Scholarship News

When trying to determine how a person will fund their college education there are several options that a potential student should learn about and carefully consider. Generally there are scholarships available to students who are still in high school. There are also private loans that the parents of a student may apply for and fund personally. There are student loans available through private lenders and organizations that a student will typically need their parents to co-sign for, as well as federally funded student loans. For qualifying students, a federal Pell Grant may be a viable option, as this financial aid instrument is superior to most of the aforementioned options.

Federal Pell Grants are issued when a student can demonstrate the appropriate financial need for additional funding to attend college. Students who are under the age of twenty-five and have typically lived with their parents, are not married, and do not have children are usually considered dependent students. These students will need to submit information on their application regarding their own income, as well as the income of their parents if they want to demonstrate the proper financial need to qualify for a Pell Grant.

Those who have not typically been a dependent of their parents, under the age of twenty-five with children, have been classified as a run-away, or have been homeless in recent years are typically considered to be a non-dependent. They will need to submit information in regards to their own income and if applicable, the income of their spouse. To help determine dependency status, a dependency status worksheet is available. The worksheet will ask questions in regards to income and family and marital status in addition to previous living situations.

The potential student will need to complete a FAFSA form online or submit a paper application through the mail or to the school’s financial aid department. A student who is in default on other federal loans or grants may not be able to satisfy the outlined Pell Grant qualifications for that school year. It is recommended that a student apply for a Pell Grant at least 10 weeks before a semester is due to start. Pell Grants are set a maximum yearly amount per student, and funds are issued on a first come, first serve basis.