Tuesday, March 30, 2010

Federal Pell Grants

One of the numerous potential sources of financial aid for college students is a Federal Pell Grant. A federal pell grant, unlike a loan, does not have to be repaid. Pell grants are usually awarded only to undergraduate students who have not yet earned a bachelor's or a professional degree. The money that is issued from a federal pell grant can be used to pay your tuition, purchase books and supplies, or pay for your transportation costs.
To qualify for a Pell grant, the student must demonstrate that they are in financial need, have a high school diploma, be enrolled to obtain a degree, be a U.S. citizen; permanent resident or other non-eligible classification of non-citizen. You must also have a valid Social Security number, make satisfactory academic progress for Federal Student Aid programs, and register with Selective Service if you are male between the ages 18 and 25. Lastly, you must certify by signing a FAFSA that you will use any federal student aid funds awarded to you solely for educational purposes, and that you are not in default of any federal student loan and that you do not owe a repayment of any federal student aid grant.
The amount of the grant varies on both the student's Estimated Family Contribution and many other factors. These factors are the student's cost of attendance (tuition and fees, room and board, books, supplies, and so on) and the amount of time the student attends school (whether the student goes to school for a full academic year or less and whether the student is full-time or part-time). Students may apply for this program by completing the Free Application for Student Aid online at FAFSA

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