Pell Grants
The Pell Grant program is the country's largest grant program and provides a foundation for all additional aid.
Pell Grants are awarded to every qualified undergraduate student and the cool part, they don't have to be repaid. You must qualify financially, be in an eligible program at an eligible school or college, and not have already earned a bachelor's or professional degree. You can receive only one Pell Grant a year.
When you file the FAFSA, you're automatically considered for a Pell Grant.
Recently, Pell Grants for full-time students ranged from $400 to $4,050. You also can receive a Pell Grant if you're enrolled less than half time.
Who is Eligible?
Students with family incomes up to $50,000 may be eligible for Pell Grants. However, most Pell awards go to students with family incomes below $20,000. There is no charge to apply for a Federal Pell Grant.
How Much Money Can You Get?
That's the important question right?
In 2004-2005, the grants ranged from $400 to $4,050. The average grant in 2004-2005 was approximately $2,230.
Where Can You Use the Pell Grant?
The grants may be used at almost any school the student chooses to attend. Financial aid administrators at each school can tell you whether the institution and its programs are eligible for the Federal Pell Grant Program.
If I am eligible, how will I get the Pell Grant money?
Your school can apply Pell Grant funds to your school costs, pay you directly (usually by check), or combine these methods. The school must tell you in writing how much your award will be and how and when you'll be paid. Schools must disburse funds at least once per term (semester, trimester, or quarter). Schools that do not use semesters, trimesters, or quarters must disburse funds at least twice per academic year.
Federal Supplemental Educational Opportunity Grants(FSEOG)
