Federal Pell Grant is One of The Best Way to Funds Your College Education

By: Olivia P., Assistancefinder
Published Jan 10, 2020 8:49:11 AM

A student pursuing a bachelor’s or a professional degree can be eligible for a Federal Pell Grant. These grants are awarded usually only to undergraduates or those pursuing a professional degree. A student must not have graduated or earned a bachelor degree or a professional degree in the past to be awarded. The only exception to this rule is if you are pursuing a postbaccalaureate teacher certification. Then there is a chance you could be awarded a Federal Pell Grant even though you have graduated already.

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Federal Pell Grants are awarded based of financial need, but not everyone qualifies for this aid. For example, if you are incarcerated in either a federal or state prison, you will not qualify for the Pell Grant. Those who have been charged with a forcible or nonforcible sexual offense and subject to involuntary civil comment after jail are not qualified to be awarded this grant.

Unlike loans, Federal Pell Grants are awarded without the requirement to pay back the grants. In some circumstances, which are rare, you might have to pay back the grant. These exceptions have to do with no longer qualifying for the grant. For example, going to part time or withdrawing from school will require you to pay back the loan. If you receive scholarships or other grants, this will reduce the amount of need and will reduce your Federal Pell Grant. Also, if awarded a TEACH Grant, you would have to pay it back if you did not meet all of the requirements of it.

In order to qualify for the Federal Pell Grant, you will need to submit a Free Application for Federal Student Aid (FAFSA) form. It needs to be filled out every year you plan on attending school. This form qualifies you for federal student aid. How much you get for aid can depend on a variety of factors. Each year the amount awarded is different. For the school years 2017-2018 and 2018-2019, the full amount is $5,920. This amount can be less, however. If you are going to school part time, you will be awarded less. If this is more then the cost of attendance, you will be awarded less. If you plan on being in school less than a year, you will additionally be awarded less. Also, you r financial need will determine the amount you will get from the Federal Pell Grant.

In some situations, you could be awarded more money from the Pell Grant. You could get 150% of the amount to attended summer school. For example, say you get $1500 for Fall Semester and $1500 for winter, you could be awarded an additional $1500 for summer. This is referred to as the year round Pell. Contact your school’s accounting office to find out more.

There is a limit to how long you can qualify for the grant. After 12 semesters of aid, you can receive no more. That is 6 years’ worth of study. You will be contacted if you are close to your limit. Each school is awarded enough money to pay all the students who qualify for the Federal Pell Grant. It is paid by the U.S. Department of Education. If you qualify for other aid, it does not affect your amount of Federal Pell Grant.

Another reason someone might get a larger grant is if his or her parent died in Iraq or Afghanistan after the events of 9/11. To qualify, the person needs to be less than 24 years old and enrolled at least part time. Those who qualify will receive an Expected Family Contribution (EFC)of zero. This is calculated in the FAFSA and tell the schools how much you can pay. If your EFC is too high, you might be able to get a Iraq and Afghanistan Service Grant.

You can be paid the Federal Pell Grant in several ways. You can apply the grant towards school, take the pay directly or combine these methods. In order to maintain the Federal Pell Grant, you must maintain enrollment at a nonforeign school and in an undergraduate program. Additionally, to qualify you will need to fill out a FAFSA every year you are in school.After 12 semesters or once you have earned a baccalaureate or professional degree, you will no longer qualify for the Federal Pell Grant.

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