A Federal Pell Grant, unlike a loan, does not have to be repaid. Pell Grants are awarded to undergraduate students who have not earned a bachelor's degree. Grant amounts depend on the student's expected family contribution (EFC); the estimated cost of attendance (determined by the institution); the student's enrollment status (full-time, part-time, ¾ time, or less than half-time); and whether the student attends for a full academic year or less.
Pell Lifetime Eligibility
Students may receive the Federal Pell Grant for no more than 12 academic semesters or the equivalent. The amount of Federal Pell Grant funds students may receive over their lifetime is limited by a new federal law to be the equivalent of six years of Pell Grant funding. Since the maximum amount of Pell Grant funding students can receive each year is equal to 100%, the six-year equivalent is 600%. To determine how much of the maximum six years (600%) of Pell Grant you have used each year, the U.S. Department of Education compares the actual amount you received for the award year with your scheduled award amount for that award year.
The Federal Supplemental Educational Opportunity Grant (FSEOG) program is for undergraduates with exceptional financial need. Pell Grant recipients with the lowest expected family contributions (EFC) will be considered first for an FSEOG. FSEOG does not have to be repaid. You can receive between $100 and $4,000 a year, depending on when you apply, your financial need, and federal funding.
Iraq and Afghanistan Service Grant
A student who is not eligible for a Pell Grant but whose parent or guardian was a member of the U.S. Armed Forces and died because of service performed in Iraq or Afghanistan after September 11, 2001, may be eligible to receive the Iraq and Afghanistan Service Grant. You must be under 24 years old or enrolled at least part-time in college at the time of your parent's or guardian's death. The grant award is equal to the amount of a maximum Pell Grant for the award year.