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College students who struggle to afford tuition and other expenses have an avenue to help pay for their education that doesn’t involve federal loans: the federal Pell Grant.
To qualify for a Pell Grant, you need to have a minimum GPA (2.0) and demonstrate exceptional financial need.
If you fit in those categories, here’s what you need to know.
What Is a Pell Grant?
A Pell Grant is a form of federal student financial aid that, unlike a loan, doesn’t need to be repaid. The US Department of Education awards federal Pell Grants to low-income students who qualify. The grants cover tuition, room and board , and other educational fees and expenses.
The Pell Grant is a need-based program that, unlike federal student loans, never has to be repaid. With total student loan debt in the US reaching nearly $1.75 trillion in 2022 affecting more than 43 million borrowers, this federal grant is an attractive alternative for students who qualify.
Created in 1972, it is named after US Sen. Claiborne Pell of Rhode Island and is the largest education grant program offered by the federal government.
Like other federal student aid options, to apply for a Pell Grant students need to fill out the Free Application for Federal Student Aid (FAFSA) form.
Who Is Eligible for a Pell Grant?
Pell Grant funds are available at 6,000 educational institutions in the country. To be eligible, you must:
- Demonstrate “exceptional financial need” on the FAFSA application.
- Be a US citizen or eligible non-citizen.
- Have yet to receive a bachelor’s, graduate, or professional degree.
- Maintain a minimum GPA of 2.0. Note: Individual institutions may have different GPA requirements.
Students with a parent who died in the line of duty – as a military veteran or public service officer – may also be eligible if they are under 24 and enrolled at least part-time in a college or career school.
Graduate students aren’t eligible for the Pell Grant, though some students…
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