FEDERAL PELL GRANT

A Federal Pell Grant, unlike a loan, does not have to be repaid. Pell Grants are only awarded to undergraduate students who have not earned a bachelor's or professional degree. (A professional degree would include a degree in a field such as pharmacy or dentistry.) For many students, Pell Grants provide a foundation of financial aid to which other aid may be added.

How do I qualify?

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 Expected Family Contribution (EFC) number. Your Student Aid Report (SAR) contains this number and will tell you if you're eligible.

How much money can I get?

Awards for the 1996-97 award year (July 1,1996 to June 30, 1997) will depend on program funding. The maximum award for the 1994-95 award year was $2,340. How much you get will depend not only on your EFC, but 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.

If you participate in a study-abroad program that costs more than your usual cost of attendance, you may be able to get additional Federal Pell Grant aid to help cover those costs. Check with your financial aid administrator (FAA).

How will I be paid?

Your school can either credit the Pell Grant funds to your 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 award will be. You can then either accept or decline the award; do this in writing, for the school's records. Schools must pay you at least once per term (semester, trimester, or quarter). Schools that do not use formally defined, traditional terms must pay you at least twice per academic year.

Can I receive a Federal Pell Grant if I am enrolled less than half time?

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 cannot refuse you an award simply because you're not enrolled at least half time.

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