Benefits

Federal Pell Grant: receive up to $7,395

Get the details on what a Federal Pell Grant is! Receive payments to cover your college costs. No need to pay back! Read on!

Advertisement

Learn about the Federal Pell Grant and its benefits

Federal Pell Grant
Learn how the Federal Pell Grant works. Source: The Mad Capitalist

Have you ever heard of the Federal Pell Grant? It is a grant available to those pursuing higher education who do not have enough money to cover their tuition.

Federal Pell Grant

Federal Pell Grant: see how to apply

Find out if you're eligible to apply for the Federal Pell Grant? Ensure up to $7,395 to cover educational costs!

This program is designed to assist students in these scenarios and can be incredibly helpful. But what are the Federal Pell Grant’s benefits? Let’s take a look.

Advertisement

What is the Federal Pell Grant?

Education in the U.S. can be extremely expensive. Families spend years saving or even taking student loans to afford education costs.

To reduce that impact, the Federal Pell Grant is a financial aid program that provides grants to undergraduate students who demonstrate financial need.

The U.S. Department of Education offers the program to students who have not yet earned a bachelor’s, graduate, or professional degree.

Unlike other forms of financial aid, such as loans, grants are a type of financial aid that does not need to be repaid.

So they can help millions of students to stay in university, having the financial support they need to keep their studies.

What are the benefits included in the Federal Pell Grant Program?

Smiling male student sitting in university classroom
Find out the benefits included in this program. Source: Adobe Stock

The main benefit of receiving a grant from this program is that it helps eligible low-income students afford college costs, such as:

  • Tuition;
  • Fees;
  • Room and board;
  • Textbooks;
  • Materials;
  • And many other educational expenses.

Students don’t have to worry about paying the money back because grants are “donations.”

Also, this benefit is not a one-time deal. You can receive a Federal Pell Grant every semester (during the studying period) if you demonstrate financial eligibility.

Advertisement

How much is the Pell Grant?

The amount of funding that you receive through this program will depend on several factors, including:

  • Expected Family Contribution (EFC);
  • Attendance cost of your school for your specific program (determined by your school);
  • Your status as a full-time or part-time student;
  • Whether or not you plan to attend school for a full academic year or less.

The maximum amount changes yearly; in 2022-2023, it is $7,395.

What should I do to keep the Federal Pell Grant?

Once you earn a grant from this program, you must maintain satisfactory academic progress (SAP), so you don’t lose it.

Also, keep enrolled in an undergraduate course. Additionally, fill out the FAFSA form every year.

Finally, stay up-to-date on any changes or updates regarding eligibility requirements.

Advertisement

How to apply for the program?

We hope you have enjoyed this post about this program and its benefits.

Keep learning about the program, understand how to apply, and the requirements necessary in our post below!

Federal Pell Grant

Federal Pell Grant: see how to apply

Find out if you're eligible to apply for the Federal Pell Grant? Ensure up to $7,395 to cover educational costs!

Trending Topics

content

Earn more: Blue Cash Everyday® Card from American Express review

Read our Blue Cash Everyday® Card from American Express review- a credit card packed with cash back. Earn up to 3% cash back on purchases!

Keep Reading
content

Supplemental Nutrition Assistance Program (SNAP): get help with food costs

The Supplemental Nutrition Assistance Program (SNAP) can help you afford a healthy diet. Learn about eligibility, benefits, and how to apply.

Keep Reading
content

Apply for the Navy Federal GO REWARDS®: earn up to 3 points

Apply for Navy Federal GO REWARDS® today - quick process and amazing rewards! Earn 15K bonus points within 90 days and more!

Keep Reading

You may also like

content

Bad Credit Loans review: how does it work and is it good?

Look at the Bad Credit Loans review and understand what they are, how they work, and if they're a good option for you. Read on!

Keep Reading
content

Happy Money Personal Loan review: how does it work and is it good?

Read the Happy Money personal loan review to understand how it works and how it might benefit you. Check it out!

Keep Reading
content

Chase Ultimate Rewards partners: complete list

There are a number of Chase Ultimate Rewards partners for you to redeem your points with, but what’s the smartest way of doing it?

Keep Reading