Should You Consult a Pell Grant FAQ?

For many people, the process of finding and getting the money they need to further their education can be difficult and frustrating. While there are many options out there, they all come with questions. One of the most popular forms of funding available is the federal Pell Grant. The Pell is one of the simplest forms of funding to understand. Still many people still have Pell Grant questions.

First we must answer the most basic of any question in regard to this Grant award, what is a federal Pell Grant? The Pell is a a form of federal funding that is set up to help students from low income families be able to afford college. This funding is different from loans, in the fact that the proceeds of the award do not ever have to be paid back unless the student does something highly irregular and pockets the cash after dropping out of school during mid-semester.

There are certain requirements that one must meet to be eligible to receive this grant. A student must come from a family with a strong economic need for help. Students are able to apply for the Pell if their family income is below $50,000. However, students with a family income of less than $30,000 typically make up the majority of recipients. Pell grants help to provide money for tuition, books, room and board and other education fees. The awarded amount of a Pell is dependent on the families' economic need. For the 2010 school year, the maximum amount awarded will be $5,500, with this amount being adjusted yearly.

Students who wish to apply for this award must also have a GED or a high school diploma. Another eligibility requirement is that students must be United States citizen or an eligible non-citizen. Students who have already received a bachelor's degree are also not eligible to receive the Pell. Only students who are working towards their first bachelor's degree can apply for this grant.

Applying for the Pell is easy, and can be done by filling out a free application for federal student aid, otherwise known as the FASFA. While there are other common concerns that students may have about the Pell, this basic information is what you really need to know if you are considering applying for this award, and if you need to anything more specific, you should not hesitate to consult with your college's Pell Grant faq that should be found on their website.