Is FAFSA Money the Same As a Pell Grant?

Pupils in the latter decades of large college and their people could turn into preoccupied with approaches to fund large education and learning. The acronym FAFSA, for No cost Application for Federal Pupil Support, will become a widespread expression, as it is a prerequisite for practically any form of will need-dependent fiscal Assist. Is FAFSA dollars the identical as a Pell grant? No. FAFSA does not award any funds, but it does figure out eligibility for the federal Pell grant.

FAFSA

The U.S. Division of Training utilizes the method determined in the FAFSA to assess the want for economic Assist and the Family members's Anticipated Loved ones Contribution (EFC) for the applicant's substantial training. The system consists of Family members and University student earnings, assets, dimension of the Family, and how numerous Family members members other than the mothers and fathers are enrolled in establishments of publish-secondary training. Following filing the FAFSA, College students obtain the University student Assist Report, and their college also gets notification of Pell grant eligibility based mostly on the EFC.

Impartial Pupils and Unique Conditions

Federal law assumes the applicant's main Loved ones will be accountable for spending for submit-secondary instructional costs to the finest of their capacity. Impartial College students about age 24 may possibly qualify based mostly on their very own revenue as extended as they do not reside with their Loved ones or depend on them for economic Help. More youthful College students may possibly qualify as independents if they are orphaned, married, have youngsters or are veterans of the U.S. army. Specific Particular Situations enable primarily based Pupils to publish FAFSA details without having which includes the mother and father' economic information, which includes parental incarceration or legally documented parental abuse.

Federal Pell Grants

Just before getting re-known as in honor of the late Rhode Island Senator Claiborne Pell, a staunch academic possibility advocate, this kind of federal grants have been referred to as Fundamental Academic Chance Grants. Undergraduate College students who have by no means obtained a baccalaureate diploma and meet monetary eligibility needs as established by FAFSA may possibly get Pell grants. College students enrolled in the federal Instructor Schooling Help for School and Substantial Training (Educate) grant plan might also obtain Pell grants.

Awards

For the 2010 to 2011 educational yr, the optimum award for the Pell grant was $five,550. Award quantities differ because of to expenses at the University student's Unique institution of substantial understanding, economic want, complete or part-time attendance and whether or not the College student attends for the full instructional yr. Pupils may possibly only get Pell grants to attend one publish-secondary college at a time. To continue to be qualified for Pell grants, College students need to make "satisfactory educational progress" as defined by the institution.