Federal Pell Grant Information and How You Can Better Your Chances of Receiving Funds
It seems like the cost of everything is increasing from gasoline to groceries.
The sad fact is everything has gotten more expensive and that includes college tuition.
Thankfully, there is financial help for those who qualify in the form of a Federal Pell grant.
Here are a few things you should know about these particular grants: Cost of School Pell grants used to cover a great deal more than they do now.
At one time a student could expect this financial aid to cover 60% of their tuition and fees.
Today that percentage is down to about 30 depending on where you attend school.
Community colleges generally try to keep their costs down, below the Federal level but this is something you should talk to your institutions financial aid department about first.
Maximum Allocations Historically, these grants generally increase each year to keep pace with the rising cost of tuition.
For example this year's Pell, 2010-11, will have a $5,500 maximum, which is up about $200 from the year before.
You may or may not receive the maximum award amount.
Pell grants are calculated based on need and expected family contribution, many people qualify for at least a partial disbursement.
Conclusion The important thing to know about Federal Pell Grants is that you should apply as early as possible in order to get into the school of your choice.
It can take several weeks for federal student aid applications to be processed, approved and funds sent to your school.
Waiting too late may mean you will need to pay for classes, books and supplies out of your own funds.
If you are approved at this point, you will of course receive the balance of your grant all at one time but many people do not have that much money.
Thankfully, Pell Grants are available for students to further their education.
Learn all you can to increase your chances.
The sad fact is everything has gotten more expensive and that includes college tuition.
Thankfully, there is financial help for those who qualify in the form of a Federal Pell grant.
Here are a few things you should know about these particular grants: Cost of School Pell grants used to cover a great deal more than they do now.
At one time a student could expect this financial aid to cover 60% of their tuition and fees.
Today that percentage is down to about 30 depending on where you attend school.
Community colleges generally try to keep their costs down, below the Federal level but this is something you should talk to your institutions financial aid department about first.
Maximum Allocations Historically, these grants generally increase each year to keep pace with the rising cost of tuition.
For example this year's Pell, 2010-11, will have a $5,500 maximum, which is up about $200 from the year before.
You may or may not receive the maximum award amount.
Pell grants are calculated based on need and expected family contribution, many people qualify for at least a partial disbursement.
Conclusion The important thing to know about Federal Pell Grants is that you should apply as early as possible in order to get into the school of your choice.
It can take several weeks for federal student aid applications to be processed, approved and funds sent to your school.
Waiting too late may mean you will need to pay for classes, books and supplies out of your own funds.
If you are approved at this point, you will of course receive the balance of your grant all at one time but many people do not have that much money.
Thankfully, Pell Grants are available for students to further their education.
Learn all you can to increase your chances.
