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.

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.

The amount you will receive in Federal Pell Grant depends on how much you used during the academic year and your summer enrollment.  If your initial summer enrollment is before the Summer I census date, May 11, 2007,  your Federal Pell Grant will be calculated based on the number of hours in which you are enrolled on May 11, 2007.  If you add classes after May 11 you will not receive an increase in your Federal Pell Grant.

The Pell Grant is need-based grants ranging from $400 to $4050 per year. The Pell Grant is available to degree seeking undergraduate students with an EFC of 3850 or less (as determined on the FAFSA).

Eligibility for the Federal Pell Grant is based on the student's expected family contribution as calculated by the FAFSA application. This grant is designed to assist the exceptional needy student.

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.

Students in default on a federal student loan are not eligible for any federal or state financial aid. Students must make six consecutive payments on a defaulted loan and make satisfactory payment arrangements with the Department of Education to regain eligibility for aid. Students must present the Financial Aid office with official notification from the Department of Education that they are no longer in default and may receive Title IV aid.

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 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.

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.

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.

A math SAT score of 530 (ACT of 22) is required for students who wish to use college math credit to satisfy a high school math (CPC) requirement. Yes. One three-semester hour college course is equivalent to slightly more than half of a Carnegie unit. (Five college semester hours are equal to one Carnegie Unit.) However, the college course can be used to satisfy one additional academic unit (above the minimum 16 College Preparatory Curriculum units). Yes.

The Student must be an undergraduate who has not received a Bachelor’s degree, and is enrolled in a degree or certificate program. The student also must have for the 2005-2006 year an EFC of less than 3850 to receive ANY Pell Grant. The amount of Pell Grant ranges from a possible 4050 with a 0 EFC to a possible 400 with a 3850 EFC.

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.

Pell Grants are awarded to undergraduate students to help pay for their education after high school. Unlike loans a Pell Grant does not have to be repaid. To be eligible, a student must be an undergraduate who does not already have a bachelor's degree and is going to a college at least halftime.