Education Planning Common Questions |
Can anyone get a Pell Grant?
Answer:
No, the Pell Grant is an educational grant that the federal government offers only to those students who demonstrate exceptional financial need. The determination of exceptional financial need is based on the income and asset information you supply on the federal government's financial aid application, known as the FAFSA.
The main benefit of obtaining a Pell Grant is that it does not have to be repaid. For the academic year 2006/2007, the Pell Grant can range from $400 to $4,050, depending on your financial need. Pell Grants are available only for undergraduates; graduate students are ineligible.
Even if you think that you may be ineligible for a Pell Grant, you should apply anyway because many institutions will not consider you for other awards until they know your Pell status.
Also two other federal grant programs are available to full-time undergraduate students who qualify for a Pell Grant and meet other requirements. Grants available to first- and second-year students are called Academic Competitiveness Grants; grants available to third- and fourth-year students are called National Science and Mathematics Access to Retain Talent (SMART) Grants and will be available only to those students majoring in certain subject areas. Both grant programs are scheduled to sunset at the end of fiscal year 2010.
