How to Go to College on a Pell Grant

College is an option even if you can't afford it.

As opposed to a high school education from a public school, most students who decide to go to college or university have to pay. In the end, a college degree usually pays off because you can get a higher paying and professional job, which will usually turn into a lucrative career. In fact, studies show that many college graduates will earn $1,000,000 more over the course of their lifetime than their high school counterparts. This makes a college degree worth the cost of tuition, but the upfront costs can be staggering.

Nevertheless, if you fall into a low-income tax bracket, you may qualify for a Pell Grant. A Pell Grant is a form of financial aid for students who plan to get a college degree but can't afford it. A college grant is money that pays for college tuition that you don't have to pay back. The Pell Grant can also pay other expenses that go along with a secondary education. It was created by the federal government under the Higher Education Act of 1965. If you fit the financial requirements, you are eligible be considered for a Pell Grant. So the first thing you need to do is get your financial records together and apply for a Pell Grant by filling out the online application.

You may qualify for up to $5,000 or even more, depending on your financial situation and what college you are attending. And the program has billions of dollars in grant money to give away, so scarcity of funding is not an issue. Pell Grants can also be applied to any course of study which you choose to pursue. 

The Department of Education is responsible for awarding the grants, which is solely based on financial need and the acceptance into a college or university. The Pell Grant is also versatile in the fact that it can be paid directly to the college or university for tuition; or it can be used for expenses like housing or books. The only important thing to remember about a Pell Grant, however, is that it must be spent wisely because once any student has reached their limit, the funds are not renewable.

See also: WriteYourselfRich.net