- Posted by maedstudent on February 17, 2008
Pell Grants are fantastic and a great way for a student to get funding for education. Pells are recommended because the funds are a grant, meaning that the funds do not have to paid back. The maximum award amount for the 2007-08 school year is $4,310. The cost of attendance and financial need are some of the elements required in order to get the award. Another determining fact of eligibility and award amount would be your status as a student. If you attend full-time then of course, your amounts will be higher then those that do not attend full-time. Students can apply for the Pell grants at their local financial aid office by filling out a Free Application for Financial Student Aid, better known as a FAFSA form, and generally funds are disburse twice per year, or once per term. The following website www.FAFSA.gov can be used to appy or check with the local financial aid department at your school. Proceeds are used to pay for tuition and then the rest goes to the student tax free as a grant and does not require repayment as long the term or semester is completed. As long as the need continues students can re apply every year as an undergraduate only. Once a student graduates with the undergraduate degree there becomes no financial need in the Governments eyes so make sure that you take advantage of the free money out there that is awarded every year. Grant award amounts go to a max of $4,731 for the 2008-09 school year, and a school year is considered July 1st to June 30th.
For more details on Pell Grants and student financial aid visit the following web-site.
http://studentaid.ed.gov/PORTALSWebApp/students/english/PellGrants.jsp