Learn More About Pell Grants
Learn More About Pell Grants
Going to college has been made easier thanks to the availability of Federal Pell Grant. Over 5.4 million students who are in full time, part time or vocational colleges are placed at liberty to enjoy these grants.
Eligibility
Students who come from families that have income of $60,000 are considered eligible for the same. While this is the case, it is important to note that most of the awards tend to be taken up by those students from families with an income that is below $ 30,000. More importantly, there are no charges associated with the application process. At this point, it is ideal to state that undergraduate students can get this type of funding till they get the first degree.
Amount of Money Received
In the period between 2010 and 2011 the amount has been set from $ 555 to an approximate $ 5,550. It is ideal to state that this amount varies from year to year and as such, it is always advisable to seek and find out how much they are giving during the specific time one is requesting for funding.
How is the Funding Awarded?
When applying for a Pell Grant, it is important to E20-820 note that the same formula is applied for all applicants. To ensure that it is fair at all time, the U.S congress is charged with the responsibility of revising and approving the formula every year. There are certain factors that determine the amount every applicant is going to receive and these are outlined below.
• The overall cost of attendance.
• The financial situation of the family
• The size of the family in question
• It will also be influenced on the aspect of the students study plan. In this regard, the question is whether they are part time students or full time.
Where to Use It?
It is important to state that this kind of funding can be used practically in any educational E20-670 institution. While this is the case, it is always advisable to consult with the Financial Aid Administrator in the school of your choice to find out if they accept this type of funding.
The application Process
In order to apply for the fund, one must fill a FASFA form. You can find these with ease in colleges, high schools, libraries, as well as vocational schools. Other places where you can find the same include the community as well as state agencies.
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