Subscribe To
This Site
|
Pell-Grant College ScholarshipThe Pell-Grant is one of the more popular federal college scholarships available. It provides needs-based grants amounting to several thousand dollars to low-income undergraduate and certain graduate students. It promotes access to postsecondary education by funding college education to individuals in need of financial assistance. Students may use the Pell-Grant at any one of over 5,000 participating colleges and universities. Grant amounts and education funding process are dependent on the following factors: • student's EFC (expected family contribution) • cost of attendance (as determined by the institution) • student's enrollment status (full-time or part-time) • whether the student attends for a full academic year or less. Students may not receive Pell-Grant funds from more than one school at a time. U.S. Department of Education determines financial need using a standard formula, established by Congress, to evaluate the financial information reported on the FAFSA (Free Application for Federal Student Aid) and to determine the family EFC.
• income of student (and assets if the student is independent) • income of parents and assets (if the student is dependent) • number of family members (excluding parents) attending college (post secondary institution) • size of the family household The EFC (expected family contribution) is the sum of: (1) a percentage of net income ( income after subtracting cost of basic living expenses and taxes) and (2) a percentage of net assets (assets remaining after subtracting an asset protection allowance). Different assessment rates and allowances are used for dependent students, independent students without dependents, and independent students with dependents. Upon completing a FAFSA, the student receives a Student Aid Report (SAR), or the institution receives an Institutional Student Information Record (ISIR), which notifies the student if he or she is eligible for a Federal Pell Grant and provides the student's EFC. These federal scholarships are direct grants awarded to students with financial need through participating institutions who have not received a bachelor's degree or who are enrolled in certain graduate programs that lead to teacher certification or license. Participating institutions either credit the these funds to the student's school account, pay the student directly (usually by check) or combine these methods. Students must be paid at least once per term (semester, trimester, or quarter); schools without defined terms must pay the student at least twice per academic year. For more information on the Pell Grant and other college funding scholarship programs provided by the federal government, visit their website at ed.gov.
• income of student (and assets if the student is independent) • income of parents and assets (if the student is dependent) • number of family members (excluding parents) attending college (post secondary institution) • size of the family household The EFC (expected family contribution) is the sum of: (1) a percentage of net income ( income after subtracting cost of basic living expenses and taxes) and (2) a percentage of net assets (assets remaining after subtracting an asset protection allowance). Different assessment rates and allowances are used for dependent students, independent students without dependents, and independent students with dependents. Upon completing a FAFSA, the student receives a Student Aid Report (SAR), or the institution receives an Institutional Student Information Record (ISIR), which notifies the student if he or she is eligible for a Federal Pell Grant and provides the student's EFC. These federal scholarships are direct grants awarded to students with financial need through participating institutions who have not received a bachelor's degree or who are enrolled in certain graduate programs that lead to teacher certification or license. Participating institutions either credit the these funds to the student's school account, pay the student directly (usually by check) or combine these methods. Students must be paid at least once per term (semester, trimester, or quarter); schools without defined terms must pay the student at least twice per academic year. For more information on the Pell Grant and other college funding scholarship programs provided by the federal government, visit their website at ed.gov.
In addition to Pell-Grant, find other sources of free college money. Breaking-News
|
