Tuesday, April 26, 2011

What is the Pell Grant?

Although the critical March 2nd deadline for the FAFSA has come and gone, you can still file yours and receive one very important grant.

The Pell Grant, originally known as the Basic Educational Opportunity Grant, is for students with financial need who have not earned their first bachelor's degree. The only way to get this grant is through filing the FAFSA. The Pell Grant is sponsored by the US Department of Education, They use the financial information reported on the FAFSA to determine the student's financial need.

The Pell Grant was originally created for students who were financially unable to obtain higher education, therefore students receive the grant on a need-based criteria. You also must be a US citizen with a high school diploma or equivalent.

Last year, the maximum amount you could receive for the the Pell Grant was $5,500. The amount you actually receive depends on many factors including cost of attendance and whether or not you plan on being a full or part-time student.

Don't miss your opportunity, file the FAFSA today!

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