Pell Grant Amount
Pell Grant amount that you may be eligible for, can help you in completing your education. To know more about the federal Pell Grant amount, read on.
The Federal Pell Grant program that was introduced through, Higher education act of 1965, was intended to help those low income students who are unable to complete their education due to lack of funds. The financial aid that was distributed through this program helped many to complete their education. However, the rising inflation and the cost of living, sort of neutralized the full benefits of the Pell Grant amount awarded to the students, to a considerable extent. President Obama, while he was Senetor of the Illinoise in 2005, brought to notice the need of increasing the Pell Grant amount for this reason. It was estimated that the financial aid for the 2004, through Pell Grant scholarship, was $700 less than what it was for the year 1975-76 because of the effects of the inflation.
What is the Maximum Pell Grant Amount for 2009-10 In February 2009 through the American Recovery and Reinvestment Act, President Barack Obama gave his approval to the increase in the federal Pell Grant amount. It was one of the first of his actions after occupying the Oval office. His decision set the Pell Grant amount for year 09-10 at $5,350 which was higher than that of the previous academic year by $671. By going through the aid figures it can be seen that the average Pell Grant amount awarded per recipient is estimated to be $3607. He also intimated, starting with the 2010-11, all the federal student loans
to be routed through the direct loan program. Because of this, the colleges and the universities in the U.S.A. can choose to participate in either or both Federal Family Education Loan (FFEL) and the direct loan programs for the benefit of their students.
Federal Pell Grant Amount The increase in this government grants
money i.e. Pell Grant amount is surely going to help those lacking funds for completion of their education. However, to be eligible for the federal Pell Grant or scholarship, there are some criteria to be fulfilled, which are termed as the Pell Grant requirements. The most important factor that determines the amount of Pell Grant amount, a student is eligible to receive, is his Expected Family Contribution or EFC score. To simplify the calculation and judging Pell Grant qualifications, in determining the financial strength i.e. EFC score of a student’s family, several factors are considered. These are taxed and untaxed income of the student’s family and its assets. If the students family is receiving any benefits such as unemployment or social security, it is also considered while arriving at a EFC score. This formula approved by the law also considers the student’s family size and who else from it will attend college or career school, during the academic year under consideration. A student’s expected family contribution score is neither the amount he pays to the college nor it is the amount he is awarded. A student, while applying for the Pell Grant amount or aid, is expected to fill and make available all this information in the Free Application for Federal Students Aid (FAFSA).
Pell Grant application
can be submitted to the aid officer at the school or the proper government authorities. During the processing of the student’s application and his Pell Grant eligibility, his EFC score is calculated by the authorities and the maximum Pell Grant amount he is eligible is calculated and awarded to him. If one is in hurry to know, what is the maximum pell grant amount he is eligible for, then referring to the Pell Grant amount chart may be useful, as it considers factors such as cost of attendance, student’s EFC score and status.
Pell Grant Amount for 2010-11
From the clear indications conveyed by the Obama administration, one can be sure that the Pell Grant amount per year is going to be bigger than the previous for some time. However, this amount changes depending on the type of the course a student has opted for. If you want to know the maximum Pell Grant amount (10-11) for a student attending a full time course, then it is set at $5,500 and the minimum amount is $1,176. So, a student enrolled in a full-time course may expect to receive $2,775 as Pell Grant amount per semester. For a — time course, the maximum and the minimum amount set is $4,163 and $1,004 respectively. The Pell Grant amount for a — time course is in range of $2,775-$831 and if a student opts for — time course he may expect to be awarded anything between $1,389-$659. A student’s enrollment in a particular course doesn’t qualify him to receive the full amount he is awarded, rather, now it is subjected to how much credit-hours he is attempting for that award year.
For a student wanting to continue his studies, the financial aid in the form of Pell Grant amount has always been useful since this program started. The boost that President Obama administration has given to this scholarship money, can help a student concentrate on his studies rather than on making ends meet.
