The Federal Pell Grant is a great option if you are an undergraduate student that’s pursuing their degree at any of the 5,400 post-secondary institutions. The Pell Grant is an education grant and is for students that are in the low to moderate income class. It is meant to give students to opportunity to receive a post-secondary education. All funds that are distributed don’t have to be repaid back to the government.
To apply for a Pell Grant, you must complete and submit the FAFSA or Free Application for Federal Student Aid. This application is administered by the Department of Education and will determine if you qualify for any form of Federal Financial Aid. The FAFSA takes into consideration your families assets and your family’s total combined adjustable gross income in order to determine if you are eligible for this type of Educational Grant.
The Pell Grant Program was established to serve the needs of underprivileged students. These students want to attend a post-secondary institution and have the grades to be accepted, but they don’t have the money to pay for college. This grant is meant to help these types of students out and make sure they have to opportunity to receive a post-secondary degree.
The maximum amount a student can receive for this grant during the 2009-2010 school year is $5,350. If you plan to attend Summer School, you are eligible to receive an additional $2,675 in Funds to cover all Summer School Costs. By 2012, students will be eligible to receive $5,400 in total grant funds during any given school year.
It’s important that you submit the FAFSA Application before the Pell Grant Deadline. If you do not submit your application in time, you will be unable to receive an award for that given school year. Remember, this is FREE money for college. You will not have to repay any money related to this grant back to the government, so taking the time to complete the FAFSA application is well worth every minute.