It can be difficult to pay for your higher education, particularly if you come from a low-income family. Because of your financial situation, you might not even be considering college. However, there is a way out: the Pell Grant.Have a look at Federated Financial for more info on this.
What is a Pell Grant, and how does it work?
A Pell Grant is a federal government grant for financial need that you never have to repay. It was named after Claiborne Pell, a United States Senator, and was first awarded by the federal government in the 1960s. The aim of this grant was to assist low-income students in receiving a college education. It is only offered to low-income undergraduate students as a result of this.
These funds must be used at one of the 5,400 organisations that are part of the program. Your school will either deduct the grant money from your tuition and fees or pay you directly by check. At least once a semester, money is disbursed.
The Maximum Amount You Can Get:
The Pell Grant sum you earn is determined by a number of factors, including your family’s income, the cost of attendance, and whether you’re enrolled full-time or part-time.
The overall Pell grant available in 2006-2007 was $4,050. It is now $4,310 for 2007-2008. As you can see, the annual limit is subject to adjustment based on programme funding.
This money is helping disadvantaged families around the United States send their children to college. These college-educated children contribute to the growth of our economy.
What’s the best way to get one?
To qualify for a federal grant, fill out the Free Application for Federal Student Assistance (FAFSA) (FAFSA). You can do this either online or through the Financial Aid office at your school.