Financial Aid - Pell Grant - How To Qualify For A Pell Grant - College education, as everyone knows, is one of the most expensive levels of education; but in order to become a professional or be eligible for a broader range of high-paying jobs, a college diploma will definitely get you through. In this day and age; however, obtaining that college diploma will be a challenge, mentally and financially. Thankfully, there is room for persistent college students and high school graduates to become part of a college community without spending for one's schooling. Scholarships and grants, such as Pell Grant financial aid, make that possible.
Financial Aid - Pell Grant - How To Qualify For A Pell Grant
By Anne Jones
Jan 23, 2010 - 5:46:28 PM
College education, as everyone knows, is one of the most expensive levels of education; but in order to become a professional or be eligible for a broader range of high-paying jobs, a college diploma will definitely get you through. In this day and age; however, obtaining that college diploma will be a challenge, mentally and financially. Thankfully, there is room for persistent college students and high school graduates to become part of a college community without spending for one's schooling. Scholarships and grants, such as Pell Grant financial aid, make that possible.
One of the best scholarship programs today that is very famous among high school, college and graduate school students alike is the Federal Pell Grant. The Pell Grant aid is a financial need formula created by the US Government, under the legislation Higher Education Act of 1965. It provides support for students who are incapable of attending college or any form of higher education. Consequently, this financial aid grant provides poor families with a cash grant that is intended to support their schooling for a year or until the grant expires. In order to apply for the program, interested students need to apply for a FAFSA financial aid. Once you have submitted your FAFSA form, you are officially a candidate for the grant.
Federal Pell Grant financial aid is one of the most generous among college grants. It offers a cash grant as high as $5, 350 and can go as high as $5, 800 in the next year or so. A total of $12.5 Billion has been allotted for this program, and that amount is rising every year. That would mean, for aspiring college students, a Pell Grant can accommodate a lot of students; hence, you will have more chances of qualifying for this program.
The Department of Education goes over the financial capabilities or lack thereof, of the students' families, when deciding who will be included in the lucky group of scholars. The EFC in this case, is a very important document that could affect the decisions of the sponsors. Most students who have qualified for Pell Grant financial aid came from families with a yearly income of less than $41, 000. As mentioned, the results come from the EFC form that is submitted by the applicants.
A Federal Pell Grant, just like most scholarships, need not be reimbursed or paid by its scholars after college. If you are an applicant, think of it as free money being handed down to you by your school or the government to help you out in your studies. Another important detail which you must be acquainted with about Pell Grant funds is the method of transfer. The school or the institution you wish to pursue your studies under can decide whether to offset your balance in the school using your Pell Grant funds or release a monthly check to you. This amount can then be used at your discretion; however, keep in mind that the Pell Grant financial aid funds should go directly to your schooling.
Pell Grant financial aid has been a top choice among aspiring college students and scholars. Not only does it supply students with decent financial support, it is also a trusted scholarship program that has never failed recipients. The Pell Grant program can assist college students with any course they desire, for free. For aspiring professionals, this Grant can provide you with the bridge to a wonderful future.
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