Federal Pell Grants (PELL)
A Federal Pell Grant does not have to be repaid. Pell Grants are awarded only to undergraduate students who have not yet earned a bachelor’s degree. For many students, Pell Grants provide a foundation of financial aid to which other aid may be added.
To determine eligibility, the US Department of Education uses a standard formula, established by Congress, to evaluate the reported information. The formula produces an Expected Family Contribution (EFC) number. Your Student Aid Report (or, SAR) contains this number and will tell you if you’re eligible.
Awards for each year will depend on program funding. Students can receive only one Pell Grant per award year. The amount of the Pell award depends directly on your Expected Family Contribution (EFC), cost of attendance, whether a full-time student status and whether you attend school for a full academic year or less.