Pell Grants for education are a Federal grant program that is designed to provide financial assistance to low income students, and certain post-baccalaureate students. They are need based, and financial need must be documented to qualify for one of these educational grants. Pell Grants can be used at over 5,400 participating institutions of higher learning. These are direct grants, and do not need to be repaid.
Students will receive Federal Pell Grant funds directly at least once a term for schools that use a semester, trimester, or quarter. Those schools without term definitions pay the student twice a year. These educational grants help low income students obtain access to postsecondary education. The amounts awarded depend on the costs, the student’s family contributions, and whether the student will attend school full or part time, and the amount of the year the student attends the school. Only one Pell Grant can be received at a time, from only one school.
Financial need to qualify for Pell Grants is determined by using a standard formula established by the U.S. Department of Education. Determining factors include the student’s income, family income, household size, and number of students in that family who attend postsecondary institutions. There are different rates for single students, and students who are independent, with or without dependents. Federal Pell Grants are awarded to students who have not received a bachelor’s degree, or who are enrolled in degrees leading to teacher certification or licensing.