You must submit a FAFSA. For student employment, student loans, and grants you should complete the FAFSA as soon as possible. Priority Deadline Processing Date is March 31st.

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.

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.

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.

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.

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.

Yes, when you complete your Free Application for Federal Student Aid (FAFSA) you are applying for funding from the Federal Pell Grant program and submitting information to determine your eligibility for other federal and state grant, loan, and scholarship programs. Generally, a grant is money you do not have to repay.

All students should apply for need-based financial aid. Many families mistakenly think they may not qualify for this type of aid based on their income and assets. However, if you choose not to apply for need-based financial aid, you may be closing the door on opportunities that could help you pay for college. There are other sources of financial assistance available regardless of your need, but most require you first to file the FAFSA.

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.

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.

Yes...Federal regulations state that a student must apply for a Pell grant before applying for a Stafford loan. All processing of your Pell grant application must be completed before your loan application can be processed. The result of your Pell application is used when determining loan eligibility.

least partially determined by need. So if you already have substantial scholarship money, the amount of federal, state, or private grant money will probably be reduced.