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The Dream Of A College Education Becomes A Reality With Financial Aid

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College isn't easy in many ways. The work involved, the money. Oh dear, the money! Imagine getting money for college that you don't have to repay. Financial aid is out there and available. Pell Grants are federal funds that, unlike a loan, you don't have to repay. Whether you are going to school on-line or on campus, you can get financial help and there is more money this year than ever!

As with anything, there is always a first step to get the ball rolling and financial aid for college is no different. The first step here is filling out a "free application for federal student aid or an FAFSA. The forms are available on-line and in hard copy. Check out the US Department of Education website to download your FAFSA. The application makes students eligible for not only Pell Grants, but all federal, state, and some institutional financial aid programs. The FAFSA takes a little time, but the money can be used at one of more than five thousand educational institutions. If you don't own a computer, remember you can always use your local library.

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Pell Grants - The Grant Everyone Knows

The US Department of Education distributes grants based on financial need. Students must be pursuing an undergraduate degree or a professional degree. The money is awarded based on family income and expenses. Only 10% of student who get a federal Pell Grant came from families earning more than $41,000 a year.

Pell Grants are considered a foundation for federal financial aid. That means other scholarships and grants can be added to the amount. There are hundreds of other grants and scholarships. Some are offered for specific degrees, like nursing or careers in public service. Some states also offer their own grant programs. However, you cannot receive Federal grants from more than one school at a time.

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Your Individual Situation Matters

To get a Pell Grant for an online degree program, you will generally need to study a field that is in short supply, such as science or education. Fill out a Pell Grant application as this is almost always a possibility, however, know that there are other grants available specifically for online students. For students with grave financial need there is the Federal Supplemental Educational Opportunity Grant. The Academic Competitiveness Grant benefits students who graduated from an academically rigorous high school program.

The amount of money a student gets is the same every school year. It's determined not only by financial need, but also tuition costs and enrollment. There are even special benefits for students whose parent or guardian died in military service after the 9/11 attacks.

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Last year, the maximum amount given was just over five thousand dollars. The federal government has increased awards for the 2010 to 2011 school year. Qualifying students receive checks at least once each semester or trimester. The school can pay you directly, apply the funds directly to your tuition or a combination of both.

Your school or the Department of Education website will have even more information on Pell Grants and the FAFSA. Student loans can be had, however, grants are the best kind of financial aid because you don't have to repay the money. So, if you need money for college or an online degree, spending a little time filling out an application can pay off.

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tankadin Jun 21, 2010 @ 4:15 pm | delete

I'm putting myself through college and financial aid was a lifesaver! Helpful article :)

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SJKRAGE Apr 20, 2010 @ 9:22 pm | delete

I found this information very helpful in understanding the different kind of financial aid that is available. I am delighted to see that there are some grants that do not need to be repaid. I am planning to apply for help for college and this information will be of great help.