Pell grants are awarded to low income college students whose family income falls below a certain level. Pell grants are federal grants which do not need to be paid back, making them a free source of financial aid. Military servicemembers are eligible to receive Pell grants.
For the 2009-2010 school year, the maximum Pell Grant is $5,350. For the 2010-2011 year, the maximum will increase again to $5,550. Generally, the minimum Pell grant is $400.
Pell Grant Eligibility
In order to qualify for a Pell Grant you must be a U.S. citizen and an undergraduate student. If you already have a bachelor’s degree, you are not eligible for a Pell.
The amount of each individual student’s Pell Grant is based on:
- Expected Family Contribution (EFC): the amount that the federal government determines your family can pay towards your college costs. Calculated from information you provide in your FAFSA, the EFC is a formula that takes into account your family’s size, income, and financial assets, including such information as the number of family members in college at the same time.
- Cost of Attendance (COA): a total of all the costs involved in attending each specific school. Costs of attendance certainly include tuition and related academic fees, but also other costs you’d have to pay or cover in order to attend school, such as housing costs, IT fees, and possibly transportation.
- Enrollment status: whether you’re a full-time or part-time student
How to Apply
To apply for any type of federal student aid you will need to fill out the FAFSA. Once you fill out the FAFSA you will automatically be considered for a Pell Grant.
