Federal Student Grants

The Federal Pell Grant Does Not Have To Be Paid Back
A Federal Pell Grant is actually one of the few grants that does not have to be repaid.  Most Pell grants are available to students working on an associates or Bachelor's degree.  There are some exceptions.  Teachers working on post-graduate certification programs are also sometimes awarded Federal Pell Grants. 

Federal Pell grants are one of the initial building blocks to help secure the financial needs for your college education.  It will take you some time to work through the appication forms but don't get discouraged, because this form of student financial aid is well worth your effort.  Remember, the Pell Grants do not have to be paid back.  

What is the Value of a Pell Grant?
A total of $4,731.00 is the maximum dollar amount for a Federal Pell Grant for the 2009 to 2010 grant period.  Depending on program funding, the maximum amount awarded can change to year to year. 

Your own college education financial needs and the costs associated with your college institution will relate directly to your potential Pell grant.  Your status as a full or part time college student is also a factor as well as how long you plan to study in a given calendar year.

How do I get the Money to my Bank Account if I am Eligible? If you are eligible and approved for a Pell Grant, your college of choice can credit the Pell Grant funds to your college costs.  You can also be paid directly (usually by an official Pell grant check).  The college office of student financial aid must notify you in writing how much your award will be and how and when you will be compensated.  Colleges must disburse funds at least once per semester, trimester or quarter.  Colleges that do not use these academic timelines must disburse funds at least twice per academic year.

As you can see, the federal Pell Grant can provide you additional financial assistance that can help offset your college expenses. To some students, the amount of the Pell Grant may not seem to make a dent in helping pay for college. For other students, it is just one additional way to whittle down the amount of money that you might owe after paying for college.

In combination with other student financial aid, like federal student loans, the Pell Grant is definitely worth the time and effort to prepare and submit the application. Who knows, you might reduce your college expenses by several thousand dollars and remember, you don't have to pay it back!