Pell Grant: Award Amounts and Eligibility for the Federal Pell Grant

Pell grants are unique types of educational funding for students with financial need. In most cases the federal Pell grant is awarded to students that come from low income families or are otherwise at a disadvantage. The program was created and is managed by the United States Department of Education as a means to assist underprivileged Americans with a way of obtaining money for college that never has to be repaid.
If you need assistance paying for school and you think a Pell grant will help, gaining an understanding of award amounts and eligibility requirements is essential to ensure that you apply via the FAFSA correctly the first time.

The amount of Pell grant that you can be awarded depends upon your EFC or Expected Family Contribution. This is a calculation based upon information you provide on the FAFSA to determine what your family’s monetary “contribution” should be to your education. The EFC helps ensure that both the US government and individual families share in the costs associated with educating children. The less income your family earns, then the more likely it is that you will get the Pell grant. Families that demonstrate significant financial need may be able to get the maximum yearly amount, which is $5500. The smallest award available under this program is $100.

Conditions for the federal Pell grant require that students be US citizens enrolled at least half-time at an accredited institution. Pell grant recipients must not have previously earn a bachelor’s degree, and they must not be in arrears on any federal student loans. Students are only permitted one award per year of their undergraduate program, except in cases where a student is rapidly completing a degree program that will lead to a certification in teaching or another public service degree. In order to learn if you qualify, you can talk to a financial aid representative at your school, or you can automatically apply by filling out a FAFSA for the Pell grant.

Find out more details and apply for the Pell Grant right now.