When and How to Apply for a Pell Grant

It takes courage to return to school. Potential expenses can be daunting. The critical question is how to pay for college and the answer is financial aid. One of the best sources for the money you need to attend school can be found in federal aid, and one of the most popular resources is the Pell Grant. Pell Grants are funds that the federal government uses to help students pay for college. The money does not have to be paid back.

There are eligibility requirements. You must be an American citizen or eligible noncitizen; have a high school diploma, GED, or capacity to benefit from the program; and be pursuing your first bachelor's degree. Exceptions exist for graduate students seeking teaching credentials.

The award is based on monetary need. A formula is used to determine whether you qualify. It includes such variables as income, number of family members, and other facts pertaining to your financial life. It also considers the cost of your education including tuition and fees, living expenses, books and other supplies, cost of dependent care, and costs incurred because of a disability. You can apply for a Pell Grant at any time during your undergraduate years should your financial situation change.

Recently, there have been significant changes to Pell Grant guidelines. There has been an increase in semesters that meet the requirements. The minimum hours of enrollment have been eliminated. The amount of the grant will be reduced to meet your needs. You will also be able to qualify for aid regardless of the time of year you choose to attend classes. However, the grants are awarded at the beginning of the traditional school year, so you need to meet the required deadlines.

Before you can complete the online application, everyone who will sign it electronically needs to acquire a PIN. If you are a dependent, your parents will need to apply for one. If you are married, your spouse will have to. You will also need a PIN. The FAFSA home page includes a link to the PIN Site on the navigation bar. It will walk you through the process. It takes a few days to receive a PIN, so it is to your advantage to do that as soon as possible. That way, you should receive it by the time you have completed the FAFSA and are ready to submit it.

Start the process by visiting the FAFSA (Free Application for Student Aid) website at http://www.fafsa.ed.gov/. The home page includes information about the critical deadlines you need to keep in mind while gathering the required information. Once you have selected a university, you should check that deadline as well.

In order to qualify for federal aid, you are required to fill out a FAFSA. There are several things you need before you start the application process including W-2 form(s) and other documentation of income for your parents if you are a dependent, your spouse if you are married, and yourself; bank statements; your Social Security number, and your driver's license information. The site provides a worksheet so you can feel confident when you begin to fill out the form.

Once you have completed the worksheet and have your information ready, it is time to begin filling out the electronic form. If you prefer, you can mail in the final form, but do not send in the items you used to fill out the form. If you have impaired vision, a TTY line is available to provide assistance. Once you begin, if you have to stop for any reason, you can save your input and return to complete the application at a later time. You will have a username and password so you can return at your convenience.

Once you complete the application, you will be shown your SAR (Student Aid Report). It contains all of your information for you to review before submission. It is easy to read and makes it simple to find errors. You are able to return to the form in order to make the necessary corrections. After you submit the form, you can check on the status of your request online or by telephone.

Once you receive your award, you are ready to pursue your dream of a brighter future. With the financial boost from your Pell Grant, you know how to pay for college.

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