What is a Federal Pell Grant?

A Federal Pell Grant, unlike a loan, does not have to be repaid. Pell Grants are typically awarded only to undergraduate students who have not earned a bachelor's degree. Under certain conditions, students enrolled in a postbaccalaureate teacher credential program may be eligible to receive Federal Pell Grants. For many students, Federal Pell Grants provide a foundation of financial aid to which other aid may be added.

How do I qualify?

To determine if you're eligible financially, the U.S. Department of Education uses a standard formula, established by Congress, to evaluate the information you report when you apply. The formula produces an Expected Family Contribution (EFC) number. Your Student Aid Report (SAR) contains this number and will tell you if you are eligible. You will receive your SAR at your home address about 4 weeks after mailing your FAFSA to the federal processor.

How much money can I get?

Awards for the 2008-2009 award year (July 1, 2008 to June 30, 2009) will range from $400 to $4,731. You can receive only one Pell Grant in an award year. How much you get will depend on your EFC, your cost of attendance, the period of time (number of semesters, quarters) in which you enroll, and the number of units in which you enroll for each term. You may not receive Pell Grant funds from more than one school at a time.

How will I be paid?

Your school can either credit the Pell Grant funds to your school account, pay you directly (usually by check), or combine these methods. The school must tell you in writing how and when you'll be paid and how much your award will be. Schools must pay you at least once per term (semester, trimester, or quarter).

Can I receive a Federal Pell Grant if I am enrolled less than half time?

If you are an undergraduate and otherwise eligible you can receive a Federal Pell Grant for less than half-time enrollment. You won't receive as much as if you were enrolled full time since your school must disburse your Pell Grant funds in accordance with your enrollment status. Postbaccalaureate students enrolled in teacher credential programs must be enrolled at least half time to receive a Federal Pell Grant.

[ top ]