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How To Apply For Federal Pell Grant

filed: September 15, 2008

When reviewing your financial aid choices for covering college costs, grant money and scholarships are options that every student should consider. In both cases recipients do not repay these funds, relieving a likely burden that some students would have to carry for many years post graduation in the form of student loan payments.

Of the grant programs available, the Federal Pell Grant program is the best known, a needs-based financial aid option. Please read on to learn how you can apply for valuable grant money to help cover your college costs.

What's Needed

Before applying for a Federal Pell Grant, families must fill out a FAFSA or Free Application for Federal Student Aid form which the federal government will use to determine grant eligibility. The deadline for applying for the upcoming academic year (which begins with the Fall semester) is June 30th. The FAFSA determines what is known as an EFC – Expected Family Contribution – the amount of money that each family must come up with to pay for their student's schooling.

Pell Grant applicants must be undergraduate students who haven't earned a bachelor's degree previously, a U.S. citizen or eligible non-citizen, and possess a high school diploma, GED, or demonstrate an ability to benefit from the program.

How Much Can You Get

The maximum amount that can be awarded in any given academic year is adjusted for inflation, but for 2008-2009 that amount is $4731. Factors such as tuition, room and board, books, supplies, and related expenses are considered when applying for a Pell Grant. In addition, class load – the number of credits carried – is another factor which helps determine eligibility. Part time students are eligible to receive Pell Grant money, but the amount of money they'll receive is lower. Each factor is weighed against the family's EFC to determine whether a grant will be awarded and for how much.

When a student is notified that they are a Pell Grant recipient, the funds will be credited to their college account, or issued to them in the form of a check or, in some cases, a combination of the two is used to distribute grant money. Once a student wins a Pell Grant, they'll continue to receive help each academic year as long as they remain enrolled and have yet to be awarded a bachelor degree.

Clearly, a Federal Pell Grant can be an effective way to cover some of your college costs, therefore applying early in your college years can bring forth the maximum benefit, relieving you of at least a portion of the burden of paying for school.

For More Information:

• see the financial aid steps for aid qualifications
• view the financial aid chart for undergraduates