Pell Grant Program Highlights
The Pell Grant program began as the Basic Educational Opportunity Grant (BEOG). It is named in honor of it's legislative founder, Senator Clairborne Pell.
This former cornerstone of federal student aid was once generously funded. The program continues to target low income families by giving them more opportunity to afford a college education.
The program features free government money is federally funded and administered through the colleges. Many states mirror the program and offer their own school grants. The awards are free money for college that you do not have to pay back.
If your family income is lower and you feel you can demonstrate a significant financial need, than the Pell Grant may be right for you.
How Much is the Maximum Award?
The current maximum annual amount is $5,500. However, most students who do receive aid receive less than this since it is formula driven.
Know The Formula Steps
Interested applicants are advised to know the basic formula and terminology.
triggers a single calculated number, EFC - expected family contribution.
- You will then receive back a SAR - Student Aid Report. On this report it will indicate your eligibility for the program.
- Because this is a strict formula the yes/no response you receive back is all based on this net EFC cut-off score. Currently this threshold number is an EFC of $4,617.
Be sure to visit the FAFSA page to better understand the variables that influence this calculation.
Finding More Sources for Free Money
While the intent of this popular program is honorable the fact is the cost of college simply dwarfs the amount of the grant even at the maximum level. This still leaves students without any real viable options.
To find out why the formula approach doesn't work for most families and what you can do to find more attractive sources of free money for college visit my
You will learn where more attractive sources of free money for college can be found. You will learn how to especially avoid burdensome student loans.
To learn more about this federal student aid program please visit:
Pell Grant government link
Pell commercial link
Go to Financial Aid (insert new link)
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