What is a Federal Pell grant?
A Federal Pell Grant, unlike a loan, does not have to be repaid. The amount that any student may receive varies and is dependant upon the expected family contribution or EFC. The EFC is calculated by the Department of Education after you submit the Free Application for Federal Student Aid, (FAFSA). Generally, Pell Grants are awarded only to undergraduate students.
A Federal Pell Grant, unlike a loan, does not have to be repaid. Pell Grants are awarded only to undergraduate students who have not earned a bachelor’s degree or a professional degree. (A professional degree would include a degree in a field such as medicine, law, or dentistry.) For many students, Pell Grants provide a foundation of financial aid to which other aid may be added. To determine if you’re eligible financially, you must first complete the Free Application for Federal Student Aid (FAFSA). 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, which is reported to you on your Student Aid Report (SAR). The SAR contains this number and it will tell you if you’re eligible for a Pell award. You can receive only one Pell Grant in an award year. How much you get will depend not only on your EFC but also on your cost of attendance, wh
