HOW THE PELL GRANTS WORK
With cost of education soaring high, for many it is not possible to afford the cost of studies at college level. However, Pell Grants give financial assistance to such students and have gained immense popularity with thousands of students applying for it every year.
The Pell Grant program is a type of post-secondary, educational federal grant program sponsored by the U.S. Department of Education. It is named after U.S. Senator Claiborne Pell of Rhode Island and originally known as the Basic Educational Opportunity Grant program.
Pell Grants include cost of tuition, books and living expenses. It is the most widely available form of grants for undergraduate students and unlike other loan programs, it never requires to be repaid. One of the most important factors which are considered while making the grants available to the college students is the student’s expected family contribution. This is basically a need-based education grants program and does not require the student to produce his grades in the college. So, those who have a significant financial need can receive the money. Interestingly. Pell Grants are not time- bound like the Federal loans which make them one of the most sought- after options for the students.
These grants are limited by the length of time taken by the student to complete his bachelor’s degree; however, this can stretch up to any number of years. To apply for grants named Pell grants, the students should consider the following:
- Provide a valid social security number while filling up the form
- The college you are going to must contribute some amount in the Pell Grants Program.
- The student applying for the Pell grants should make academic progress in the study program he or she is enrolled in
- The program you are enrolling in should be a degree-oriented program and not a graduate program. However, certain kinds of professional courses do qualify for the grants.
Pell Grants are also available for the single mothers who want to pursue higher studies. The Federal Pell Grants help low-income students to realize their potential to the maximum and continue their education. Although you are allowed to receive only one Pell Grant per educational year, there is no limit on how many times you can receive it, once you have proven your Pell Grant eligibility.