Pell
Grant Information:
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. 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.
If your EFC is below a certain amount, you’ll
be eligible for a Federal Pell Grant, assuming
you meet all other eligibility requirements. There
isn’t a maximum EFC that defines eligibility
for the other financial aid programs. Instead,
your EFC is used in the following equation to
determine your financial need:
Cost of Attendance*
— Expected Family Contribution
_____________________________
= Financial Need
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.
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