The Pell Grant is the most popular and the oldest form of monetary support that was created especially to assist students who need financial aid to continue their studies in college. These grants are especially created for those who have not earned their first bachelor's degree; students from some post- baccalaureate programs may also be eligible. The federal Pell Grant, unlike a loan, does not need to be repaid.
However, your eligibility also depends largely on your family's income. The Pell Grant is awarded to families with incomes up to $60,000 but most of the time, families with incomes below 30,000 dollars will have a higher chance of receiving the grant. You also have to be a citizen of the country or a non-citizen who meets the specific requirements. A high school diploma is also required, in addition to taking tests to show whether you exhibit the ability to benefit from the program.
During the process of the application, the applicants will be required to fill out a form. This form can be obtained from your school and it can also be done online. The application is completely free of charge. Information regarding your family's income and other corresponding financial need and also your academic results are also required in the application form. If you are qualified for the grant, you will be notified via email or snail mail.
The amount that you receive from the grant will range from approximately $500 to $5,000. The amount granted is also dependent on your tuition fees, your family's financial need, the size of your family, the duration of your academic studies and also whether you are doing a part-time or a full-time course. The money from the grant will be sent directly your school's financial department to pay for your tuition fees or be paid directly to you by check, or they could also combine both of these means.
Furthermore, you cannot have a drug conviction while still receiving the federal grant as this could lead to a loss of eligibility. Failure to pay for any federal student loans or owing to other federal education grants would also lead to a cancellation of the Pell Grant. You are only allowed to use the funds for education purposes and you have to sign a statement to certify this.
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Leveraging a pell grant to pay for school is a great idea in a down economy. In order to qualify, the applicant must meet pell grant eligibility requirements. To find out more information about pell grants, please visit: =>http://pellgrantguide.org/
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