Federal Pell Grants are available if you are getting an undergraduate degree for the first time. You cannot use a Pell Grant for master’s degree or another professional degree program. The one exception is if you are enrolling in a post baccalaureate teaching certificate program.
You will not qualify if you have already earned a bachelor’s degree or higher. You are also not eligible if you are incarcerated in a federal or state penal institution.
Using the FAFSA form, you can apply for a Federal Pell Grant each year. As of 2021, the maximum annual award is $6,495.
Factors that influence the amount you receive include the following:
- How much your family can contribute
- How much your school costs
- Whether you are going full- or part-time
- If you are attending school all year
By means of example, if the cost to attend your school is more than $6,345 a semester and your family expects to contribute $1,000, you might receive $3,971. If your family cannot make any contributions to your education, your Pell Grant might be $4,759.
You might receive your annual Pell Grant in two or more payments, depending on your school’s semester program.
For instance, you may receive half for fall and the other half for spring. If you go to school in the summer, you may receive 150 percent of your award amount.
You will be able to finish your studies faster. You can get a Pell Grant for online school as long as it is accredited. If you need additional help, you may qualify for additional grants.