Federal Pell Grants

Grants, unlike loans, do not have to be repaid. Federal Pell Grants are usually awarded to undergraduates. The criteria for eligibility include

• Studying for first undergraduate degree
• US citizen or eligible non-citizen
• High school diploma or GED or be able to show the ability to benefit from the program
• Males must be registered with the Selective Service
• Incarcerated students are not eligible
• Those in default on a Title IV loan or owing a refund on a Title IV grant are not eligible
  

Those meeting the above requirements may be awarded a Pell Grant based on

• Financial need based on Estimated Family Contribution (EFC)
• Cost to attend school
• Whether a part time or full time student
• Whether student will be attending for the entire school year

There are no academic requirements to fulfill as long as you are attending an eligible school.

As with most of your financial aid, you will need to submit the Free Application for Federal Student Aid (FAFSA) to be considered for the Federal Pell Grants. If you haven't filled out a FAFSA before, you should apply for a personal identification number (PIN). The PIN will allow you to fill out and submit your FAFSA online.

For the 2005-2006 school year, the minimum award is $400 and the maximum amount awarded will be $4050. This amount can change from year to year depending on the amount of federal funding to the program. Your school may apply your grant to your school account, pay you directly with a check, or some combination. They will let you know in writing how much your award is and when it will be paid. Payments will be made at least once per semester, trimester or quarter depending on how your school's academic year is set up. Those schools without normal session braeks will pay at least twice per year.

Students who receive a Federal Pell Grant may also be eligible for a Federal Supplemental Education Opportunity Grant (FSEOG).