What Is A Pell Grant?

Now that you’re hopefully finished asking yourself the question, “what is a Pell Grant?”, you can now move onto some more concrete, and applicable questions such as, “how can I apply for a Pell Grant?”. The good news is that it is relatively easy to apply for a Pell Grant, and learning how to apply for a Pell Grant is fairly clear-cut, and simple. To start with you must realize that the only application you need to fill out is the FAFSA, or free application for student aid. The FAFSA is the Department of Education’s universal application for federal student aid, and it is the Pell Grant application that will make you eligible to receive the Pell Grant.

Filling out a FAFSA is not that difficult, and you first must make the decision to either fill out a written FAFSA, or fill one out online. If you decide to opt for a written application, you can obtain a copy from either your financial aid department at school, by calling this number 1-800-4-fed-aid, or by going to the official website for the FAFSA, fafsa.ed.gov. Filling out a written FAFSA can take longer than completing one online, and it is therefore recommended that you choose to fill out the online form, instead of its written counterpart. Filling out an online FAFSA is a fast and efficient, and you won’t have to worry about mailing anything at all. If you decide to go with the online version, you can fill one out at the official FAFSA website, fafsa.ed.gov.

The first thing you are going to have to do is obtain your PIN, as this is the code that will allow you to electronically sign your application. Once you have obtained your PIN, you can then go ahead and begin to fill out the online form. To make the process go by much faster it is critical that you have all of the appropriate documentation, and other relevant information by your side during the process. This will make things go by much faster, and should allow you to complete the entire application in about an hour or two. The most vital information that you should have close by while filling out your FAFSA includes the following:

-spouse’s tax documents if you are married
-parents’ tax documents if you are still considered a dependent
-your W-2 forms, and federal tax returns from the previous year
-driver’s license
-social security number
-your current untaxed income statements from the previous year
-all of your bank statements and other financial records
-your investment records and statements
-if you are not a U.S. citizen, your alien registration card, or permanent resident card
-if you own a home, the appropriate mortgage information
-if you own a business or farm, all of the appropriate business and farm records

This has been a list of the most important information you should have close by during the filling out of your FAFSA. The time it takes to fill out your application should be drastically reduced by having this information at your disposal, and not taking the time out to gather such items is only going to make the application process more tedious. Once you have filled out your FAFSA and submitted it, an SAR will be generated that will contain all of the information that you submitted on your application. The SAR, or Student Aid Report, should then be checked for accuracy, and to see your EFC, and your eligibility status for the Pell Grant. Your SAR should contain all of this information, and after checking it you should therefore be able to determine your eligibility for the Pell Grant.

This is pretty much all that is required on your end, and going forward all of your information will be sent to your college for review by the appropriate financial aid department. Once you are eligible to receive Pell Grant aid, your school will then use a formula to determine the actual Pell Grant amount you are able to get. Your EFC will play the most important role in determining this, along with other factors such as your enrollment status, and cost of attendance. You should expect to hear a response back from your school at some point during the springtime, and it should come in the form of an award letter that details all of the financial aid you were able to qualify for. That is how to apply for a Pell Grant, and just make sure that you fill out your FAFSA by the appropriate deadlines to make sure that your application can still be considered for Pell Grant aid.