Federal Pell Grant Award Your school can apply Pell Grant funds to your school costs, pay you directly (usually by check), or combine these methods. The school must tell you in writing how much your award will be and how and when you'll be paid. Schools must disburse funds at least once per term (semester, trimester, or quarter). Schools that do not use semesters, trimesters, or quarters must disburse funds at least twice per academic year. The Federal Stimulus Package that was passed by the senate on
The maximum Pell Grant award for the 2007-08 award year (July 1, 2007 to June 30, 2008) 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 amount you get, though, will depend not only on your financial need, but also on your costs to attend school, your status as a full-time or part-time student, and your plans to attend school for a full academic year or less.
If the Pell Grant award amount isn't enough for college then there are other options that are available. One Option is the Parent (PLUS)Loan, which is where parents are able to qualify for a loan to pay for their child's education. For more information on the Parent Loan, please visit ParentLoan.org to find out more information and to see if you or your parents qualify for this program.
IMPORTANT AWARD UPDATE
