The Pell Grant is an educational grant given to college students in the US. To qualify for a Pell Grant, the family income of the student must be at most $60,000. It is designed to help low-income families to send their children to college by subsidizing the schools Cost of Attendance or COA.
What Determines Pell Grant Amount?
Many people are asking whether the Pell Grant is the same for all States. You might be thinking that transferring to a different State will affect the Pell Grant amount you will receive, possibly making it larger. The fact is that the place or State in you reside in has NO BEARING on the amount of Pell Grant you will receive, if you are deemed eligible. The average Pell Grant amount paid to qualifying applicants is $2,250, but this ranges from a minimum $550, to a maximum of $5300, depending on the need of the family. A number of factors determine the Pell Grant amount given to a student, and the State or place of residence does not affect it. Family size, income, number of dependents, family assets, and the cost of the schools education are the factors that affect Pell Grant amount.
The Cost of Attendance also includes miscellaneous fees like supplies, food, boarding or dormitory expenses, computers, and software that are directly related to education. Pell Grant covers these expenses on top of tuition fees, books, transportation, and daily allowance.
How to Apply for Pell Grant
The Pell Grant is available to undergraduate students who have difficulty financing college tuition and cost of schooling. To apply for a Pell Grant, visit the website of Free Application for Federal Student Aid or FAFSA. The results of your application in FAFSA will determine the Pell Grant amount you can be entitled to using. Visit their website at fafsa.ed.gov to begin your application.
Can One Redeem Excess Pell Grant?
Yes. Normally, the Federal Government disburses Pell Grant Money to accredited Institutions who then either give the money to deserving applicants, or deposit the money to the students school account. If your Pell Grant was disbursed directly to your school, you may still claim the excess Pell Grant. Ask for a Pell Grant Refund Check from your school treasury or school registrar before term ends, otherwise, you will have difficulty claiming the excess money immediately. The school may keep the excess Pell Grant amount to be used for the succeeding semesters you have in school. However, if you are a graduating student and still have excess Pell Grant, the school will normally issue a check to you or mail your refund check to your home.
The Pell Grant is a government subsidy and may cover school terms of one or two semesters, but not necessarily a whole school year. The Federal Government awards the grants to the most deserving applicants; keeping an acceptable GPA is a necessary requirement to keep availing of the Pell Grant, just like most scholarship grants.