Pell Grants

Those currently attending college as an undergraduate student or looking to attend college in the near future will benefit greatly from some core knowledge concerning Pell Grants, as well as the basics on how to apply for a Pell Grant.  Pell grants are a form of financial aid for students attending qualifying postsecondary educational institutions; however, they are a unique form of federal financial aid in that they do not have to be repaid after students graduate.  The government provides this form of student aid to those who qualify as being in financial need of federal assistance as a way of making higher education more accessible to those who are in a financial situation which may not be conducive to covering the costs of education out of pocket.

History of the Pell Grant
The Pell Grant, as we know it today, is essentially an extension of the Higher Education Act of 1965, which was passed by Congress under the leadership of President Lyndon B. Johnson in 1965.  This legislation was originally passed by President Johnson and his administration as a means to benefit students of lower income who wished to obtain higher education, as well as to improve higher education in general.  The program constructed under the HEA not only aimed to help students through grants and low interest loans, but also awarded educational institutions with funds to improve their educational process.  The program originally initiated by the HEA in 1965 has since been refined to become what it is today, with the first movements for program reformation initiated by Senator Claiborne Pell, after whom the Pell Grant was named.

Applying for a Pell Grant
While not all students are eligible to receive a Federal Pell Grant, students are encouraged to find out if they qualify for this type of financial assistance, as it can prevent financial hardships during a student’s time at school, as well as keep them from unmanageable student loan payments after graduation.  For this reason, the government makes it very simple to apply for a Pell Grant.  To apply for a Pell Grant, students must simply submit the Free Application for Federal Student Aid, otherwise known as the FAFSA.  You can find this form and submission instructions at the following location: http://www.fafsa.ed.gov/.   Students should first fill out the FAFSA upon entering their first year of college, and will need to update the information in this form each year they are in college to determine financial aid eligibility for each school year.

Pell Grant Qualification and Eligibility
As mentioned above, not all students will qualify for a Federal Pell Grant.  Eligibility is based on each student’s specific financial need, which is determined based on the information provided by students when they apply for a Pell Grant and other forms of federal financial aid through the Free Application for Federal Student Aid.  When filling out the FAFSA, students are required to provide information on their individual financial situation, as well as the financial information pertaining to their parents.  From this information, the government comes up with a figure which is referred to as the expected family contribution, or EFC.  This is the figure they use to determine whether individuals are eligible for a Federal Pell Grant.

Learning how to apply for a Pell Grant and being educated on the specifics of eligibility is a great start.  Beyond meeting the financial qualifications to be granted a Pell Grant, students must also meet a few additional requirements.  They must be an undergraduate student who has not yet earned a bachelor’s degree of any kind.  Students must also be either a U.S. citizen or an eligible non-citizen.  Most students must also have a high school diploma or a GED.  In the absence of either of these, exceptions are made for very few students who have demonstrated a specific ability to benefit from the program.