The Pell Grant application is included with the rest of your need-based financial aid loans and grants. You can apply for the Pell Grant simply by filling out the FAFSA (Free Application for Federal Student Aid). Like other need-based financial aid, your answers to the questions on the FAFSA will determine whether you are eligible for the Pell Grant.
The Pell Grant is different from a student loan. A student loan is borrowed money that has to be paid back after graduation. The FAFSA can qualify you for loans but it can also qualify you for grants. A grant is money that is given to you for school that does not have to be paid back. You are free to use the money to pay for your education costs without worrying about having to pay it back after graduation.
Pell Grants have specific requirements in order to be eligible. You must be an undergraduate student at an accredited college to receive Pell Grant funds. Male students must be registered with the Selective Service. After you receive the Pell Grant, you should maintain a certain level of academic achievement after receiving the grant.
To apply for the grant, you simply need to fill out the FAFSA at http://www.fafsa.ed.gov/. You'll need your social security number, your driver's license and the income tax return from the previous year for yourself (if you're an independent student) or your parents (if you're a dependent student).
The government distributes Pell Grants based on financial need. Although the grant can be awarded for students with an income of up to $60,000 a year, the most grants are given to those with $30,000 per year or less. The average award in previous years was between $4,731 and $5,350. The amount that you receive per year may change due to government policy, your changing financial need, your status as a full time student and your future attendance plans.
When you apply for a Pell Grant, be sure to report your information accurately for the best success. You should try to complete the FAFSA as soon as you receive your tax information from the previous year. Since the government has a limited amount of funds to distribute, the grants are first come, first serve. You can submit the FAFSA for the coming school year as early as January 1 if you have your tax information. You need to complete Pell grant applications for each year that you plan to attend school.
 | Many different types of federal financial aid are available, including Pell Grants, Perkins Loans, Stafford Loans and PLUS Loans, so learning about the various options is an essential first step in any strategy for financing a college education. |
 | A student can expect to qualify for a Federal Pell Grant if he or she meets certain conditions set forth in the application process. Generally, Federal Pell Grants are awarded to families who apply for a Pell Grant with incomes of less than $20,000, although there are exceptions based on a student's total criteria. |
 | A Federal Stafford Loan is a loan structured under the Federal Student Loan Program that allows undergraduate and graduate students to borrow money to attend college. They are designed to supplement a student's personal finances and family contributions to higher education. |
A Federal Perkins loan is one of many ways in which the government offers funds so that students with financial needs can attend college. This federal loan program is available from the U.S. Department of Education and helps with the cost of undergraduate programs and graduate programs. |
Going into debt while you're in college is frighteningly easy. With the demands of your classes and a new social life, you might find that swiping that credit card is the easiest way to get the things you want and need. Rather than letting your credit card bills pile up, follow these tips for minimizing your debt while you are in college. |
