1) What is a Pell Grant?
A Pell Grant is a type of financial aid that can help pay for tuition, fees or other educational expenses. Pell Grants do not have to be repaid.
2) How do I apply for a Pell Grant?
To apply for a Pell Grant you will need to fill out a Free Application for Federal Student Aid (FAFSA). If you meet the eligibility requirements you will receive a Pell Grant as a part of your financial aid package.
3) Who is eligible for a Pell Grant?
To receive a Pell Grant, you must:
Demonstrate financial need by submitting a Free Application for Federal Student Aid (FAFSA);
Be a U.S.citizen, U.S national or eligible non-citizen;
Have a valid Social Security Number;
Have a high school diploma or General Education Development (GED) certificate OR demonstrate “ability to benefit” by passing an approved test;
Meet satisfactory academic progress;
Be enrolled in an eligible post-secondary school;
Be working toward a first undergraduate degree or teaching credential;
Certify that the funds will be used only for educational purposes; and
Be registered with the Selective Service if you are a male between the ages of 18 and 25.
4) What does a Pell Grant provide and how long will it last?
A Pell Grant provides financial aid that can be used for tuition, fees and educational expenses. There is no limit on the number of Pell Grants you can receive as long as you continue to meet the eligibility requirements. Pell Grants range from $400 to $4,310 in the 2007-2008 academic year (July 1, 2007 - June 30, 2008).
5) What can I use a Pell Grant for?
Pell Grants can be used for tuition, fees or other educational expenses.
6) Are there any medical eligibility requirements to receive a Pell Grant?
No. Pell Grants are based on financial need not disability status. However, if you have special circumstances that impact your ability to contribute to your education, such as needing significant medical expenses, you may wish to check with your financial aid office to inquire whether adjustments can be made to your financial aid package. Disability related expenses can be used to increase your financial aid award.
7) Does what I have in the bank and/or what I own affect my eligibility for a Pell Grant?
Yes. Pell Grant eligibility is based on financial need. Although students with family incomes up to $45,000 may be eligible, most awards go to students with family incomes below $20,000.
8) When can I receive benefits from a Pell Grant?
You can receive your Pell Grant once you have accepted a financial aid offer from your school. Funds are usually available at the beginning of the semester or quarter.
9) Can I qualify for a Pell Grant while I am eligible for the Supplemental Security Income (SSI) program?
Yes. Pell Grants are not considered income or assets if used:
during the academic period for which it was intended; and
for tuition, fees or other educational expenses.
If you plan to use your Pell Grant in the future, the Grant can only be excluded during the month that you received the grant. Thereafter, the Grant will be treated as an asset.
10) Can I qualify for a Pell Grant while I am eligible for the Social Security Disability Insurance (SSDI) program?
Yes. A Pell Grant will not affect Social Security Disability Insurance eligibility because SSDI does not count income or assets.
11) Are there rules for immigrants to qualify for a Pell Grant?
Yes. To qualify for a Pell Grant you must be able to live and attend school legally in the United States as a U.S. citizen, U.S. national or eligible non-citizen.
If you are an eligible non-citizen, you must be a:
U.S. permanent resident (has Alien Registration Card or I-551);
Conditional permanent resident (has I-551C Card);
Refugee;
Asylum grantee;
Parolee; or
Cuban-Haitian entrant with an Arrival Departure Record (I-94) from the Immigration and Naturalization Service (INS).
12) How long can I continue to receive a Pell Grant?
You can receive a Pell Grant as long as you continue to meet the eligibility requirements. However, you can only receive one award per academic year.
13) Can I receive a Pell Grant if I’m attending school part-time?
Yes. You can receive a Pell Grant if you are attending school part-time, or are enrolled for less than a full academic year. However, your award may be reduced.
14) What documentation will I need to apply for a Pell Grant?
To apply for a Pell Grant you will need to submit a Free Application for Federal Student Aid (FAFSA). You need the following information in order to complete your FAFSA:
Actual or estimated tax returns;
W-2 Forms and other records of earnings;
Records of untaxed income (e.g. Social Security, CalWORKs and veteran’s benefits records)
Investment records;
Bank statements;
Mortgage information;
Business and farm records;
Driver’s license; and
Social Security Number.
For married or dependent students family financial information will be needed as well.
15) Are there other types of financial aid if I do not qualify for a Pell Grant?
Yes. If you are ineligible for a Pell Grant, you may be eligible for other types of aid. You should speak with your financial aid officer for information on other types of aid. The KSG Scholarship Center provides information on scholarships for students with disabilities.
Source :
http://www.disabilitybenefits101.org/ca/programs/income_support/student_aid/pell/faqs.htm#_q1504
Monday, June 2, 2008
Pell Grants : Frequently Asked Questions
About Pell Grant
The Pell Grant program is a type of post-secondary, educational federal grant program sponsored by the U.S. Department of Education. It is named after U.S. Senator Claiborne Pell and originally known as the Basic Educational Opportunity Grant program. Grants are awarded based on a "financial need" formula determined by the U.S. Congress using criteria submitted through the Free Application for Federal Student Aid (FAFSA).
The Pell Grant is covered by legislation titled the Higher Education Act of 1965, Title IV, Part A, Subpart 1; 20 U.S.C. 1070a.
Because of the high levels of need required to obtain a Pell grant, receipt of them is often used by researchers as a proxy for low-income student attendance and to indicate the economic diversity of the student body.
Amount of Grant
Federal budget legislation passed in early 2006 cut the federal financial aid budget by $12.5 billion. While the maximum Pell Grant legislative limit was raised to $5,800 through 2011, maximum Pell grant awards were not funded at this level. The maximum award available to students has been frozen at $4,050 since 2003-04.
For 2006-07, the maximum Pell grant available to students remains $4,050. Students with less need will receive smaller amounts. Grant moneys can be used for tuition, fees, and educational expenses (such as textbooks or required materials for a class).
For the award year of 2007-2008 the maximum Pell Grant Award is $4,310. The maximum award for the 2008-09 award year (July 1, 2008 to June 30, 2009) is $4,731. The maximum can change each award year and depends on program funding. The maximum grant is to increase to $5,400 by 2012.
Due to high increases in the cost of post-secondary education and slow or no growth in the Pell grant program, the value of Pell grants has eroded significantly over time. In 2005-06, the maximum Pell grant covered one-third of the yearly cost of higher education at a public four-year institution; twenty years ago, it covered 60% of a student's cost of attendance.
From Wikipedia, the free encyclopedia
Sunday, June 1, 2008
Bad Credit Short Term Loans - A Big Help For A Short Time
Some people after attaining loans do not want to stick to the burden of repaying the amount for a long period of time. For them best scheme available in market is short term loans obviously when they are in need of external monetary support. If the borrower is suffering from credit problem then it becomes some what problematic to secure money from market. But with the introduction of bad credit short term loans this is also gone.
A person can earn this tag because of - declaration of bankruptcy, arrears, CCJ's or late payments in previously taken debts. In all these cases your credit score is evaluated below 620 and you will be seen as a potentially high risky borrower. But bad credit loans will help you to get the money at reasonable rate.
Some features:
Because of the borrower's low credit score lender do not give a large amount of money. You can secure an amount up to £25000 through these loans. Interest rate will be high. It can go up to 20% APR. Because of the short nature of these loans you have to repay the amount within a time limit of 5 years. Be regular in your monthly installment because it will help you to improve your credit score again and you obviously do not want to repeat the past again.
These loans can be secured either by providing security or by not providing any. If you provide collateral against the money, lender considering security will reduce rate of interest. But with unsecured loans you do not require to place any type of security against the loan.
These loans can be secured from offline market as well as online market also. Going online will save you a lot of time and will bring you the best deal available. You can compare all the quotes in market and select the best among them.
