What Is A Pell Grant -- And How To Get It

If you've looked through college financial aid information, you've probably come across the Federal Pell Grant. With all the fine print, it might be confusing and you might still be asking, "What is a Pell Grant?"

Here's a very simplified answer: it's free money for post-secondary school, with a maximum of just over $5,000 for an academic year.

Of course, things usually aren't that simple, and a Federal Pell Grant has its own eligibility and rules. Unfortunately, getting a Federal Pell Grant isn't as simple as typing What Is A Pell Grant in a search engine. The good news, however, is that if you can prove your need for financial assistance and you show good academic progress, you can qualify for a Federal Pell Grant.

Pell Grant Eligibility

While it may be difficult to sort through the language of a Federal Pell Grant application, here are the absolute basics of Pell Grant eligibility:

• Financial status: Federal Pell Grants are only given to those that can prove they have a financial need and can certify (via signed FAFSA) that the Federal Pell Grant will only be used for educational purposes and you are not in default of any federal student loans or owe repayment of any federal student aid grant.
• Personal status: Federal Pell Grant applicants must be US citizens or permanent residents (with some non-citizen eligibility available) with a valid social security number. Males between 18 and 25 must register with Selective Service for Pell Grant eligibility.
• Academic status: Federal Pell Grant applicants must have a high school diploma or a GED while being currently enrolled for a degree (some exceptions apply). Also, eligible applicants must show satisfactory academic progress.

What Is A Pell Grant Worth?

For the 2009-10 year, the Federal Pell Grant maximum is $5,350. For the 2010-11 year, the Federal Pell Grant maximum is $5,500. You can determine what Pell Grant value you qualify for by looking at the Expected Family Contribution (EFC) on your Student Aid Report (SAR) from your FAFSA filing. The Federal Pell Grant Award Schedule shows the corresponding maximum value you can get for your EFC.

Before applying for a Federal Pell Grant, ask yourself, "What is a Pell Grant to me?" Of course, any financial assistance for college is welcome, but Pell Grant eligibility is designed to assist those with the lowest income -- that means family households below $20,000 (though Pell Grant eligibility allows up to $50,000 per household). If you fall in that demographic, then you've come to the right place for help. If not, perhaps it's time to look at other specific scholarships, such as major-specific or career-specific scholarships. If necessary, registering on this site opens the door to many scholarship opportunities.