United Family Network
Resources

Unfamiliar With Pell Grants? Read This

Avatar photo Jonah Jacobs
3 min read

If you need money for college to reduce its ever-increasing costs, a Pell Grant may save the day. Here are some of the basics of Pell Grants so you can familiarize yourself with them before starting the application process.

So many know about scholarships and student loans, which is why they tend to focus on those forms of financial aid to help pay for school. Are they the only ways to get help with funding your education, though? Absolutely not, as there’s another form of financial aid that’s even more beneficial: Pell Grants.

Yes, some large scholarships out there offer a massive chunk of change to pay for school. But here’s the problem with scholarships: They’re usually based on merit, and the competition is fierce. As such, getting the scholarship you desire may be quite difficult.

What about student loans? They’re easier to get than scholarships, but they’ll saddle you with debt when you graduate. And for many, starting a career in deep debt is anything but ideal.

Now that you see how scholarships and student loans don’t deserve all of your focus, let’s take a deeper dive into what Pell Grants bring to the table.

Eligibility for Pell Grants

Unlike scholarships, Pell Grants are based on your financial need. In other words, if you come from a low-income household, that may be enough to get you Pell Grant money.

How can you determine Pell Grant eligibility? By completing and submitting your Free Application for Federal Student Aid or FAFSA for short. Without this form, you will not be able to get a Pell Grant, which is why it should be at the top of your list if you’re considering going to school.

While completing a FAFSA for Pell Grants is one reason to complete this task, here’s another: Your FAFSA will determine if you’re eligible for financial aid from the schools you’re interested in as well. In other words, completing your FAFSA kills several birds with one stone.

Pell Grant Value

The maximum value of a Pell Grant for this 2022-2023 school year is $6,895. The amount you receive will depend on your financial need level, so if you make less income, you could be looking at a Pell Grant award closer to that maximum figure.

Also, your student status plays a significant role in how much grant money you’ll receive.
Full-time students receive more, while part-time students receive less.

Using Pell Grants

Besides their value, one of the biggest benefits of Pell Grants is how you can use them for a variety of school-related costs, such as:

  • Tuition
  • Books
  • Housing
  • Transportation
  • Laptop
  • Other supplies

Pell Grants are now suitable for every semester, meaning you can use them in the spring, fall, and even summer, thanks to a recent change in the rules. Your Pell Grant eligibility runs out after 12 semesters, so keep that in mind, as this isn’t perpetual award money.

Since some schools do not participate in the Pell Grant program, be sure to ask your school’s financial aid office if they’re one of them. If Pell Grants are no good where you want to attend, you may want to start adding more schools to your list of potentials.

Lastly, be sure to meet the minimum GPA requirements (your school will know the specifics) once you start receiving your Pell Grant money. If you don’t, you could become ineligible.

You may also like