Let's Talk Pell Grants

[JLN]

I got one. After 4 years of schooling this is the first time I've received it.

Is it something I'll be getting for a few years, is it a one-time grant?

I have no idea how it works, eligibility, etc. I submitted my FAFSA and my school just notified me I've received it.

[teflep]

The Federal Pell Grant Program provides need-based grants to low-income undergraduate and certain postbaccalaureate students to promote access to postsecondary education. Students may use their grants at any one of approximately 5,400 participating postsecondary institutions. Grant amounts are dependent on: the student's expected family contribution (EFC) (see below); the cost of attendance (as determined by the institution); the student's enrollment status (full-time or part-time); and whether the student attends for a full academic year or less.

Students may not receive Federal Pell Grant funds from more than one school at a time.

Financial need is determined by the U.S. Department of Education 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. 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. The EFC is the sum of: (1) a percentage of net income (remaining income after subtracting allowances for basic living expenses and taxes) and (2) a percentage of net assets (assets remaining after subtracting an asset protection allowance). Different assessment rates and allowances are used for dependent students, independent students without dependents, and independent students with dependents. After filing a FAFSA, the student receives a Student Aid Report (SAR), or the institution receives an Institutional Student Information Record (ISIR), which notifies the student if he or she is eligible for a Federal Pell Grant and provides the student's EFC.

[Deleted]

It is need base. Unless congress fools with it or your income changes dramatically, you'll probably continue to get it.

Also if you decide to serve a high risk school population it is forgiven after 5 years of teaching (or something like that--definitely look into it.

[teflep]

Pell grants don't have to be repaid. The forgiveness program septic is speaks of is for subsidized /unsub loans.

[Deleted]

Sept 7, 2012 18:39:17 GMT -5 teflep said:

Pell grants don't have to be repaid. The forgiveness program septic is speaks of is for subsidized /unsub loans.

ooh right. I was thinking of Perkins Loans

[ttt]

You can get it every year as long as you qualify under the income and enrollment requirements.

[spunkarella]

I don't post here much, but I just wanted to say that you will probably continue to get it, but it is not guaranteed.

I got it every semester. I had a friend with very similar income that would get it some semesters and not get it others.

The financial aid office told her that the award depends on your need relative to the needs of others, funding, etc. So if there are more people more qualified than you that apply next year, they may get it before you do. There is no hard and fast rule for making a certain dollar amount and getting/not getting Pell.

[ttt]

Sept 7, 2012 20:59:00 GMT -5 spunkarella said:

I don't post here much, but I just wanted to say that you will probably continue to get it, but it is not guaranteed.

I got it every semester. I had a friend with very similar income that would get it some semesters and not get it others.

The financial aid office told her that the award depends on your need relative to the needs of others, funding, etc. So if there are more people more qualified than you that apply next year, they may get it before you do. There is no hard and fast rule for making a certain dollar amount and getting/not getting Pell.

I don't think this is right. It's a federal grant so it shouldn't depend on other students getting it or not getting it. There isn't a set amount allocated to each school

studentaid.ed.gov/types/grants-scholarships/pell

[taratru]

Pell Grants are the reason I got through my undergrad with no student loans. They are wonderful.

[overture]

You'll continue to get it as long as you're eligible. Usually if you qualify for a Pell you'll also qualify for state and university grants. Depending on the state, you might have automatically applied for those by filling out the FAFSA.

I received Pell Grants for the past few semesters, but unfortunately I was just denied further financial aid (even unsubsidized federal loans) because of a law passed last year. Sucks I spent 3 years fucking off in community college before I got my shit together. Now that I have a real graduation date, I'm not sure how I'll be able to afford it.

[spunkarella]

Sept 7, 2012 22:51:17 GMT -5 ttt said:

I don't think this is right. It's a federal grant so it shouldn't depend on other students getting it or not getting it. There isn't a set amount allocated to each school

studentaid.ed.gov/types/grants-scholarships/pell

Sorry, OP. That's what I get for just going on what I heard instead of doing my own research. I will try to do better next time.

[JLN]

Thanks everyone for the info. I guess I have my little nugget to thank for the free money.