Income Guidelines for Federal Grants

Federal Pell Grants help with college expenses.

Earning a college degree can benefit your life in many ways, such as increased career and salary opportunities. Federal Pell Grants can help you pay for college, if you meet income and other guidelines.

Program Overview

Unlike student loans, the money you receive from Pell Grants does not need to be repaid. Pell grants are offered to students who have not yet earned a bachelor's degree, as well as some individuals who are enrolled in a post-baccalaureate teacher certification program.

Eligibility Guidelines

Eligibility for a Pell grant is based upon the results of your Free Application for Federal Student Aid, commonly known as FAFSA. When you file a FAFSA, your income, family size, number of college students in your family -- and if you are a dependent student, your parent's income and assets -- will be calculated to determine a figure known as the Expected Family Contribution, or EFC. If your EFC is under the cutoff point, you maybe eligible to receive a Pell grant; for the 2010-2011 school year, the maximum EFC is $5,273.

Other Factors

In addition to family contribution guidelines, there are several other factors that will be taken into account when determining your eligibility for a Pell grant. These include the number of credits you are taking per semester, and the type of program you are enrolled in, such as an associate or bachelor's degree. Your overall financial need -- based on your expected family contribution and the cost of attendance at your school -- will also be considered.

References

• Ed.gov: Federal Pell Grant Program
• Student Aid on the Web: Federal Pell Grant
• Pell Grant Eligibility.net: Determining Pell Grant Eligibility
• Student Aid on the Web: Student Aid Eligibility

Resources

• United States Department of Education: Free Application for Federal Student Aid