by Kevin Mai
As students approach the end of high school they must consider their next step. Some will enter the work force, while others will attend college and continue their education. Unfortunately, this decision is not always based on what the student wants. Too often there is a financial burden that cannot be met. This prevents many kids from advancing to college, and that includes those that might otherwise be a successful college student. Thankfully, there are ways to get money for college through grants and loans, assuming the student in question fits the criteria. Grants, in particular, are popular because, unlike traditional loans, they do not have to be repaid. Pell grants could very well be the key to a student's post-secondary education.
The federal government handles the distribution of Pell Grants. Some type of grants require a student to have achieved a certain academic status. Others are only available for those who are seeking a degree in a specific field such as math or science. For these types of grants, the advantage goes to those with excellent grades or an interest in a certain field of study.
On the other hand, Pell Grants are awarded to those who have a financial need. They are aimed at students from low-income families and can be obtained for both graduate and undergraduate studies. The competition for these grants does not take grades or fields of interest into account. They are specifically for students who have a need for college money. Still, there are some requirements.
To start, anyone who applies for a Pell Grant must be a citizen of the United States. They must have their high school diploma or GED as well. There are no exceptions made for these requirements. Any student applying for a grant of this type must also be able to prove their low-income status or their need for federal aid due to their financial status.
The government uses a standard formula for determining one's financial status. The income and assets of the student and the student's parents are considered. An applicant's household is measured as well. Things like the number of family members and those who are also going to college are part of the assessment.
And while there are a variety of factors that determine one's eligibility for such a loan, there are also variables that determine the amount of the load should one qualify. These can include but are not limited to how much money the family can contribute, the price of tuition at the institution of choice, and whether or not the student will be attending full time or part time.
Of course these loans can make a real difference and can help financially disadvantaged students afford to continue their education, but there are limits. Currently, the maximum aware a student may receive is 5350 dollars for a given school year. Only one award is granted per school per year, and applications for a given year must be received by the end of June for the upcoming school year.
While there are restrictions in place for Pell Grants, they are generally there to help to insure that those with the most need obtain the funds they require to further their education. For those that qualify, they can be the difference between a high school diploma and a college degree.
Are you a student who wants more information regarding <a href="http://www.schoolgrantsonline.net/">School Grants</a> and <a href="http://www.schoolgrantsonline.net/school-grants-for-women/">Women Grants</a>? Make sure to visit schoolgrantsonline.net.
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New Unique Article!
Title: Students Should Know About Pell Grants
Author: Kevin Mai
Email: maimediagroup@gmail.com
Keywords: pell grants,financial aid,school aid,college aid,grants,loans,school,college,education,finance
Word Count: 553
Category: College
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