In today’s competitive world, pursuing higher education has become essential for students. While many choose to study in their home country, others prefer to explore opportunities at global universities. The United States has long been a favored destination for both domestic and international students, known for its many globally recognized institutions.
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However, higher education in the U.S. can be both expensive and challenging. To support students, universities offer a variety of scholarships and grants. One such financial aid option for U.S. students is the Federal Pell Grant, which is accepted by prestigious institutions like Yale University and the Massachusetts Institute of Technology (MIT).
In this article, we will dive into the details of the Federal Pell Grant, including its eligibility criteria, award amounts, and application process.
What are Federal Pell Grants, and who is eligible?
The Federal Pell Grant is a need-based federal financial aid program for students pursuing college or other post-secondary education. It is awarded to students who demonstrate exceptional financial need and have not yet earned a bachelor’s, graduate, or professional degree.
How to apply for Federal Pell Grants?
To apply for a Federal Pell Grant, students must complete and submit the Free Application for Federal Student Aid (FAFSA) form. Schools use the information provided on this form to determine eligibility and calculate the amount a student can receive. It is important to note that students must fill out the FAFSA form every year they are enrolled in school to maintain their eligibility for the grant.
What are the award amounts?
According to the Federal Student Aid official website, the maximum award amount for a Federal Pell Grant can change annually. For example, the maximum award for the 2024-25 academic year is $7,395. In certain cases, eligible students may receive up to 150% of their scheduled Pell Grant award for an academic year.
Do Federal Pell Grants need to be repaid?
Unlike loans, Federal Pell Grants typically do not need to be repaid. However, there are specific circumstances under which repayment may be required, including:
- Withdrawing early from the program for which the grant was awarded.
- A change in enrollment status that reduces eligibility (e.g., switching from full-time to part-time enrollment).
- Receiving outside scholarships or grants that reduce your need for federal aid.
- Failing to meet the requirements of a TEACH Grant service obligation (if applicable).
- Receiving Federal Pell Grant funds from more than one school simultaneously.
Students can visit the official website of the Federal Student Aid, an office of the U.S. Department of Education, for additional details or can click here.
