What is a Federal Pell Grant?

A Federal Pell Grant is a loan afforded to low-income students who need help paying for higher education. Over 5,000 colleges and universities across the nation accept the Pell Grant, and more than 5 million students currently receive this loan to help fund their education.

How Much is a Pell Grant Worth?

The amount of financial aid you can receive depends on several factors, including:

  • the applicant's Expected Family Contribution (EFC) - this includes student income, parent income, parent assets, and family size;
  • the cost of attending the institution;
  • the length of attendance; and
  • the student's enrollment status (i.e. full- or part-time).

Am I Eligible?

To determine eligibility for a Pell Grant, each student must fill out a Free Application for Federal Student Aid (FAFSA). The FAFSA will determine how much money you can receive to pay for your higher education. It takes into account the four factors listed above. FAFSA applications are available on-line and at most high schools, colleges, libraries, and state agencies.

Pell Grant Fast Facts

If you are considering applying for a Pell Grant, it is important to be aware of the following information.

  •     * You may not receive a Pell Grant if you simultaneously attend more than one school.
  •     * If your EFC is less than $60,000, you may be eligible for a Pell Grant. Most recipients have an EFC below $30,000.

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