Posts Tagged ‘federal’

How do I know if I am going to receive a Pell Grant award?

Saturday, February 7th, 2009

Pell Grant Award

If you’ve applied for a Pell Grant award through FAFSA, you can be rest assured that your wish will be granted. This is so because when you submit the FAFSA form, you are inevitably applying for the Federal Pell Grant award among other grants. The details of your form are sent to the Federal Student Aid Processing Center which deducts your EFC (Expected Family Contribution) based on you and your parents income tax returns. If your form is accepted then the processed data is sent to the school’s listed on your FAFSA. The school usually determines the Pell Grant award amount that you qualify for along with the possibility of getting other grants.

Once the Pell Grant award is announced and you would like to access the results then the best option is to call the Federal Student Aid Center during office hours (9 am to 5.30 pm during week days. Another option is to check your online FAFSA account. Don t forget to key in your PIN number.

Ensuring You Get Your Pell Grant Award

One needs to be extremely careful while filling out the FAFSA form especially when it comes to numbers. You can recheck your form by using your PIN number. If you don t remember your PIN number then you can contact your financial aid office. A Pell Grant award is based on need.

Minimum EFC For A Pell Grant Award

It is necessary that your EFC is below $40,000 or else you are less likely to be considered for a Pell Grant. Sometimes, the delivery of checks may not happen on time as there have been cases when students have been intimated that their Pell Grant award amount has been sanctioned but that s about it. In such a case, it is best to check with your University. Also, till the Pell Grant award results are not announced, it is better to keep checking with the University authorities.

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Pell Grant Amount

Thursday, August 7th, 2008

Getting The Maximum Pell Grant Amount

A Pell Grant award is no doubt one of the biggest financial aids sponsored by the United States Department of Education but a student should not make the mistake of completely depending on it but you can receive a high Pell Grant amount if eligible. It is considered to be a foundation of federal financial aid supplemented by other federal and non-federal sources.

The maximum Pell Grant amount for the academic year July 1, 2008 to June 30, 2009 is $4,731. A year ago the maximum award number was $4,310, showing that there is an increase by at least $200. However, the maximum Pell Grant amount numbers can change either way and have a lot to do with program funding.

What Is The Pell Grant Amount

The Pell Grant amount can range anywhere from $400 to $5000. This amount depends on the student s Expected Family Contribution (EFC) which is deducted based on the information provided in the FAFSA form. The amount each student gets will be determined based on his financial needs, likely school expenses, the enrollment status (number of hours per week) as well as duration of the course. There is no restriction on the number of years a student receives Pell Grant award. However, she/he will have to sustain a good school record and complete the stipulated number of hours. Also, unlike a loan, a Federal Pell Grant amount does not have to be repaid.

Pell Grant Amount For Fees

The average Pell Grant amount is likely to cover almost 50% of the school fees which is a substantial bit. However, if a student receives the maximum amount then about 75% of his school fees can be covered during four-year college tenure. But with rising educational costs, a lot of University authorities have asked for a raise in the Federal Pell Grant amount so that students need not spend their time or energy worrying about school fees and concentrate on their grades. However, care needs to be taken to avoid these funds from being misused by irresponsible students who do not complete their mandatory hours at school and quit school without a sincere attempt and keep the Pell Grant amount.