Pell Grant Calculator
The Pell Grant is available for low-income students that attend a post-secondary institution that is approved for Title IV funding. The Pell Grant is available for undergraduate students and students attending a qualified teaching credential program. This must also be the studentís first undergraduate degree. In order to be eligible for a Pell Grant, the student must complete the FAFSA (Free Application for Federal Student Aid). The FAFSA takes into account the applicantís income, assets, number of dependants, cost of attendance, and other financial factors. The more income and assets the student (Independent Student) or studentís family (Dependant Student) the less likely they will receive a Pell Grant.
Once the student has submitted the FAFSA, they will receive an EFC (Expected Family Contribution) score found within their SAR (Student Aid Report). The SAR shows the applicantís financial information given within the FAFSA and lets the applicant know if there is any missing financial information that the Department of Education still needs. Having a low EFC score will increase the chances that the student will receive a Pell Grant. An EFC score of zero will qualify the student for the maximum Pell Grant amount.
If youíve already received your EFC score, weíve provided a Pell Grant Calculator below that will determine how much Pell Grant money you will receive for the upcoming school year/ Again, students with a zero EFC score will receive the full Pell Grant amount, but students that are in the grey area can determine how much they receive very easily by using the Pell Grant Calculator below.
Pell Grant Payment
Your financial aid office will determine the date of issuance for students that will receive a Pell Grant. Most financial aid offices will distribute the Pell Grant within the first two weeks of the school semester. If you havenít received your Pell Grant award and itís been more than two weeks then you should contact your schoolís financial aid office to determine when you will receive your funding.
Most financial aid offices will apply the Pell Grant funds towards any outstanding school tuition and school related fees. If there are no tuition or fees due then you will receive either a check or funds will be distributed through electronic transfer into your checking account. An electronic transfer applicant must be completed and a copy can be picked up at the financial aid office.
The Pell Grant is a great option for students considered low-income and in need of additional money to pay for school. Students that receive the Pell Grant can use their money to pay for anything school related. A receipt does not need to be saved for the items purchased, since neither the financial aid office nor the federal government will ever ask to see proof that school related items were purchased with the Pell Grant funds. The Pell Grant is one of the largest federal government school grants and has helps millions of students afford college.