I am planning to apply for the PELL Grant next semester. Does anyone have any experience with it?

Question

I have so many questions regarding the PELL Grant:
1) I'm a white female and completely financially dependant, how much money could I get?
2) How do they determine how much money you will get?
3) Will it cover my housing cost or some of it?
4)What are the requirements to qualify for it and are there people who get more than others.

Anyone who knows anything at all, I'll take any information I can get.

Websites are much appreciated as well.

Thank you so much!

Answer 1

First off, race has nothing to do with your Pell eligibility. The maximum Pell Grant for a full-time student is currently $4,050. This is true whether your school costs $5,000/year or $50,000 a year -- and whether you are dependent or independent, black or white, etc.

Unlike some federal financial aid programs, Pell grants are actually pretty easy to calculate. This is done using a table that compares your Expected Family Contribution (EFC) with the Cost of Attendance (COA) at your school. Your school can tell you what your COA is; your EFC is printed fairly prominently on your FAFSA results. The table is no secret: you can view it here: http://www.ifap.ed.gov/dpcletters/attachments/2006paysched.pdf.

Pell, like most Financial Aid, CAN be used for housing costs... However, given that the maximum grant is $4,050, it rarely stretches very far.

Yes, absolutely, there are people who get more Pell than others, since EFCs (and educational costs) can vary so greatly from student to student. For example, people with lower EFCs will get more Pell than people with higher EFCs (in fact, using the current table, people with EFCs higher than $3,850 will be entirely ineligible) A person attending full-time will generally get less Pell than if that same person attended half-time (or less).

Note: Perkins Loans are still around. There had been a scare a while back that they would become obsolete, but they are still alive and kicking (and at 5% interest, no less!)

Answer 2

Just so you know, unless you are 25, in the military (and this is a new one), have a child or are married you will need to give your parents financial information. No matter if you are financially dependent or not.
you can apply online at www.fafsa.ed.gov
I'm sure someone else has said this but just in case:
It's a federal grant so your race doesn't matter in eligibilty. You'll need your tax information for the previous year, (and possibly your parents info). They determine how much you get by your income and whether or not you are a full time student. They use your income to see what contribution you would have to make.

Answer 3

-You may or may not quaify for the pell depending on how much your parents annual income is.

It will cover your housing but the max amount depends on two things how much everything will cost; tuition, books, housing and then a figure with be disturbed to you!

But if you parents both make more then 70,000k a year then you might not qualify!!!

Answer 4

No more Perkins Loans as of this academic year.

Pell Grant info is here.

http://studentaid.ed.gov/PORTALSWebApp/students/english/PellGrants.jsp?tab=funding