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Federal Pell GrantFederal Pell Grant DescriptionThe Federal Pell Grant Program provides need-based grants to low-income undergraduate and certain post baccalaureate students to promote access to post secondary education. Students may use their grants at any one of approximately 5,400 participating post secondary institutions. Grant amounts are dependent on:
Financial need is determined by the U.S. Department of Education using a standard formula, established by Congress, to evaluate the financial information reported on the Free Application for Federal Student Aid (FAFSA) and to determine the family EFC. The fundamental elements in this standard formula are the student's income (and assets if the student is independent), the parents' income and assets (if the student is dependent), the family's household size, and the number of family members (excluding parents) attending post secondary institutions. The EFC is the sum of: (1) a percentage of net income (remaining income after subtracting allowances for basic living expenses and taxes) and (2) a percentage of net assets (assets remaining after subtracting an asset protection allowance). Different assessment rates and allowances are used for dependent students, independent students without dependents, and independent students with dependents. After filing a FAFSA, the student receives a Student Aid Report (SAR), or the institution receives an Institutional Student Information Record (ISIR), which notifies the student if he or she is eligible for a Federal Pell Grant and provides the student's EFC. What is a Pell Grant?A Federal Pell Grant, unlike a loan, does not have to be repaid. Pell Grants are awarded usually only to undergraduate students who have not earned a bachelor's or a professional degree. (In some cases, however, a student enrolled in a post-baccalaureate teacher certification program might receive a Pell Grant.) Pell Grants are considered a foundation of federal financial aid, to which aid from other federal and nonfederal sources might be added. How much can I get?The maximum Pell Grant award for the 2009-10 award year (July 1, 2009 to June 30, 2010) is $5,350. The maximum Pell grant award for the 2010-11 award year (July 1, 2010 to June 30, 2011), the maximum award is $5,550. The maximum amount can change each award year and depends on program funding. The amount you get, though, will depend not only on your financial need, but also on your costs to attend school, your status as a full-time or part-time student, and your plans to attend school for a full academic year or less. For more information students need to check with their financial aid office to determine eligibility for a second Pell Grant award. Students may not receive Federal Pell Grant funds from more than one school at a time. With a few exceptions, Federal Pell Grants are available only to undergraduate students for a maximum lifetime limit of 18 semesters or its equivalent. Federal Pell Grant Contact InformationFederal Student Aid Information Center (FSAIC) |
