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The Federal Pell Grant program is a very widely available grant program for students who are going to college. This program is one of the only ones that offers “free government money” so that you can go to college. If you’re eligible for a Pell grant, you don’t have to pay back the money. Nor are Pell grants awarded based upon grades you’ve received. This is a needs-based financial aid online grant program that awards money based on a student’s Expected Family Contribution. Those who have significant financial need can receive money.

The amount of money students can get through the Pell Grant program varies from year to year. The federal government determines how much money they’re going to put into the financial aid option in general, and that will determine how much you’ll receive individually. The amount is also chosen based on how much the college classes will cost, what the Expected Family Contribution is going to be, and whether or not the student is enrolled full time. For the 2008-2009 school year, the maximum amount a student could receive through the program was $4,731.

It’s interesting to note that with the Pell Grant program, and with other federal loans, there is no lifetime cap. With the federal loans, there is a limit on how much money a student can borrow. Pell Grants are only limited by the students and the length of time it takes them to get their first bachelors degree. If that takes eight years, the money is available for eight years.

You’ll need to fill out the FAFSA if you want to apply for the Pell Grant. Honesty is imperative, because if you don’t report all assets or income, you could be subject to very tough penalties, including possible time in jail. The FAFSA information you provide determines what you’re Expected Family Contribution is. If you think your family has too much money or too many assets, fill out the form anyway. it uses a complicated formula to determine eligibility, and you may qualify for some help that isn’t apparent to you at first glance.

Since this is also the way to qualify for federal loan programs, go ahead and fill it out. The form will go to your college, where they will subtract the Expected Family Contribution from the cost of attendance to determine how much you will be expected to pay. If you are going to get some Pell grant money come you’ll get a letter telling you so. There is nothing else you can do to ensure that you get this money. While you’re waiting to hear whether or not you’ve gotten a Pell Grant, make sure you look for other options as well. Even if you do receive a Pell Grant, it will not be sufficient to pay for all of your schooling, so keep your eyes open for other help.