Scholarship News

A little low on money, and need cash for college—the government has cash to give away. Pell grants are one of the most common free grants that are available for students in need of college money. There are stipulations that have to be met, in order to receive a Pell grant. Unfortunately, these types of grants are for students in need of financial assistance for college.

Every year the Federal Reserve supplies money to the government in the form of loans, scholarships, and grants. This year was a total of $68 billion delivered to the government, and $12 billion went to Pell grants for education. There is plenty of money for students in need of assistance; they just have to apply for it.
To apply for a Pell grant, the student has to fill out the FAFSA form, and on this form it will ask for personal information. In order to be approved for a Pell grant, the student has to prove to the government that they are in need of this financial assistance. This is calculated by using the information put on the FAFSA form. There is no limit of income that the family has to be within, but there is an Expected Family Contribution (EFC) that has to be calculated, and that considers the students family taxes, dependency questions, savings, and other household questions.

When the student decides what college they will attend, they must fill out the FAFSA form immediately, because a deadline must be met in order to recieve the funds on time. Once enrolled into college, an opportunity for the student to apply online will be available. The Pell grant is for undergraduate students only, and the student can be either part-time or full-time. If the student is part-time, they will get a lower amount of money than they would if they were a full-time student.

If approved for the Pell grant, this grant will be sent to the college to pay for school. This grant will not be sent to the student’s home in the form of a check. The government isn’t that generous to give checks out like that and not monitor where the cash is being spent.

Applying for a Pell grant is not hard, and it does take some patience, and a lot of documentation is needed. It is well worth the time, especially if money is needed for college. The college will help with the filing of the FAFSA application.