Pell Grant Award Limits
There are several grants and scholarships you can use to help you finance your education. These grants and scholarships are created to make higher education accessible to more, if not all, potential students across the nation. One of the most popular grants is of course the Federal Pell Grant.
The amount allocated changes each year, although the changes are usually for the better. The latest 2009-2010 school year Pell grant maximum amount is $5,350 per student, substantially more than the amount allocated last year. You need to check the eligibility terms before you can see just how much of that amount you can potentially get.
Depending on your current financial state, the Expected Family Contribution or EFC, the Cost of Attendance, and the status of your current enrollment, you can get different amount of Pell grant allocated to help you. Although the maximum amount can be easily acquired, understanding the eligibility terms can help you determine just how much you can get from the grant.
As long as you are pursuing your first bachelors degree and you are eligible according to the stated terms and conditions, you can easily get these funds. You wouldn’t have to worry about age or lifetime caps at all, since the federal Pell grant don’t have many limitations. All you need to focus on is provide the needed documents and complete the FAFSA form, and you are all set.
The amount of money you get can really help you finance your education. If you are using student loans to pay for college, you can greatly reduce the amount of loans you would have to repay later on by using the funds you receive from the federal Pell grant program. Since it is a grant, you wouldn’t have to worry about repaying the money at all. You can apply for the grant again the following year as long as you are still pursuing your first bachelors degree, and the process will still be swift and hassle-free; definitely one of the grant programs you should look into.
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