The Pell Grant is a monetary sponsorship by the US Department of Education for qualified individuals who wish to attend post-secondary education. It was enacted to provide financial aid to undergraduate students from low income households.
A Pell Grant is known as the basic or foundation financial aid a student first receives before additional aids are added. The Department of Education has a standard formula which assess the student's eligibility and determines the student's financial need through Expected Family Contribution (EFC).
The Pell Grant, which is named after Senator Claiborne Pell, is an important and valuable aid in higher education becase it is not a loan and does not need to be repaid. The grant has helped over 5 million deserving students in pursuing their post secondary education. Students whom qualify may use their grant at any one of the participating colleges or higher education institutions. To date, there are approximately over 5000 institutions for students to choose from.
Students whom wish to benefit form the Pell Grant will need to apply by completing the Free Application for Federal Student Aid or FAFSA. FAFSA is now available online at The Department of Education's official website. And it is of course free to apply for federal financial aid. The website provides students with essential information and easy to follow instructions to complete the application. Students are also able to download a manual which assist them in completing FAFSA should they choose to apply through paper. Close to 14 million applications are processed every year.
FAFSA is used for applying to any student aid or financial aid offered by The Department of Education. In FAFSA, both the student and family members will need to provide personal information, family income status and the student's grades. The student must at least have a high school diploma and has maintained a satisfactory grade throughout the academic years. Students may also find out the status of their application through the same website.
The maximum Pell Grant amount for the term 2011 to 2012 is $5550. The exact amount received by the student depends on the family's financial need, cost of schooling, which institution is chosen and also the student's academic performance. Students whom apply must be of US citizenship. To maintain the quality of students benefiting from this grant, individuals will lose their grant if they are charged with a drug related offense or any sexual offenses.
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Leveraging a pell grant to pay for school is a great idea in a down economy. To find out more information about pell grants, please visit: =>http://pellgrantguide.org/
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