Pell Grant Payment Information
- The Pell Grant, a United States government-issued educational subsidy, was introduced in 1972 as the Basic Educational Opportunity Grant. It was designed for students from low-income families and opened opportunities that allowed them a realistic chance to pursue their higher education goals at many colleges and universities. The Pell Grant is named after a United States Senator from Rhode Island named Claiborne Pell who sponsored the grant during his term. The grant is now available through the U.S. Department of Education.
- The first step in determining your eligibility for the Pell Grant is to fill out a FAFSA (Free Application for Federal Aid) form. The United States Department of Education will then determine your eligibility based on calculations that categorize your family size, income and tax standing, from which the U.S. Department of Education will decide exactly how much funding is available to you. Funding is only available for undergraduates and for up to 18 college semesters. Requirements are that you must be a U.S. citizen, be enrolled in college at least 6 credit hours and you must be a first-time undergraduate student (see FAFSA's website for all applicable criteria).
- The greatest benefit of obtaining a Pell Grant is that you are not required to pay the grant back. If you are a student from a low-income background, the cost of higher education may be considerably offset by receipt of a Pell Grant. The application process is relatively easy and non-traditional students such as house-wives returning to school or single parents are especially favored when applying for this particular grant; however, anyone with a recent background of financial difficulty is encouraged to apply by the U.S. Department of Education.
- When you are accepted by an institution of higher learning, immediately familiarize yourself with their financial aid department. Once there, express to them that you are interested in learning more information about the Pell Grant and how you can apply. More than likely they will direct you to FAFSA's website and the instructions there are relatively simple. If you are a dependent student (which is categorized by being claimed by your parents on their income tax returns), be sure to ask the financial aid representative at your school about your specific eligibility.
- Make frequent visits to FAFSA's homepage as guidelines and requirements change almost every year. If you are no longer eligible for a Pell Grant, find out which grants you are eligible for through FAFSA's website. Sometimes, if you are required to take summer courses, the Pell Grant may not cover your classes so be sure, you keep abreast with how much funding was made available to you during your winter and spring semesters and if any grant money will be available should you decide to take classes during the summer. Staying informed ensures that you will not be disappointed in a rejection of financial aid should extra credit hours be required.