The FAFSA website is very user friendly and very informative. At the website, applicants will be able to obtain useful and valid information such as how to complete the FAFSA form, how the Pell grants are computed and the eligibility criteria. Applicants are also able to get help from representatives if they have any doubts or questions. If the students are unable to complete the form in one sitting, the form can be saved and retrieved later. When the form is completed, both the student and the parents would need to sign it electronically. The processing time takes an average of 2 to 3 weeks. Students will be able to check the status of their application from the same website.
As the application for the Pell grant is processed base on a first come first serve basis, it is advisable for students to submit their forms early and before the deadline. The deadline for the year 2012 is June 30th. Students will also need to submit the required documents such as social security numbers, bank statements, income tax returns and academic certificates. The Pell grant is a needs basis grant and therefore, it calculates the student's financial needs by using a standard formula called the Expected Family Contribution (EFC). It is therefore important for the student and the family to provide accurate proof of their income tax returns. The EFC will also determine the exact amount that will be granted to the eligible student.
The Pell grant is most helpful to students from low income families. It is not a loan and there is no need for it to be repaid. As we all know, the cost of higher education is on the rise. The average cost in a private college is close to $30,000 per annum and averaging at $10,000 for public colleges and universities. Students from lower income families therefore have great difficulty attending higher education without the help of the Pell grant.
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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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