Federal Pell Grant
What is a Federal Pell Grant?
The Federal Pell Grant Program provides need-based grants to low-income undergraduate and certain post baccalaureate students to promote access to postsecondary education. Federal Pell Grants are direct grants awarded through higher education to students with financial need who have not received their first bachelor’s degree…
How much can a student receive?
For the 2013/2014 academic year the Federal Pell Grant range is from $605 to $5,645.
Who is eligible?
The U.S. Department of Education determines student’s eligibility for Pell by using a standard formula, established by Congress, to evaluate the financial information reported on the Free Application for Federal Student Aid (FAFSA) and to determine the family EFC. (Expected Family Contribution). The fundamental elements in this standard formula are the student’s income and assets (if the student is independent), the parents’ income and assets (if the student is dependent), the family’s household size, and the number of family members (excluding parents) attending postsecondary institutions.
What is the EFC range?
To be eligible for a Federal Pell Grant a student’s Expected Family Contribution must be between 0 and 5081.
Upon completion of the FAFSA the student will receive a Student Aid Report (SAR) which advises them of their EFC and Pell eligibility.
Transfer students: If a student received 100% of the First Scheduled Award at their prior school, it is assumed that the student completed an academic year. If a student received less than 100% of their First Scheduled Award, it is assumed that the student completed the same ratio of the academic year (24 credits) as the percentage of the First Scheduled Award utilized at the prior school. For example, a transfer student received $2007 of a $5350 Scheduled Award. Therefore, $2007 x 24/5350 = 9 credits assumed the student earned at the prior school.
Duration of Eligibility: All students may receive Pell grants for up to 12 semesters, measured by percentage of Scheduled Awards(s) disbursed (“Lifetime Eligibility Used,” or “LEU” field in COD up to 600%).