What is a Pell Grant?

One of the most popular forms of financial aid for low income students and families entering college is the federal Pell Grant. What makes this grant so popular? A Pell Grant does not have to repaid once the student's education is complete. This grant program is funded and monitored through the United States Department of Education.

The U.S. Department of Education has set forth a list of eligibility requirements that help to determine who can receive these grants, and how much should be rewarded on an individual basis. These grants typically cover around 31% of a student's education each year, depending on a number of factors. Potential grant applicants are looked at on an individual basis. The expected family contribution plays a huge part in determining the amount of money a student may be able to receive. Students with a family income of less than $50,000 are eligible to apply. The majority of recipients fall within the $20,000 or less family income range.

Other information that is considered when determining the amount of money a student will receive is the actual cost of the school that they will be attending. The cost of tuition, living expenses and other education-related expenses will be taken into consideration. Whether the student will be attending full time, or just part time is also taken into account by both the Department of Education, and their college's financial aid department. Full time students will receive more assistance, but part time students are eligible to apply, and can realistically speaking receive a substantial amount of aid if they can exhibit the appropriate credentials.

Angela Webb is an avid writer and online contributor who answers the question what is a Pell Grant, and also writes about other various issues in regard to the Pell Grant.

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