College Pell Grants: Requirements and Application Information
Pell Grants are need-based grant programs. The amount of your Pell Grant is determined by the size of your Expected Family Contribution (EFC), the school’s Cost of Attendance, your enrollment status, and whether you attend for part or all of the school’s academic year.
As with all education grants, the Federal Pell Grant program does not have to be repaid. However, unlike other federal grant programs, Pell Grants are considered an Entitlement Program, which means that the federal government awards the funds, regardless of which eligible school you decide to attend.
Federal Pell Grant Eligibility Information And Award Amounts
The maximum Pell Grant eligibility varies each award year, based on available federal funding. Pell Grant award amounts can change yearly. The maximum Pell Grant award for the 2010-11 award year (July 1, 2010 to June 30, 2011) and the 2011-12 award year (July 1, 2011 to June 30, 2012) is $5,550.
The amount you receive will depend not only on your financial need, but also on your costs to attend school, your status as a full-time or part-time student, and your plans to attend school for a full academic year or less.
Remember: You may still be eligible for other types of financial aid even if you don't qualify for a Pell Grant. You should always exhaust all types of financial aid before applying for a loan that needs to be repaid.