Archive for the ‘Pell Grants’ Category
What are Pell Grant application deadline and disbursements dates?
The student financial aid known as Pell Grant is one of the best things that may happen to the life of students who want to finish college and their parents who are trying and working hard to send their kids to school. This school year, the deadline for application and disbursement schedule for Pell Grant 2011-2012 is still a subject of wonder. Educational institutions have never revealed a deadline or an ideal time to pass Pell Grant applications, leaving students and their parents almost clueless. Some colleges would set different schedules. Typically, the first day of February, March and April are given as the deadline. But one thing that most parents do not know is that there is actually an ideal date to pass the application.
But first, let us discuss what a Pell Grant is. This is a form of student financial aid that took its name from US Senator Claiborne Pell. This grant program was originally called as the Basic Educational Opportunity Program. However, the Pell Grant is not a loan. Since it is a grant, it does not have to be repaid. It is simply awarded to those who need the financial aid the most. For a student to apply for a Pell Grant, he or she must apply through FAFSA or Free Application for Federal Student Aid. The amount granted to the student is determined by the calculations based on the information given by the student upon filling up the FAFSA form and passing a copy of the family’s EFC or Expected Family Contribution.
Usually, parents think that the earliest possible date to pass their EFC for their child’s Pell Grant application is February 1st. However, they are mistaken. This date may sound early, but it is actually a little late already. The ideal date to pass the application for a Pell Grant is on the 1st day of January or any nearest day possible to it. Since there are a lot of students and parents rooting to get a grant, then the earliest you could pass the application requirements, the better. Today, not only families from the lower class apply for a financial aid, but also those from the middle class. This just proves how hard it is to send a child to school. So, parents and students must always be on their toes and pass their applications for the Pell Grant at the earliest day possible.
Submitting early may secure a bigger chance of receiving a Pell Grant and getting the right disbursement according to what is due depending on the calculation of your EFC. There are cases where parents pay higher tuition than they should because of shortage in aids. Meanwhile, parents should not be worried about giving a wrong calculation. Just try to calculate what you think is the most accurate figures. Do not exaggerate the numbers.
Disbursement schedules vary from college to college. Pell grant disbursements are often given per season, in batches. Those who were successful in their 2011-2012 application can get their Spring disbursements sometime in March to June 2012.
Tags: Pell Grant Application, Pell grant disbursements
Do you have to re-apply for pell grant each semester?
The Federal Pell Grant is a student grant given to those from lower income families who wish to pursue higher education. To be eligible for this grant, you have to present proof that you are in need of financial aid. Those from families with an annual income lower than $20,000 were found to make up 57% of grant recipients, though this was not the case in the years 1999 to 2000, as majority of those receiving grants belonged to families with an income of less than $41,000 annually.
Students can receive as much as $5,550 a year, which will be split in half to provide for each semester of the school year. If you are depending solely on your grant, then you have to carefully choose the educational institution you are enrolling in but you can always add more if you already have a college or university in mind. You don’t have to re-apply for pell grant for every semester, as the grant is good for an entire school year, which typically includes two semesters. However, if you plan to go to school the following year as well, then you will have to apply for a another Pell Grant.
You are eligible to receive higher grants if you are a full-time student, as part-time students typically receive less. If you plan to attend a community college, then you can expect the Pell Grant to be enough to cover for your education. In fact, you may even have some money left for yourself. However, if you plan to go to other universities, the grant you receive may only be able to pay for a part of your tuition fee. Most students in the liberal arts and those from private universities may have to look for additional funding to cover for their expenses. While the grant is expected to increase in the coming years due to tuition fee increases, it still does not cover as many subjects as it used to.
The money you receive from the Pell Grant may also be used for items that you need for your education, such as books, a computer and other such requirements. However, you can only do this if you have some in excess after paying for you tuition fee. Even if you have received the grant for your previous years, you are still as eligible as any other student that needs financial aid if you choose to re-apply. You can check the government website or read through the FAFSA application guidelines to check if different terms apply for reapplication.
It is also worth noting that you cannot receive your grant for one entire year all at once, as the total sum is split into the number of semesters in the year so that each semester receives an equal amount. While you can use a Pell Grant for mostly all universities, provided that they participate in the program, you should still ask the university you are applying for if they accept such grants just to be sure. Students who really want to acquire higher education can greatly benefit from this grant so it is important to supply accurate information when applying.
Tags: Pell Grant
What Happens to Unused Pell Grant Money?
Pell Grant is an educational grant given by the US Federal Government to low income families with average income of up to $60,000. Pell grant prioritizes families with lower average incomes who experience more financial difficulties especially in paying for college tuition fees. Families with incomes of less than $20,000 account for more than 57% of all grants awarded in 2006.
The Federal Government courses the Pell Grant Money through accredited institutions. These accredited institutions have two ways of giving the Pell Grants to students. First is disburse the grant to the students school account, and second is to give the money to the student, usually covered by a check. Pell Grant is paid every term period.
The Pell Grant is computed using a standard formula created by the US Department of Education. The average Pell Grant paid to students per term is averaged $2,970 in the school year 2008-2009. For the school year 2010-2011, Pell Grant Money given to students range from $550 to $5,550. Factors that affect the size of grant given to a student are family size, the parents income and assets if the student is dependent on the parents, the number of children supported by the parents who attend post-secondary education, the cost attendance, and if applicable, the income of the student if he is supporting himself for college.
Can You Claim Unused Pell Grant Money?
Many people end up having excess Pell Grant. For example, they are awarded $5,000 in Pell Grant, but the cost of attendance is only $1,500 per semester. If the school has two semesters, that leaves the students an excess of unused $2,000 in Pell Grant. If you have excess Pell Grant, you cannot DIRECTLY claim this in cash. The Financial Aid Office limits the use of Pell Grant for COST OF ATTENDANCE ONLY. What you can do is to reimburse this excess fund using receipts that fall under Cost of Attendance. This includes boarding fees, transportation fees, books, computers, daily allowance for food, and other miscellaneous fees related to school. Pell Grant will likewise cover expenses like supplies, fuel, and software that are directly related to school.
What if the Pell Grant was Disbursed to the School?
If your Pell Grant was directly disbursed to your school account, excess of it will be issued by your school through a check if all your tuition, fees, boarding, and other education-related expenses have been paid. The excess Pell Grant Money is legitimately yours, assuming that they make up for the various Cost of Attendance you paid for independently. If you have excess Pell Grant balance since Fall, the school will normally give you part of the Pell Grant, and keep the rest for you to use the following semesters in spring and summer.
Get financial assistance from your government to get you through college. To apply for a Pell Grant, start by submitting a Free Application for Federal Student Aid or FAFSA, accessible through this website fafsa.ed.gov. Application for the FAFSA is free.
Tags: Pell Grant Money
Should I apply for Pell Grant before or after divorce?
A Pell Grant is an educational grant given to students belonging to low income families who wish to acquire higher education. Qualifying for this kind of educational grant is useful for those who want to further their education but cannot afford to so without financial aid. The maximum grant for the years 2010 to 2011 is $5,550, though it is predicted to increase in the next several years due in part to tuition fee increases. Since it is much more expensive now to acquire higher education, the grant does not cover as many credits as it used to but nonetheless, it is still very helpful for those who badly need the aid.
Anyone wishing to apply for Pell Grant must prove that he or she is in need of financial aid. Students from families that make less than $41,000 per annum are eligible to apply for this grant. It is important to note, however, that students are not allowed to use the grants funds for receiving education from more than one educational institution. If you are thinking of applying for this grant but you are about to get a divorce or you are in the process of applying for a divorce, then you must be wondering if you should apply before or after your divorce has been finalized.
It actually does not matter when you apply for Pell Grant, as the amount you are going to receive won’t be affected by the divorce process. Even if your divorce has not been finalized yet, as long as you indicate in your application that you are separated, your ex-husband’s income won’t be counted anymore. While most people recommend applying for the grant until after the divorce has been finalized, as you will be eligible to get more funds, it is not necessary. Even if you have kids and you want to add them to your dependents list to strengthen your application, your separation will not affect how much you are going to receive. All you have to do is make sure to indicate you are separated and your kids will still be listed as your dependents. However, you are eligible to receive more if you are the sole provider for your children. It is also worth noting that your kids will only be eligible to become dependents on your grant application if you provide for 50% of their education and needs.
If you want to apply for Pell Grant, make sure to read all the terms that apply to it so that you know exactly what you are eligible for. Make sure to provide accurate information in your application or you may end up forfeiting the grant altogether. Pursuing higher education during a divorce is actually quite admirable, though you have to keep in mind that the separation process is enough to remove your husbands profit from your yearly income. You can apply for Pell Grant at any time during the separation process, though it would be easier to present proof of this if you have already started with the divorce process but it does not necessarily have to be finalized when you apply.
Tags: Apply For Pell Grant
How many credit hours needed to be eligible for Pell Grant?
No one and nothing can be stopped from enriching their educational backgrounds, not even financial struggles. The Pell Grant scholarships are offered to students who are financially hard-up but want to complete an undergraduate degree. There are certain grading requirements that must be met by students. These are established in the Satisfactory Academic Progress for Federal Grant and Loans Programs. For example, a student must have a C or a grading equivalent as a GPA after two years of enrollment. Also, those eligible for Pell Grant scholarships must be U.S. citizens, taking undergraduate courses, and with an Expected Family Contribution of less than $5, 273. The EFC has been raised by President Barack Obama from $4,617. For the school year 2010-2011, the government has allotted a budget to supply Federal Pell Grant scholars from $555 to $5550. The rate given to the students depends on the credit hours he or she takes in school.
The Pell Grant scholarship is rated depending on the number of credit hours in which the student is registered. Generally, there is no hard fast rule that governs the required hours of a Pell Grant scholarship. The number of hours taken into consideration will affect the amount of grant that the students receive. For example, if a student is full-time (12 hours) he or she will receive a larger grant than a student whose credit hours are only between 4-8 hours. Pell Grant scholars can avail of 30 hours of non-credit remedial course work. Students cannot receive Pell Grant assistance or any other form of financial academic assistance beyond that 30-hour mark.
The students are not eligible for Pell Grant, regardless of the credit hours, if they receive funds from more than one school at a time. However, Pell Grant scholarships can be transferable from one school to another. Students just have to send their FAFSA (Free Application for Federal Student Aid) data to the new school to transfer Pell Grant assistance.
There has been reported abuse of Pell Grant scholarships, where students sign up for a certain number of classes. Once they get the grant cash, they drop these classes. However, there is already a policy that requires the 12 hours established on the last day of adding and dropping. In this way, instances of cheating will be diminished. If the number falls below 12 hours, the student will have to repay part of or even the entire Pell Grant. But this year, President Obama signed in a change. Students do not have to go to school for at least half-time to be eligible for Pell Grant. The student has an option to sign up for one or two classes but with lesser grant amount.
Also, students can now take summer classes with the help of a Pell scholarship. The federal government has allowed students to take two Pell scholarships, as long as they come from the same school. This is effective in summer of 2011.
Those eligible for Pell Grant can determine their number of hours and rates proportion by signing and consulting FAFSA. This is the best way to determine the rate because rates vary per student.
Tags: eligible for Pell Grant
Will previous debt to any school affect my Pell grant eligibility in any way?
The Pell Grant is given by the government to provide financial aid to low-income students who are otherwise unable to pay for their education, either for their undergraduate degrees or certain post-baccalaureate programs that can be certified. While there are only certain schools that are participating, there are at least 54,000 of these, so students who have been given a Pell grant have a variety of options of where they can study.
The reason why a lot of students are vying for a Pell grant is because the money given to them need not be repaid. The money is freely given to them so that they will be able to get their degree or certification. Once a student is given Pell grant eligibility, the school will either credit the funds directly to his or her school account, pay him or her directly, or combine both methods. However, since the government is effectively giving the money freely to students, there are strict policies involving those who will be qualified for the program, the most important qualification being the economic student of the applicant. Furthermore, there are strict rules regarding the use of the money given by the Pell grant.
One such issue is regarding transferral of schools. Since the Pell grant is usually awarded per term (semester, trimester, or quarter), you can pay for your enrollment in the program using the money that you are awarded. However, if you suddenly transfer schools in the middle of the term, the money will not be carried over. You will only be eligible for the portion of the year that you haven’t enrolled in yet, since you’ve already used the money for that term in your previous school. You will also need to inform the Financial Aid Office of your new school with your records so that they will be able to determine your Pell grant eligibility and award you accordingly, since Pell grant financial aid does not transfer from one school to another, strictly speaking. The new school should be the one to determine how much you will be getting, so the grant you may get in your new school may be lesser or more compared to what you were previously getting, depending on your needs. You may also be asked to submit a new set of requirements so they can have their own records.
The situation becomes problematic if the student still has outstanding debts from his or her previous school. A federal grant such as the Pell grant cannot be granted to students if they still owe money to their former academic institution or have defaulted on a previous student loan. He or she will only be able to get his or her Pell grant eligibility if he or she has made satisfactory payment arrangements with the other school.
If you still have outstanding debts from your previous school, try to settle this as early as possible or keep the loan current so that it wouldn’t go into default. Make inquiries about whether deferring payment will affect your Pell grant eligibility.
Tags: Pell Grant Eligibility