Federal Pell Grants
What is a Federal Pell Grant?A Federal Pell Grant, unlike a loan, doesn't have to be repaid. Pell Grants are awarded only to undergraduate students who have not earned a bachelor's or professional degree. (A professional degree would include a degree in a field such as pharmacy or dentistry, but only if a prior undergraduate degree was not earned.) For many students, Pell Grants provide a foundation of financial aid to which other aid may be added.
How do I qualify?
To determine if you're eligible financially, the U.S. Department of Education uses a standard formula, established by Congress, to evaluate the information you report in the Free Application for Federal Student Aid (FAFSA) when you apply. The formula produces an Expected Family Contribution (EFC) number. Your Student Aid Report (SAR) contains this number and will tell you if you're eligible. You'll receive your SAR at your home address about 4-6 weeks after mailing your FAFSA to the federal processor.
How much money can I get?
Awards for the 2007-2008 award year (July 1, 2007 to June 30, 2008) range from $400 to $4,310. If you are eligible, you can expect to receive an amount somewhere in between. How much you get depends not only on your EFC, but on your cost of attendance, whether you're a full-time or part-time student, and whether you attend school for a full academic year or less. You can receive only one Pell Grant in an award year. You may not receive Pell Grant funds from more than one school at a time.
Can I receive a Federal Pell Grant if I am enrolled less than half time?
Yes, if you're otherwise eligible. You won't receive as much as if you were enrolled full time, but your school must disburse your Pell Grant funds in accordance with your enrollment status and can't refuse you an award simply because you're enrolled less than half time.
[ top ]
