4 crucial lesser-known facts about the Pell Grant

The federal government has introduced a scheme known as the Pell Grant for students who need financial aid to bear the cost of higher education. It is only offered to the students who have just passed the higher school education. It can be applied when a student is going to get enrolled in the college for higher education. The eligibility criteria for this financial scheme are quite different from other financial grants for the students. A student can apply for this during pursuing a bachelor’s degree. Pell Grant is also known as the package of the students’ financial aid. The prime motto of the introduction of this grant is to help students continue their education and pursue the dream of achieving something big. In accordance with the Institute for College Access and Success, a non-profit California-based organization, it helps above 7.5 million students who belong to low-income families every year. Given below are the explanations of the few important lesser-known facts of the Pell Grant: Not all educational institutions are included Before going to take admission in any college, the students must know whether the college has this facility or not. It is important because, if there is no such facility then it can create a problem for the students who have taken admission here completely depending on this financial aid. In accordance with the Department of Education, it has been observed at present around 6,600 institutions have this facility for the students. Eligibility is determined by the status of enrollment Pell Grant has been specifically designed to help the poor and needy students who want to pursue high education. It is extremely helpful for undergraduate students to bear the education cost of any degree- professional, bachelor and associate. To obtain the benefit of this grant, then the students have to meet its eligibility criteria. The enrollment status is also important only the half-time and full-time enrolled students can apply for this. Income is an important factor As this financial aid scheme is especially for students who cannot afford a college education, income plays an immense role in the eligibility criteria of the Pell Grant. The number of family members also has equal importance. The maximum amount offered to a student by the Pell Grant is up to 64% of the cost of education. In general, the student of a family that earns less than $20,000 per annum has the maximum probability of getting the eligibility of this scheme. The grant can also be used for summer courses Earlier, the amount that can be obtained from the Pell Grant financial aid can be only used for fall and spring college programs. However, about two years ago, this facility has been included college summer programs. It assists the students to finish their degree faster than before and simultaneously maintain the cost of the college. There are many other lesser-known facts which you can know about this popular student financial aid scheme.