With the current condition of the economy and the rising cost of living, fewer households nowadays could afford sending their kids to college. It is everyone's priority to earn enough for subsistence level.
Due to the financial hardships that most American households face, scholarships and college grants are opportunities that everyone hopes to grab. At the top of most household's lists are Pell Grants. Compared to student loans, Pell Grants are financial assistance grants that need not be paid off. Students that qualify for this grant receive assistance that is as good as cash. For this reason, the process of applying for a Pell Grant is really tedious.
In order to understand how you would qualify for the grant, it would be best to know the Pell Grant requirements. There are certain conditions on how a student becomes eligible and a lot of documents need to be submitted to apply.
As for Pell Grant reqquirements, a student who has a higher financial need is more likely to be awarded. Financial need is the difference between the Cost of Attendance and Expected Family Contribution. CoA is the expected cost of education while EFC is a family's capacity to pay.
Pell Grant has its reservations and not everyone is qualified to get it. If your family belongs to the lower middle class and doesn't earn much, then you may be qualified. This is the main factor considered in the EFC. A Student's financial need has to be high in order to be granted. Its because of this that is why students with families that have low EFC are more likely to be granted. As of 2011, the threshold for EFC is $5,273.
Next among the Pell Grant requirements is the FAFSA (Free Application for Federal Student Aid) form. This application for will ask for the student's income, family income, household size, and number of family members attending post-secondary institutions.
Pell Grant requirements also state that you should not have finished a bachelor's degree in the past. And finally, and quite obvious as well, being incarcerated in a federal institution is a big NO.
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