Financing A Higher Education With A Pell Grant
A Pell Grant program is a need based federal program managed by the US Department of Education. Grants do not have to be repaid. They provide opportunity for low income students to access higher education opportunities. Grants can be used at any of 5,400 participating universities or vocational schools.
Funding varies depending on a students financial resources, school costs, full or part time enrollment, and number of semesters a student expects to attend school. Eligibility is based on a formula taking into account the student’s income, and if a dependent, the family’s income and assets, family size, and number of family dependents attending a college or trade school.
To find out if you’re eligible file a Free Application For Federal Student Aid (FAFSA). The form can be filed online. It can also be downloaded, or a student can obtain a hard copy from a school counselor or the Federal Aid Information Center.
Applicants must supply their social security number. Young men must register with the Selective Service to be granted assistance. Applicants must possess a high school diploma, a GED, or show ability to attend the school of their choice. Funds are only for educational purposes. For continued funding, students must demonstrate satisfactory academic progress.
Funding can be suspended at any time for conviction of illegal drug use. You can’t be in default on a federal student loan. Students may not receive funding from more than 1 institution at a time. Students may receive funds for up to 18 semesters. Applications must be updated yearly with current income and asset information.
Pell Grants are for students who have not yet earned a bachelor’s degree. The exception is for post baccalaureate students working towards a teaching license. Grants are awarded through any of the 5,400 participating colleges, universities, and vocational schools. Schools may credit the student’s account, may pay the student directly, or may disburse funds using a combination of the two methods. They must specify in writing how they will dispense funds.
Check out our site to learn all there is to know about the Pell Grant program . You can also find details about the FAFSA process and the benefits of student financial aid at http://www.financialaidtips.org/fafsa.htm now!
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