Many believe higher education is out of their reach because of the cost. There is a possibility, however, that this may not be the case. The reason for this is that the government offers a variety of financial aid opportunities that students can take advantage of, one of which is the Pell Grant.
Depending on the amount of the grant, students may be able to receive up to $7,395* per year in financial aid. Do you want to know what the most exciting part is? The funds being awarded are grants, so there is no need to reimburse them.
Many students are unaware that they have this option, which is very unfortunate. In this instance, it is extremely critical that you understand what this support opportunity offers and what you may gain from it.
Pell Grants – what are they, and how do they work?
This type of grant has been around for quite some time. In 1965, the Higher Education Act made it possible for colleges to establish these programs. This act aimed to provide more support to middle-class and low-income students seeking higher education and struggling to pay for it.
According to the Pell Grant website, the grant can cover up to $7,395* for the academic year 2022-2023.
Pell Grants: How do I get one?
To get a Pell Grant, you will have to apply for one, but you will have to submit your application to do so! The good news is that applying for a Pell Grant is very simple. You must fill out a Free Application for Federal Student Aid (FAFSA) to submit an application. In addition to Pell Grants, this application can also tell you if you’re eligible for other financial aid! To keep your eligibility and continue receiving a Pell Grant, you’ll have to resubmit your FAFSA yearly.
Pell Grants: Who Qualifies?
Since the Pell Grant is designed to help students in need, it is not available to everyone. To qualify for the program, students must meet the following requirements:
- Financial need must be demonstrated.
- Being a citizen in good standing.
- A student who is enrolled full-time or part-time in an undergraduate program. So they can’t have a bachelor’s, master’s, or professional degree.
- A postbaccalaureate teacher certification program (only in some cases if you’re not an undergraduate).
Remember that if you want to keep your Pell Grant eligibility, you must resubmit your FAFSA yearly.
Pell Grants won’t be available to inmates in state or federal prisons or those subject to an involuntary civil commitment for a forcible (or nonforcible) sexual offense.
Does your Pell Grant have to be repaid at some point?
In most cases, you will not be required to repay your Pell Grant. This is because the form of this financial aid is a grant. The grant program is a form of financial assistance that provides free money to students who are eligible to receive it. Students may, however, need to repay their grants in some instances. The following are some scenarios that might occur: if you withdraw from school, your enrollment status changes, or your level of financial need changes due to additional financial aid.
Pell Grants: What’s the deadline for applying?
While there is no specific deadline, completing your FAFSA as soon as possible is a good idea. Your FAFSA may also be used to apply for additional financial aid opportunities with deadlines or funding limitations. Besides the Pell Grant, there are other financial aid deadlines to be aware of that impact other financial aid opportunities. Your school’s financial aid office can provide you with more information on these deadlines.
Getting a higher education may seem out of reach for students in financial need. This may not be the case. Under the federal Pell Grant, qualifying students can get up to $$7,395* a year in funds they don’t have to pay back. It should be noted, however, that this amount is subject to change every year! Please contact your school’s financial aid office if you have any questions concerning financial aid. You will be able to receive assistance with completing your FAFSA to apply and ask any questions you may have.