The 2010 Pell Grant is the most widely available grant program for undergraduate students. The 2010 Pell Grant maximum amount was raised to $5,500 for students enrolling for the 2010-2011 school year – that’s $150 more than last year’s maximum, meaning more good news for cash-strapped students!
Now, not all students will receive the full $5,500 amount; some will qualify for a percentage. The amount you receive is directly affected by your Expected Family Contribution (EFC), the cost of attending your school of choice, your enrollment status (full time, part time, etc.), and whether or not you are attending for a full academic year.
To apply for a Pell Grant, you must complete a FAFSA form. Completing your FAFSA will determine your eligibility not only for the 2010 Pell Grant but also for other loan and aid programs. One of the latest changes made to the process this year is the ability to get an initial estimate of your financial aid eligibility immediately after you’ve electronically signed and submitted your FAFSA. This Student Aid Report (SAR) indicates which federal grants you can expect to receive, as well as what student loans you are eligible for. In the past, you would’ve had to wait at least three weeks for this information.
If you do qualify for a Pell Grant, your SAR will say something along the lines of:
Based on your EFC of [amount], you appear to be eligible for the following:
- A federal Pell Grant of up to $5350
- Other federal grants, low-interest student loans and work study
For more information on Pell Grants including eligibility and applying, check out:
- Pell Grants
- How to Find Out What’s Going on with Your Pell Grant
- 5 Little Known Facts About Pell Grants
