What is the Federal Pell Grant Application

The Federal Pell Grant is just one of the many ways that the U.S. Federal government provides funds for American students trying to pay for higher education. In addition to the Pell Grant the government also provides low interest loans (far lower than private loans). What makes the Pell Grant different then Federal Loans is that it never needs to be paid back, in essence making it free money for college if eligible.

Eligibility is the biggest part of securing a Federal Pell Grant. There are three main criteria that must be met in order to be considered for this grant. The first is that the applicant must be a U.S. citizen and this requirement applies to all Federal Financial Aid. The second requirement is that the applicant must be in a program on their way to a Bachelor's Degree. This means that the applicant can't obtain a Pell Grant just to take some courses or for education beyond a Bachelor's degree. A side note to this is that some post-undergraduate students could be eligible for this grant as the government is beginning to promote further education beyond undergraduate).

A student attempting to obtain a second Bachelor's degree is also not eligible. The final requirement is that the student must be matriculated into their degree program; basically they need to be fully accepted into the school and on a path to a degree.

With those requirements satisfied, a student who needs extra money for school may be eligible for the Federal Pell Grant. The actual application is a breeze and is actually combined into one application for all Federal Financial Aid called the FAFSA. The FAFSA is free and can be filled out online at http://www.fafsa.ed.gov/ easily and effectively. This application is used by not only the federal government but also by the colleges to determine a student's financial needs, students who don't fill out this form each year are potentially missing out on thousands a year in grant money, low interest loans, and additional grant money from the schools.

The FAFSA is designed to determine the student's family income and the average expected contribution that the family could make each year for the student's education. Based on this number the government determines how much aid a student might need in order to attend school for that academic year. The Pell Grant comes under this determination and is generally available to mainly low-income students. You don't have to fill out a separate application for the Pell Grant or any of the federal loans, the FAFSA form will determine eligibility and the school's Financial Aid office will use this information to determine if more financial aid is needed.

Applying for the Pell Grant is as easy as filling out your FAFSA form and the good news is that each year the Pell Grant generally increases. As of the 2008-2009 a student can receive up to $4631 dollar in the form of a Pell Grant, money that doesn't need to be paid back ever. Your individual financial situation and your family financial situation will come into play in determining how much you'll get in aid, but since it is free to apply for, there is absolutely no reason to skip over filling out your FAFSA regardless of your financial situation.