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The FAFSA Simplification Act makes it easier for students to receive Pell grants, linking eligibility to a student's family size and the poverty level set by federal guides.
Due to changes to the FAFSA calculation, more applicants are expected to qualify for a Pell grant going forward. In fact, the Department of Education estimates that 610,000 more students will ...
If a student is not eligible for a Pell Grant, colleges and universities will still use the data provided on the FAFSA to determine the student’s eligibility for other scholarships, Dawson said.
A Pell Grant is a subsidy the U.S. federal government provides for students who need it to pay for college. Federal Pell Grants are limited to students with exceptional financial need, who have not earned their first bachelor's degree, or who are enrolled in certain post-baccalaureate programs, through participating institutions.
Federal Student Aid offers several different types of financial aid programs. [18] Pell Grant – A grant of up to $6,195 (as of the 2019–2020 Award Year) for students with a low expected family contribution. [19] A 2018 NerdWallet study found that students missed out on $2.6 billion in free federal Pell grants by not completing the FAFSA. [20]
The federal financial aid form looks different in the 2024-25 school year. Here's what college students and parents need to know about the new FAFSA.
Grants are a type of financial aid that does not have to be repaid. Generally, grants are for undergraduate students and the grant amount is based on need, cost of attendance, and enrollment status. Federal Pell Grants are designed for low- and middle-income undergraduate students. Pell Grants for the 2023–2024 school year range from $750 to ...
It will also allow 1.5 million more students to receive the maximum Pell Grant award, which will bring the number of students who are eligible for the maximum award to over 5.2 million.
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