What’s New: 2010 Pell Grant

2010_pell_grantThe 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:

4 comments to “What’s New: 2010 Pell Grant”

  1. […] 4. The maximum Pell Grant amount has been increased by $500.  College students can now receive up to $5500 for their education costs. Here’s the rundown from educationgrant.com. […]

  2. Are there any changes in the status of federal prisoners receiving Pell Grants under the new 2010 law just signed by President Obama?

  3. I need too know how too get started to get the federal pell grant for at deNZA COLLEGE I WILL BE STARTING IN THE FALL AND NEED HELP GETTING THE FINANCIAL AID TOO BE TAKINF FALL CLASSES

  4. Hi, Thanks for reading!
    Make sure you check the financial aid deadlines in your state: http://www.fafsa.ed.gov/before003a.htm.
    Fill out the FAFSA, which is your Pell Grant application. This can be done online here: http://www.fafsa.ed.gov/index.htm.
    Check with the financial aid office, or the guidance department of your school if you have any other questions.
    Please reference our Grants page for more information: http://www.educationgrant.com/grants/.
    Best of luck,
    EducationGrant Editor

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