What Is a Pell Grant? – BigFuture

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class="cb-band-hero-content cb-padding-top-72 cb-padding-xs-top-48"> <h1 class="cb-h1-lite cb-font-weight-regular">What Is a Pell Grant?</h1> </div> </div> </div> </div> </div> </div> <div class="row hidden-md-up cb-border-sm-down-bottom rl"> </div> <section class="d8-wysiwyg cb-margin-top-72"> <p>A Pell Grant is a source of financial government funding provided to students who need to pay for college. Grants, unlike loans do not have to be repaid. </p><p>Eligible students receive a specified amount for each year under this program. In 2022-23, $27.2 billion in Pell Grant funds were awarded to 6.0 million students in the United States.</p><h2>Am I eligible for a Pell Grant? </h2><p>Pell Grants are usually awarded to undergraduate students only who:</p><ul><li>Have exceptional financial need.</li><li>Have <span> </span>not earned a bachelor’s, graduate, or professional degree. </li><li>Are enrolled or accepted for enrollment as a regular student in an eligible degree or a certificate program. </li><li>Have earned a high school diploma or a GED, or have completed a high school education in an approved homeschool setting. </li><li>Are U.S. citizens or an eligible noncitizen. </li></ul><p>In some cases, a student enrolled in a post baccalaureate teacher certification program might receive a Federal Pell Grant. You may also be eligible to receive a Federal Pell Grant if you are confined or incarcerated and enrolled in an approved Prison Education Program.</p><h2>How much does a Pell Grant cover? </h2><p>The maximum Federal Pell Grant award is $7,395 for the 2024-25 award year (July 1, 2024, to June 30, 2025).</p><p>The amount you get, though, will depend on: </p><ul><li>Your <a href="https://bigfuture.collegeboard.org/pay-for-college/get-started/student-aid-index">Student Aid Index (SAI)</a> from your completed <a href="https://studentaid.gov/apply-for-aid/fafsa/filling-out">2024-2025 <span>Free Application for Federal Student Aid (FAFSA®).<strong> </strong></span></a></li><li>The Cost of Attendance (determined by your school for your specific program).</li><li>Your status as a full-time or part-time student.</li><li>Your plans to attend school for a full academic year or less. </li></ul><p>You cannot receive Pell Grant funds from more than one college at a time. </p><p>To further assist in understanding your SAI, use the <a href="https://npc.collegeboard.org/app/aidquiz">Financial Aid Quiz</a>. This quiz provides an estimated range of your <a href="https://bigfuture.collegeboard.org/pay-for-college/get-started/student-aid-index">Student Aid Index (SAI)</a>, which helps colleges and schools determine how much federal financial aid you may qualify for. </p><h2><span>How will I get my Pell Grant?</span></h2><p>A college may credit Pell Grant funds to your account, pay you directly, or use a combination of these two methods. The college must notify you, in writing, about the amount of the Pell Grant, and how and when payments are made. Colleges must pay at least once per term, whether that is a semester, trimester, or quarter. Colleges that don’t use formally defined traditional terms must pay you at least twice per academic year.</p><p>Learn more about <a href="https://studentaid.gov/complete-aid-process/receive-aid">how (and when) you’ll be paid</a>. </p><h2><span>How do I apply for a Pell Grant?</span></h2><p><span>You apply for Pell Grants, as well as all federal, state, and some institutional financial aid programs, by completing the </span><a href="https://studentaid.gov/apply-for-aid/fafsa/filling-out"><span>Free Application for Federal Student Aid (FAFSA)</span></a><span> online. </span></p> </section> <section > <h2 class="cb-h3 cb-margin-bottom-24 field-label-inline">Resources</h2> <div class="row flex-xs-column-only cb-gutterv-24 hide_super_event_label"> <div class="col-xs-12 display-flex"> <div class="cb-card cb-card-title-link flex-grow-1" role="region" aria-labelledby="card-1837975675-heading"> <div class="cb-card-header"> <p class="cb-text-overline-small" id="card-1837975675-type">Link</p> </div> <div class="cb-card-content"> <a href="https://studentaid.gov/h/apply-for-aid/fafsa" aria-labelledby="card-1837975675-heading" aria-describedby="card-1837975675-desc card-1837975675-type card-1837975675-meta" target="_blank" aria-label="link to FAFSA Application on studentaid.gov" > <h3 id="card-1837975675-heading" class="cb-card-title "> FAFSA Application </h3> </a> <p class="cb-card-desc" id="card-1837975675-desc"> FAFSA Application </p> <div class="cb-card-action"> <ul class="cb-meta-tags" id="card-1837975675-meta"> <li>Go to FAFSA</li> </ul> <span class="cb-glyph cb-north-east" aria-hidden="true"></span> </div> </div> </div> </div> </div> </section> <div class="cb-margin-top-48 hidden-md-up"> <div class="cb-margin-bottom-72"> <div class="cb-card cb-card-cta cb-blue2-bg cb-white-color"> <div class="cb-card-header justify-content-center"> <span class="cb-glyph-content cb-dollars" aria-hidden="true"></span> </div> <div class="cb-card-content cb-align-center"> <h3 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