If the fear that your financial situation will prevent you from realizing your dream of going to the college to study as always been on your mind, so not give up hope. Pell grant is available to help you achieve your dreams. This grant provides you with the funding that you need to make your dream of earning a post-secondary degree a reality.
Pell grant is a federally funded grant that provides financial assistance to aspiring college graduates. Part of the cost of your post-secondary education can be covered with the funds provided by the grant awarded to you. It serves as the largest provider of grant funding for college in the United States. Millions of students are awarded the Pell Grant each year and receive tens of billions of dollars in financial assistance.
Before the Pell grant can be awarded to anyone, the individual as to be eligible for it and there are requirements before one can be eligible for the grant. The Pell Grant is issued to prospective college students that demonstrate a need for financial assistance. To determine if you do require financial assistance, the US Department of Education will assess your Expected Family Income Contribution (EFC) the amount of money your family would be able to contribute toward your college education – and compare it to the anticipated costs that are associated with attending college, including your tuition, housing, food, supplies, books, and so on.
Below are the requirements you are expected to meet before you are eligible for the Pell grant;
• Be either an undergraduate student who is working toward your four-year degree or post-baccalaureate teaching certification
• You must be enrolled or accepted as a student in a post-secondary degree or certification program
• Either hold a high school diploma, a GED, or have successfully finished your high school education via a home-school setting that has been approved by the Department of Education
• Either be a citizen of the United States or a non-citizen that is eligible to apply for the grant
The amount of funds provided through the Pell grant every year is not constant. An example can be seen during the 2016-2017 academic year where the annual amount was $5,815, and in the 2017-2018 academic years, the annual amount was $5,920. Your specific financial need, as well as other factors; whether you are a full or a part-time student influences the amount you will receive from the Pell grant.
Additionally, you can only use this grant for a total of 12 semesters; so, if it takes you longer than 12 semesters to complete your undergraduate degree, you will no longer be able to use the Pell Grant, even if there is an academic need and you meet the other above-mentioned criteria. And lastly, the Pell Grant will only award funding for one academic institution at a time.
You will need to complete a Free Application for Federal Student Aid (FASFA) in order to apply for the Pell grant. Filing is quick and easy and can be done right online. Speak your school’s financial aid office to find out when to file your FASFA so that you can ensure you get in before the deadline.