It goes without saying that college education is getting costlier by the day. Just about every college costs at least $20,000 to get admitted to; some of the better ones cost near $50,000. In the current economic times, a lot of families are going to find it hard to justify that sort of tuition fees however, the other fact is that you just can’t ignore education.
How do you solve this then? It’s sort of a catch 22 situation however, there are scholarships to help you out. There are private scholarships and there are federal pell grants. Usually, the maximum amount you will get as a grant will be less than $6000. That does not cover the fees but it certainly helps. Both of them have their advantages and disadvantages but the biggest upside of pell grants is that you do not have to pay them back.
If you wish to apply for pell grant, you would be pleased to know that the process is easy and can completed in a few steps. Those who can surf the Internet can complete the FAFSA form online and thus make an application on the Internet itself. That makes it very convenient.
What about the mandatory requirements? Of course, you have to be a US citizen but most other requirements are easy to satisfy. EFC is perhaps the most important factor that the government has to think of when deciding the amount for the grant. EFC stands for Expected Family Contribution and it is easy to understand what it means.
If your family is going to contribute a large sum, the sum you are going to get as federal pell grants is going to be less. In any case, your family’s income has to be below $20,000 to be able to apply for a pell grant. Other than this, your academic record, the type of school you are attending (full-time vs part-time) will also matter.
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