subject: College Students Should Know About Pell Grants [print this page] As students approach the end of high school they must consider their next step. Some will enter the work force, while others will attend college and continue their education. Unfortunately, this decision is not always based on what the student wants. Too often there is a financial burden that cannot be met. This prevents many kids from advancing to college, and that includes those that might otherwise be a successful college student. Thankfully, there are ways to get money for college through grants and loans, assuming the student in question fits the criteria. Grants, in particular, are popular because, unlike traditional loans, they do not have to be repaid. Pell grants could very well be the key to a student's post-secondary education.
Pell Grants are managed and maintained by the United States Government as are other other types of grants. Some of these are aimed at kids who have managed to maintain a high level of academic achievement through their high school years. Others are held strictly for those who are majoring in a specific program such as science or math.
On the other hand, Pell Grants are awarded to those who have a financial need. They are aimed at students from low-income families and can be obtained for both graduate and undergraduate studies. The competition for these grants does not take grades or fields of interest into account. They are specifically for students who have a need for college money. Still, there are some requirements.
One such restriction is citizenship. Anyone receiving a pell grant must be able to prove citizenship in the United States. They must also be able to show successful completion of high school or have obtained their GED. They are also required to provide proof of their low-income status.
The government measures many variables through the application process. When applying for a pell grant, the applicant must provide proof of their income and their assets. The same information must be provided for their parents. Other factors include the number of family members and the number of those who are also attending college.
But there are factors that go beyond qualifying. Once approved for a grant, the size must be determined, and this is done through a formula too. The student and family income, the cost for tuition at the target school, and a full or part time status can all be considered as factors in the final value of the grant.
Those who can prove their financial need and who receive a grant are being given the gift of education, however there are some limits, even for those who qualify. A student may only obtain a grant for one school in any given school year, and the maximum amount of any grant is limited to 5350 dollars. Also, applications must be received by the end of June for the following school year.
Even with the restrictions in place, Pell Grants are an extremely valuable asset for students who might not otherwise be able to attend a post-secondary school and further their education. Qualifying for a grant could make a very big difference in the life of a financially stressed student.
