In today’s economy it is becoming increasingly important to obtain a college education. Unfortunately for many American students coming up with a way to pay increasing college tuition is becoming more and more difficult. Thankfully the federal government has set up several college grant funds that award money to college students to help pay for the costs of obtaining a secondary degree.
One of the most popular college grants is the Federal Pell Grant. The Federal Pell Grant Program provides need-based grants to low-income undergraduate students. Should a student qualify for a Federal Pell Grant they can use the funds at any of the approximately 5400 participating institutions.
In order to qualify for a Federal Pell Grant there are certain requirements that a student must meet. These requirements include being an undergraduate or enrolled in an eligible post baccalaureate teaching credential program, and not be incarcerated in a federal or state prison. Also, if a student is enrolled in a program that will take longer than 4 years to complete he is only eligible for a Federal Pell Grant during the first four academic years of the program.
The amount a student will receive if he meets the general eligibility standards for FSA aid also has many variables to consider. The student’s expected family contribution, cost of attendance determined by the university, student’s enrollment status of either full time or part time, and weather the student will attend school for a full academic year or less all play a role in determining how much the Federal Pell Grant will be worth.
If you are currently looking to attend college but do not have the money to pay for your degree applying for a Federal Pell Grant is a great way to receive some extra money to help pay for your college costs. There are many factors that will be taken into consideration when you apply for a Federal Pell Grant but once you are approved you will be able to use the grant money at 5400 institutions which will allow you to pursue any type of college degree you wish.