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 |
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The maximum Pell Grant eligibility varies each award year,
based on available federal funding. Pell Grant award amounts
can change yearly. For the 2007-2008 academic year, the minimum
award for those who qualify is $400, and the maximum award
is $4,310.
Remember: While you should always exhaust all types of financial
aid before applying for a loan that needs to be repaid, if
you do not qualify for a Pell Grant, you may still be eligible
for other types of financial aid.
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