College tuition can be offset with the help from a Pell Grant.
According to the United States Department of Education, a Pell Grant is a United States federal grant that does not need to be paid back. Calculations based on income and other factors determine eligibility.
Determining Factors
After applying for federal financial aid, the federal government determines the EFC, or expected family contribution, toward the student's educational need. According to U.S. News & World Report, a low EFC, such as $4,600.00 and below, triggers the eligibility of the Pell Grant for the student's upcoming school year. Having a high EFC makes the student ineligible for this grant program.
Features
Based on the EFC, Pell Grant eligibility factors in both the student's and parents' income, the size of the family, and how many family members are attending post-secondary schools, asserts the U.S. Department of Education.
Interesting Fact
To compete with inflation and rising educational costs, the Pell Grant program is adding more money to the usual amounts, and allowing more students to be eligible in the coming years, says U.S. News & World Report.
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