A typical financial aid package for a student eligible for the maximum Pell Grant and a need-based MIT scholarship would be $43,550. It would include $42,100 in scholarship -- consisting of an MIT scholarship of $34,000, a Federal Pell Grant of $4,050, and an MIT Pell Grant Match of $4,050 -- and a term-time job of $1,450. The student would work about five hours a week to earn $1,450.

Yes. Most students can apply for low interest loans. If you submit the FAFSA in a timely manner (early in the application cycle), the school may consider you for institutional aid and University grants. Grant funds are not endless -- they are limited to monies in these fund accounts. Grants are awarded until fund accounts are drained.

The average family income of Pell Grant recipients at MIT for 2005-2006 was $23,500. Examples of the range of financial circumstances for students receiving Pell Grants in 2005-06 at MIT follow: MIT students receiving the maximum Pell Grant of $4,050 have total annual income of less than $7,000 -- often from nontaxable sources such as Social Security benefits.

the foundation of federal student financial aid, Pell Grants are the largest federal grant program for undergraduate education. Originally named the Basic Educational Opportunity Grant, the program was created in 1972 by Senator Claiborne Pell, then-chairman of the Senate Education Committee. Pell Grants are targeted to the neediest families and are awarded using a tiered approach.

Although you do not have to be full-time to receive the Pell Grant, you will be awarded based on full-time enrollment.

You may be able to receive the Pell Grant in the summer if you do not attend school full-time for the fall and spring.

Approximately 92 percent of undergraduates receive need-based aid, merit-based aid, or both in the form of grants, loans and work. MIT offers no merit-based aid; its students receive merit-based aid from other sources.

To be eligible to receive need based financial aid, certain requirements must be met. In general, all U.S. Citizens and eligible non-citizens who are enrolled in an approved degree or certificate program are eligible to receive financial assistance. Refer to the Eligibility Requirements section, the CCA Financial Aid Handbook, or the student eligibility criteria listed on the front of the FAFSA.

You will receive a Financial Aid Award Letter from the CCA Financial Aid Office which will detail all aid for which you are eligible for the entire school year. You may not receive aid in excess of your cost of education. The award letter will detail the financial aid ‘offer’ or ‘award’, which is made after your eligibility for funds has been determined. The award, which may include several kinds of financial aid, is called a ‘package’.

Your school can apply Pell Grant funds to your school costs, pay you directly (usually by check), or combine these methods. The school must tell you in writing how much your award will be and how and when you'll be paid. Schools must disburse funds at least once per term (semester, trimester, or quarter). Schools that do not use semesters, trimesters, or quarters must disburse funds at least twice per academic year.

Notices of Michigan Tech scholarship awards are mailed January through March of the senior year in high school. Michigan Tech financial aid award notifications begin to be emailed to new students during the first part of March. Returning students receive their Financial Aid award notifications in summer.

It depends on each family's individual situation. Factors besides annual income are the number of dependents and the number of college students in the family. Temporary setbacks, which can be explained on Form C, may also make a difference. In order to make it possible for as many needy families as possible to send their high-achieving children to Summer College, we rely on all families to be scrupulously honest in reporting their income and expenses.

More than 72 percent of undergraduates receive need-based financial aid, including scholarships, student loans and term-time jobs. Approximately 57 percent receive a need-based scholarship from MIT.

Federal Pell Grants are offered to students based on Financial need determined by the Expected Family Contribution. By completing the FAFSA you have applied for all Federal & State Programs.