You might have had the knowledge about pell grants which are given to the students by the US federal government to support and lend money for paying their tuition fee. But it is even more important to know the details regarding the eligibility and basic requirements for being able to attain this opportunity.
If you are looking for financial assistance then it is better to know about pell grants and further necessary information regarding it which is discussed in this article.
What is a Federal Pell Grant?
It is financial aid provided to underprivileged students but you do not have to repay it like student loans unless you drop out of college. These are usually paid only to undergraduate students.
These grants are the foundation for financial aid, to which aid from other federal and nonfederal sources might be added.
In order to receive a pell grant, you will have to meet certain eligibility criteria as it is a federal aid program. Your eligibility will be determined by FAFSA. It is better to make a checklist of the basic criteria which are considered for grants.
The first and foremost is that you should be an undergraduate student as this opportunity id just for a bachelor's or professional degree pursuing student.
You should have a high school diploma certification or a system of education that is accepted by the government.
If you are male and aged between 18 and 25, you will have to be registered for “Selective Service”.
You should be eligible to register for a degree program and you can confirm your eligibility for this from your school’s financial aid office.
You will have to sign certain statements in FAFSA which states that “you do not owe to repay any student loans as if now” and “you will be using financial aid money for your education purpose and not for your personal need”.
You must be having a legit Social Security Number.
Along with all these, you should be one of these:
Be a US citizen
Have a green card
Have battered immigrant status
Have an arrival-departure record
The financial requirement is one of the important criteria when it comes to the grants as you will not have to pay back these. The main intention of this grant was to help low-income students who have not completed their post-secondary degree education to pay the college fees.
Your eligibility depends on your financial need which is determined based on your parent’s income and also includes the basic family expenses. It can be put up as Less income + expenses = more Financial need.
Income comprises of your parent’s income, any assets like savings, and your personal income (if there are any) as most of you will be doing a part-time job.
Expenses depend on the number of people living in the house because more people mean more expenses and also the number of people not working as in people studying.
Income and expenses are calculated to determine the “Expected Family Contribution (EFC)”. If your EFC value is less than $5150, you will be eligible to receive a pell grant. Most of the students who have an income of less than $30000 per year will be given this grant.
How much amount will a student be awarded?
The amount of money awarded to students through these grants is based on certain factors like EFC value, choice of a degree program, cost of attendance, and many more. The maximum pell grant paid was $6195 in the year 2018-2019.
What does the Federal Pell Grant Pay for?
It can be used only for school-related expenses as it is financial aid given to students in order to help them with college expenses which include room, tuition, and college fees, textbooks. The grant rewarded will directly go to your college and will be spent on appropriate charges. most likely the big ones like tuition, room, and board expenses.
How to Apply for Pell Grants?
There is no specific form or anything to apply for pell grants.
You can fill out the FAFSA form and these grants are considered in it. FAFSA is entirely free to submit. You can contact your college financial aid office to know more details and they will be guiding how and when to apply.
Even though you don’t need aid to pay, it will help you determine your capability and also to know the scholarships and grants you are eligible for.
It is an excellent venture of the US Government to provide financial support to underprivileged students to complete their education by giving them pell grants. You should be aware of the las submission date of FAFSA as it is the medium to gain grants. It is your responsibility to make the most use of it and complete your studies.