Friday, September 4, 2015

Do You Qualify For the $5,775 Pell Grant?

College can be extremely stressful. From taking a full load of classes, working to get internships and professional experience, figuring out how to find a job after graduation are big weights on every student’s backs, but the most pressing issue is how to pay your way through school so you can graduate with the degree you are working toward.

Some schools are more generous with giving scholarships, yet making ends meet is a constant issue for students in higher education.

If you’re still trying to figure out how you’re going to afford school, without going deep into debt with student loans, then perhaps you should look into the Federal Pell Grant.

The Pell Grant is a grant in the sum of up to $5,775, which is awarded to students who are eligible for federal student aid. The nice thing about receiving a grant, is that unlike student loans, or any loans for that matter, grants do not have to be repaid. It is basically free money that students can apply to receive to help them pay for their schooling. This means there are no strings attached and no stress of inflating interest rates and bills that could grow and haunt you for years to come.

In order to receive the grant, student must prove their eligibility by filling out the Free Application for Federal Student Aid, otherwise known as the FAFSA form. This process can be time consuming, and can require lots of personal and financial information from the student and their guardians, but for those who need the extra money for college taking the time to fill it out can be extremely worthwhile.

If you’re interested in applying for the Pell Grant, you should check to see if you are eligible before going through the lengthy process of filling out the FAFSA form.

To be eligible for federal student aid, and the Pell Grant of up to $5,775, there are a few necessary requirements that need to be met:

First off, the student must be going to school for their undergraduate or professional degree. Further degrees are typically not accepted to apply for the grant, with the exception of some students enrolled in a post baccalaureate teacher certification program, as according to www.studentaid.ed.gov/.

Students must also be U.S. citizens, or eligible non-citizens authorized within the U.S.

Those wishing to apply must sign their FAFSA form, acknowledging that they intend to use the money for educational purposes, and also clarify that they do not currently owe the government a refund on other loans.

Once you decide that you meet the requirements and choose to fill out the FAFSA form to apply, there are some additional things you should know about the Pell Grant:

As for the 2015-2016 school year, the maximum grant awarded to a student is $5,775. However, this does not mean that each individual will receive this allotted amount. The amount that will be given to the student will be determined by a number of factors based on the information filled out on the FAFSA form. Depending on the income and financial status of the student, the need for the money will be determined and students will be rewarded grants based on their level of need.

Also, this grant can be rewarded for up to 12 semesters of work, or six years, as long as they continue working towards their degrees, and continue to fill out and update their FAFSA information each year.

However, if students perform poorly in classes and their grades reflect so, the grant can be discontinued. In order to keep getting the Pell Grant, students must receive satisfactory grades.

If these seem like reasonable requirements for students to receive the Pell Grant, fill out the FAFSA from at fafsa.ed.gov, to apply.

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Author: Mollie
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