The cost of a college education seems to be increasing every year, but there is help with Pell grants for students. While the cost of community college is still relatively inexpensive compared to other schools; state colleges and universities, as well as private schools continue to increase the cost of tuition. And this doesn’t take into account the increases in the costs of textbooks and other materials.
With a little work, Pell grants for students can help cover the costs of a good education.
The Pell grant is part of the Federal student aid program. The money given to students through grants doesn’t have to be repaid like student loans do, unless the student drops out for some reason during the time period the aid was intended for. To get a Pell grant and other financial aid, the student needs to first fill out the Free Application for Federal Student Aid (FAFSA). This application is used by most schools to help them determine what kind of aid a student may be eligible for and how much. The report that is generated lets schools know the financial situation of the student and is standardized so that all schools see the same application.
The FAFSA is also used by many schools to help them determine if a student should receive college grants. The application is very detailed and requires information about the student’s income and expenses as well as any assets the student may have. If the student is young enough to be a dependent, the application covers the same information about the student’s parents or guardians. The criteria for other types of student grants vary from institution to institution, but the criteria for Pell grants are part of a set formula. This ensures that all students across the country have the same opportunity to receive grant money if their income qualifies.
Pell grants for students are not loans. This is an important distinction. Loans have to be repaid while grants do not. The Pell grant is a federal grant of money to help a student pay for a college education. It is also important to note that the Pell grant is designated for students who do not yet have a bachelor’s degree or higher. It can be used for tuition, books, and supplies and any other expenses related to getting a college education such as purchasing a computer or paying for housing.