When they complete the FAFSA throughout their time in college, their Pell Grant eligibility is reassessed.

Pell Grants are need-based grants issued to students who demonstrate financial need to help pay for college.

Although $6,345 is the maximum Pell Grant scheduled award for the 2020-2021 award year, institutions are reminded that beginning with the 2017-2018 award year, a student may be eligible to receive Pell Grant funds for up to 150 percent of the student’s Pell Grant scheduled award for an award year. Right now, there's one exception to the "must be an undergraduate" rule. Pell Grants are awarded by the federal US government to help students pay for college or vocational school. How Much is a Pell Grant? Your Pell grant can't exceed your cost of attendance at school. Though the Pell grant is not awarded on a first come, first served basis, it is best to do it as quickly as possible. Financial need is determined by the U.S. Department of Education using a standard formula, established by Congress, to evaluate the financial information reported on the Free Application for Federal Student Aid (FAFSA) and to determine the family EFC. Knowing how much aid you qualify for can help you decide where to attend college. Since the amount of a scheduled Pell Grant award you can receive each award year is equal to 100%, the six-year equivalent is 600%. A Federal Pell Grant, unlike a loan, does not have to be repaid. However, if you pay some of those costs out of pocket, you can use any excess Pell grant money to offset those expenses. Federal Pell Grant lifetime eligibility calculator. Basis for Receiving Pell Grants. (In some cases, however, a student enrolled in a postbaccalaureate teacher certification program might receive a Federal Pell Grant.) Though you'll use the same pin, you still have to file. The grant money is first applied to eligible expenses owed to the school. If you're hoping to use the Pell Grant after you get your four-year degree, make sure that you're qualified. It is specifically designed to make college more affordable for students who have a financial need and doesn’t come with virtually any of the trappings associated with student loans. Federal Pell Grants. You can be at a traditional 4-year school or a vocational or trade school to receive Pell grant. Every undergraduate student who is able to prove financial need is eligible to receive a Pell grant award. Therefore, you won't receive a Pell grant if you are completing a postgraduate degree, such as a master's or a doctorate. Before any school’s financial aid office can give you Pell grant funds, it … Since the amount of a scheduled Pell Grant award you can receive each award year is equal to 100%, the six-year equivalent is 600%. To get a Pell grant, you must complete the... Free Application for Federal Student Aid ; Quick information on Pell grants: A Federal Pell Grant, unlike a loan, does not have to be repaid. You can learn more about Pell Grant minimum/maximum awards here. The Pell Grant won’t affect the amount of other federal financial aid available to you. Federal Pell Grants usually are awarded only to undergraduate students who display exceptional financial need and have not earned a bachelor's, graduate, or professional degree. Eligible students are limited to a lifetime eligibility limit of 12 semesters (six years) in which they can receive the Pell grant. Pell Grants are generally for students working toward their first bachelor's degree. To apply for a Federal Pell Grant, you will need to submit your free application for Federal Student Aid (FAFSA.) Figuring out whether you're eligible can be confusing, but this post will guide you through all the eligibility requirements you should know about if you want to apply for a federal Pell Grant. To apply for federal grants a student must submit the Free Application for Federal Student Aid (FAFSA). Let’s start with the basic information to ensure you will get your Pell Grant. When students accept this award, their school processes the grant for them and applies it to their student account.