Monday, August 4, 2008

How to get federal pell grants

What is is pell grant money?
Federal Pell Grant Program provides financial aid to low-income undergraduate students.

How can a student use the money?
The student can use pell grant money to access postsecondary education at 5,400 participating postsecondary institutions.

How much money can I get - Dependent on what? Pell grant amounts are dependent on the followings:
  • Student's expected family contribution (EFC).
  • The cost of attendance + Full year or less.
  • The student's full/part time enrollment status.

Important facts about pell grants:
  • You can't get pell grant money from more than one school at a time.
  • Financial need of the students family - Efc is determined by the U.S. Department of Education using a formula.
It evaluates Efc by using the following elements reported on the Free Application for Federal Student Aid (FAFSA):
  • Student's income.
  • The parents' income and assets (if the student is dependent).
  • Family's household size, and the number of family members (excluding parents) attending postsecondary institutions.

How to apply for financial aid - Fafsa?
If you are an undergraduate student and you desperately looking for financial aid, enter the Fafsa website, and open an online account while providing the following:
  • Your Dependency Status
  • FAFSA on the Web Worksheet
  • School Codes
  • Stdents & Parents PIN

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