Eligibility

• Applying for a Pell Grant is a free process reserved for students whose family income is about $60,000 or less. Due to the amount of applications received each year, the grants are usually afforded first to those students whose families have earned less than or around $30,000 for the calendar year.
  
  

Features

• Pell Grants are available for undergraduate studies towards a bachelor's degree, as well as professional degrees, for students pursuing them for the first time.
  
  

Considerations

• The minimum payout for approved grants is $609 for the 2009-2010 school year. The maximum payout is $5,350 for the year. The award amounts are determined by your tuition amount, your income and whether you will attend school full or part time.
  
  

Effects

• The Pell Grant can be used at over 5,000 schools in the United States. The financial aid offices provide application assistance at the schools approved as a Pell Grant site.
  
  

Application

• Completing the Free Application for Federal Student Aid (FAFSA) form is the process used to apply for the Pell Grant. The FAFSA form is available at many colleges and high schools. You can also call (800) 433-3243 to have one sent to you in the mail.
  Your completed application's progress can be monitored through this phone number or online at the FAFSA website.
  
  

How is it applied

• Once you are approved to receive a Pell Grant, the grant will be paid to your school. The monies will be placed in your school tuition account, and it will either be applied directly to your tuition or issued to you as a refund. This disbursement will be based on the school's tuition disbursement policies.