Money for College - Pell Grant Information

If you are a student who has not earned a bachelor's or a professional degree, you may qualify for a Federal Pell Grant. What's a Pell Grant? Unlike a loan, a Pell Grant does not have to be repaid.

There are currently more than 5000 institutions supporting Federal Pell Grants for students who wish to further their education, so do check whether your target school is part of the 5000+ institutions supporting this Federal Pell Grant program.

The amount of Pell Grants being given are dependent on a variety of factors. The maximum Pell Grant award for the 2007-08 award year, which is July 1, 2007 to June 30, 2008 is $4,310. However, the amount you receive will not only be dependent on your financial needs, but also the cost to attend your chosen school, as well as whether you are a part-time or full-time student. Most Pell Grant awards go to students with family incomes below $20,000, but students with family incomes up to $50,000 are also eligible for Pell Grants.

A good advantage of these Pell Grants is that they are not limited to a single institution at a time. You can have as many Pell Grant funds from different schools for as long as you are qualified and declared to be in dire financial need. The Congress established a formula followed by the Education department to determine whether an applicant is truly in financial need and in what degree. If the student is living independently, he or she is evaluated based on his or her income sources, or his or her parents' income and sources, if he or she is still dependent on them for financial support

If you are deemed eligible for a Pell Grant, your school can apply the grant money to your school costs or pay you directly with a check. Or, they may apply some to your school funds and pay you the rest directly.

How do I Apply for a Pell Grant?

You need to fill out a FAFSA (Free Application for Federal Student Aid) form, which you can find at high schools, colleges, vocational schools and libraries. You can also receive this form by contacting:

Pell Grant
Box 84 Washington D.C. 20044
(800) 433-3243

You can also submit the form electronically over the internet by going to www.fafsa.ed.gov.

Synonyms: Pellgrant and Pell Grant are used synonymously.  Plel, Peell, Peel, Pelll, Pelll, Pel, and Pel are typos for "Pell."