the Federal Pell Grant.
The college will determine how the money from the grant will be paid to the student. They might pay the money from the grant directly to the student or they might apply it directly to the student\’s costs for college, or some mix of both methods. Colleges are required to provide the money from the grant a minimum of twice every academic year. Federal Pell Grants are provided on a first come, first serve basis, so it is important that the student apply for the Federal Pell Grant as soon as possible.
Click here for more information about grants for college and pell grants.
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