Monday, June 30, 2008

How to apply for Federal Pell Grant


A Federal Pell Grant, unlike a loan, does not have to be repaid.

Pell Grants are awarded usually only to undergraduate students who have not earned a bachelor's or a professional degree.

Pell Grants are considered a foundation of federal financial aid, to which aid from other federal and nonfederal sources might be added.

How much money can you get?

The maximum Pell Grant award for the 2008-09 award year (July 1, 2008 to June 30, 2009) is $4,731.
The maximum can change each award year and depends on program funding.
The maximum Pell Grant award for the 2011-12 award year (July 1, 2011 to June 30, 2012) is $5,550.
Does the amount of money depend on something?
Sure. It depends on the followings:
Your financial need
Your costs to attend school
Your status as a full-time or part-time student
Your plans to attend school for a full academic year or less.

How to apply for pell grants?
Your school can choose between applying Pell Grant funds to your school costs or paying you directly (usually by check).

Generally:
Your school must write you how much money you will be awarded and how.
Schools must disburse funds at least once per term - semester, trimester, or quarter means that schools that do not use semesters, trimesters, or quarters must disburse funds at least twice per academic year.

More on financial aid

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