Once a student reaches the final year of high school they need to think seriously about their next step. Many of them will begin working a full time job while others will continue going to school at a college, university, or trade school. Sadly, the decision they make is often times based on finances or the lack of finances. A lack of funding stands in the way of many graduating seniors who might otherwise attend college and obtain a degree. The good news is there are opportunities to obtain financing through the use of loans and even pell grants. Of course one must qualify for either. Grants are preferred because they are not loans. They do not have to be paid back. Getting a Pell Grant can be a real blessing for a student in need.
The federal government handles the distribution of Pell Grants. Some type of grants require a student to have achieved a certain academic status. Others are only available for those who are seeking a degree in a specific field such as math or science. For these types of grants, the advantage goes to those with excellent grades or an interest in a certain field of study.
Pell Grants are separated from other types of grants because they do not necessarily require a high grade point average and they are not limited to those students aiming to be scientists or math gurus. Instead they are provided for low-income students who have a real need for financial assistance, but some restrictions do apply.
First, only United States citizens can apply for a Pell Grant. They must also have successfully obtained their high school diploma or have achieved a GED. For these requirements there are no exceptions made. Students seeking a grant of this type are also required to prove their financial need through an application process.
There is a standard formula used by the government to establish one's financial need. Some of the variables factored into this formula are the students income and assets as well as the income and assets of his or her parents. Other factors include the size of the household and the number of other family members who are also attending post-secondary schools.
Aside from the qualifications and variables assessed for applying for a grant, there are similar formulas and requirements that help to determine the ultimate dollar amount. The student's income, if any, as well as that of their parents, is considered. The cost for tuition and whether they are full or part time will also factor in to the final amount granted.
Those who can prove their financial need and who receive a grant are being given the gift of education, however there are some limits, even for those who qualify. A student may only obtain a grant for one school in any given school year, and the maximum amount of any grant is limited to 5350 dollars. Also, applications must be received by the end of June for the following school year.
Pell Grants are an excellent way for those who can prove a financial need to attend college and obtain their post-secondary degree. Surviving the application process can be a challenge, however once obtained, a Grant could be the key to the future of a bright mind who might have otherwise missed a chance at higher learning.
The federal government handles the distribution of Pell Grants. Some type of grants require a student to have achieved a certain academic status. Others are only available for those who are seeking a degree in a specific field such as math or science. For these types of grants, the advantage goes to those with excellent grades or an interest in a certain field of study.
Pell Grants are separated from other types of grants because they do not necessarily require a high grade point average and they are not limited to those students aiming to be scientists or math gurus. Instead they are provided for low-income students who have a real need for financial assistance, but some restrictions do apply.
First, only United States citizens can apply for a Pell Grant. They must also have successfully obtained their high school diploma or have achieved a GED. For these requirements there are no exceptions made. Students seeking a grant of this type are also required to prove their financial need through an application process.
There is a standard formula used by the government to establish one's financial need. Some of the variables factored into this formula are the students income and assets as well as the income and assets of his or her parents. Other factors include the size of the household and the number of other family members who are also attending post-secondary schools.
Aside from the qualifications and variables assessed for applying for a grant, there are similar formulas and requirements that help to determine the ultimate dollar amount. The student's income, if any, as well as that of their parents, is considered. The cost for tuition and whether they are full or part time will also factor in to the final amount granted.
Those who can prove their financial need and who receive a grant are being given the gift of education, however there are some limits, even for those who qualify. A student may only obtain a grant for one school in any given school year, and the maximum amount of any grant is limited to 5350 dollars. Also, applications must be received by the end of June for the following school year.
Pell Grants are an excellent way for those who can prove a financial need to attend college and obtain their post-secondary degree. Surviving the application process can be a challenge, however once obtained, a Grant could be the key to the future of a bright mind who might have otherwise missed a chance at higher learning.
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