A Federal Pell Grant, unlike a loan, does not have to be repaid.
Generally, Pell Grants are awarded only to undergraduate students
who have not earned a bachelor’s or professional degree. (A
professional degree is usually obtained after a bachelor’s
degree in a field such as medicine, law, or dentistry.) In some
cases, you might receive a Pell Grant for attending a post-baccalaureate
teacher certificate program.
Pell Grants are usually a foundation of financial aid, to which
aid from other federal and nonfederal sources might be added.
To determine if you’re eligible, the U.S. Department of Education
uses a standard formula, established by Congress, to evaluate the
information you report when you apply (see “Financial Need”
by clicking here). The formula
produces an EFC number. Your SAR contains this number, in the upper
right portion of page 1. This number will determine if you’re
eligible for a Pell Grant and for how much.
Pell Grants for the 2003-2004 award year (July 1, 2003 to June 30,
2004) will depend on program funding. The maximum Pell Grant for
the 2002-2003 award year was $4,000. How much you get will depend
not only on your EFC but also on your cost
of attendance,* whether you’re
a full-time or part-time student, and whether you attend school
for a full academic year*
or less. You may receive only one Pell Grant in an award year, and
you may not receive Pell Grant funds from more than one school at
a time.
Your school may credit the Pell Grant funds to your school account,
pay you directly (usually by check), or combine these methods. The
school must tell you in writing how and when you’ll be paid
and how much your Pell Grant will be. Schools must pay you at least
once per term (semester, trimester, or quarter). Schools that don’t
use formally defined, traditional terms must pay you at least twice
per academic year.*
Yes, if you’re otherwise eligible. You won’t receive as
much as if you were enrolled full time, but your school must disburse
your Pell Grant funds in accordance with your enrollment status
and can’t refuse you an award simply because you’re enrolled
less than half time.*
Back
to Education Home Page
For
information or additional news, contact the editor at ygaa@pacbell.net
|
