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A Pell Grant is a subsidy the U.S. federal government provides for students who need it to pay for college. Federal Pell Grants are limited to students with exceptional financial need, who have not earned their first bachelor's degree, or who are enrolled in certain post-baccalaureate programs, through participating institutions.
The Pell Grant is a form of need-based federal financial aid that typically does not have to be repaid, which makes it highly desirable. It is awarded by the U.S. Department of Education to help ...
The "need" of each student is a figure determined separately for each student. The Free Application for Federal Student Aid application (FAFSA) is generally used for determining federal, state, and institutional need-based aid eligibility. At private institutions, a supplemental application may be necessary for institutional need-based aid.
President Joe Biden said people who received Pell Grants may have up to $20,000 of their federal student loans forgiven.
The Free Application for Federal Student Aid (FAFSA) is a form completed by current and prospective college students (undergraduate and graduate) in the United States to determine their eligibility for student financial aid.
The Iraq & Afghanistan Service Grant is awarded to students who are ineligible for a Pell Grant only because of the program’s need requirements and whose parent or guardian died as a result of military service in Iraq or Afghanistan after September 11, 2001. The maximum award is $7,395 for the 2023–2024 school year.
In the United States, federal grants are economic aid issued by the United States government out of the general federal revenue. A federal grant is an award of financial assistance from a federal agency to a recipient to carry out a public purpose of support or stimulation authorized by a law of the United States.
In July 2015, a Federal Reserve Bank of New York Staff Report concluded that institutions more exposed to increases in student loan program maximums tended to respond with disproportionate tuition increases. Pell Grant, subsidized, and unsubsidized loans led to increases of about 40, 60, and 15 cents on the dollar, respectively.