Federal Grants - A Look at Pell Grants
Among the several federal grants available nowadays is one known as the Pell Grant. The Pell Grant is an educational federal grant sponsored by the one of the 26 federal agencies that works on grants, namely the U.S Department of Education. The purpose of this grant is to provide financial aid to post-secondary education to students from poor families. A Pell Grant does not have to be repaid. Only those undergraduate students who have not earned a bachelor's degree are eligible to receive the Pell Grant. Sometimes a student enrolled in a post baccalaureate degree leading to a teaching certification or licensure might be an eligible candidate to receive the grant.
The amount a needy student receives through the federal grants like the Pell Grant depends on the financial need and the expected family contribution (EFC), which is calculated using the information provided in the Free Application for Federal Student Aid (FAFSA). Other things that are considered include the cost to attend school, the student's status as either a part-time or full-time student and if the student plans to attend school throughout the academic year. The student has to identify that the school which he plans to take attend participates in the Pell Grant program before applying for the funds.
The first step in applying for a Pell Grant fund and most other federal grants begins when the student submits the Free Application for Federal student Aid (FAFSA). The student's eligibility for a Pell Grant aid and other federal, state and school aid would be assessed using the FAFSA. The student receives the Student Aid Report (SAR). The schools indicated on the FAFSA will receive a copy of the FAFSA and will consider the student for the Pell Grant. The school decides how to disburse the grant amount. It may be directly absorbed into the school's cost, paid by check to the student or a combination of both.
The Federal Pell Grant funds can be used to pay towards the tuition cost, books and supplies the student will need, or even towards the travel and transportation charges. The fees towards college tuition are on the rise, and today Pell Grant pays much less towards the total costs for the whole year than it did when it was first introduced. The U.S. department of Education Federal Grants lists several educational grants which can be found at their official website. Besides federal grants, students could explore the options for grants sponsored by the state government and beyond.