What is a Federal Pell Grant?
A Federal Pell Grant, unlike student loans, does
not have to be repaid. Generally, Pell Grants are awarded only to undergraduate
students who have not earned a bachelor’s or professional degree. (A professional
degree is usually obtained after a bachelor’s degree in a field such as medicine,
law, or dentistry.) In some cases, you might receive a Pell Grant for attending
a post-baccalaureate teacher certificate program.
Pell Grants are usually a foundation of financial aid,
to which aid from other federal and nonfederal sources might be added.
How do I qualify?
To determine if you’re eligible to receive a Pell Grant, the U.S. Department of
Education uses a standard formula, established by Congress, to evaluate the information
you report when you apply. The formula produces an EFC number. Your SAR contains
this number, and this number will determine if you’re eligible for a Pell Grant
and for how much.
How much money can I get?
The maximum Pell Grant award for the 2009-2010 award year is $5,350. The maximum
can change yearly and depends on program funding. How much you get will depend not
only on your EFC but also on your
Cost Of Attendance (COA), whether you’re a full-time or part-time student,
and whether you attend school for a full
academic year or less. You may receive only one Pell Grant in an award year,
and you may not receive Pell Grant funds from more than one school at a time.
How will I be paid?
Your school may credit the Pell Grant funds to your school account, pay you directly
(usually by check), or combine these methods. The school must tell you in writing
how and when you’ll be paid and how much your Pell Grant will be. Schools must pay
you at least once per term (semester, trimester, or quarter). Schools that don’t
use formally defined, traditional terms must pay you at least twice per academic
year.*
Can I receive a Federal Pell Grant if I’m enrolled less than half time?
Yes, if you’re otherwise eligible. You won’t receive as much as if you were enrolled
full time, but your school must disburse your Pell Grant funds in accordance with
your enrollment status and can’t refuse you an award simply because you’re enrolled
less than half time.