What Can You Use a Pell Grant For?
The Federal Pell Grant is awarded to individuals considered to be financially disadvantaged to help them pursue higher education.
Identification
The Pell Grant does not have to be repaid, and eligible applicants are determined by specific criteria. Generally, the Pell Grant is awarded only to students who have not yet received their first bachelor's degree. An applicant must also meet all of the eligibility requirements dictated by the U.S. Department of Education: He must demonstrate financial need, be a U.S. citizen or an eligible non-citizen, have a high school diploma or GED, and show evidence of the ability to succeed in his chosen program.
Significance
The grants are intended to encourage individuals to obtain a higher level of education despite financial limitations. Most postsecondary institutions participate in the program.
Function
Pell Grants are dispensed in one of two ways: Either the institution credits the funds to a student's Federal Pell Grant account, or the school pays the student directly. In some cases it is a combination of the two. Pell Grants are federal financial aid, so the government controls the duration and time frame in which the grant has to be paid. A student awarded a Pell Grant must receive the grant money for each semester, twice per academic year.
Features
The specific amount of the grant may change each year. The awarded amount reflects available funding and the student's individual circumstances, including income, tuition cost and intended enrollment status (full time or part time).
Considerations
To be considered for a Pell Grant, a student must complete the Free Application for Federal Student Aid (FAFSA). Once the FAFSA is filed a Student Aid Report (SAR) is sent to the student, and an Institutional Student Information Record (ISIR) is sent to the school. Both documents notify the student of her qualification for the Pell Grant.
Before applying for a Pell Grant, students can check the approved postsecondary institutions listed in the Guide to U.S. Department of Education Programs. This guide contains information about all department programs, including objectives, funding, academics, admissions criteria and contact information.
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