Federal Pell GrantJacqueline Benavides

Myrka Valencia

Background Information

• What is a grant?A grant, such as a Pell Grant is money the government provides for students who need it to pay college

GRANTS UNLIKE LOANS DO NOT HAVE TO BE PAID BACK

• How many people apply to FAFSA each year?

About 2/3 of full time college students receive some type of financial aid.

OriginsWhere did it come from?• Congress established the Basic Educational Opportunity Grant Program, later

renamed the Pell Grant program in 1980 after Senator Claiborne Pell (D-RI), in the 1972 reauthorization of the Higher Education Act, which part of President Lyndon Johnson's Great Society domestic agenda or federal reform movement.

Award Amount What is the maximum amount?• The maximum Pell Grant for the 2015- 2016 award is $5,730What depends in how much money you receive one you receive grant?• Depends on your EFC• Cost of attendance• A) Tuition and fees• B) Room and board• C) books• D) supplies• Amount of time you attend college• A) full time/ part time• B) full year/ less (semester)• YOU CANNOT RECEIVE PELL GRANT FUNDS FROM MORE THAN ONE COLLEGE AT A TIME

QUICK WRITE #1

•What do you believe the requirements for this

Grant are? If so why? Is it fair?

About Pell Grant• What are its requirements?Be an undergraduate student who ha not earned a bachelors degreeIs a U.S citizen or an eligible non-citizen Have a high school diploma or GEDIf government believes your EFC is low

• How can your be eligible to receive grant?

The U.S Department of Education uses a standard formula to evaluate the information you supply when applying for a Pell Grant. This formula produces a number called Expected Family Contribution (EFC) which determines if you are eligible or how much money (grant) will you receive

• What is EFC?

Expected Family Contribution of how much money your family will have to pay out of pocket for your education .

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When is the best time to apply for this grant? If received how

do you believe a students receives there money?

ApplyingHow and when is the best time to apply?

First come First served, Before March 15 if possible

Just like any other federal, state, and some institutional financial aid programs: you apply for Pell Grants by completing the Free Application for Federal Student Aid (FAFSA)

REMINDERS:

Each school has s specific deadline for FAFSA completion

For some it is a requirement

What is the FAFSA’s contact number?

(1800-4-FED-AID) or (9154333243)

Disbursement • How will you receive money granted by Pell grant?

A college may credit Pell Grants funds to your account, pay you directly or use a combination of these two methods

• How will the university receive the money?

A college must notify you in writing of the amount of the Pell Grant, and how and when payments are made.

• How will the university distribute it?

Colleges must pay at least once per term (a full semester in advance) weather you are only attending a semester, trimester, or quarter.

Colleges that don’t follow these traditional payments must pay the students at least twice per academic year.

References http://febp.newamerica.net/background-analysis/federal-pell-grant-program