Federal Pell Grants
A Federal Pell Grant, unlike a loan, does not have to be repaid. Federal Pell Grants are usually only awarded to undergraduate students who have not earned a bachelor's or a professional degree.
How much money can I get?
Amounts can change yearly. If you are eligible, the maximum Federal Pell Grant award is $6,895 for the full academic year award. The amount you get, though, will depend on:
- Your financial need
- Your cost of attendance
- Your status as a full- or part-time student
- You may not receive Federal Pell Grant funds from more than one school at a time
Federal Pell Grant Award Limits
Effective on July 1, 2012, you can receive the Federal Pell Grant for no more than 12 semesters, or the equivalent of 600% (roughly 6 years).
You’ll receive a notice if you’re getting close to your limit. If you have any questions, please contact Gateway Community College’s Financial Aid Office.
If you’re eligible for a Federal Pell Grant, you’ll receive the full amount you qualify for—each school participating in the program receives enough funds each year from the U.S. Department of Education to pay the Federal Pell Grant amounts for all its eligible students. The amount of any other student aid for which you might qualify does not affect the amount of your Federal Pell Grant.
Federal Supplemental Educational Opportunity Grant (FSEOG)
Students who receive Federal Pell Grants and display the greatest financial need will receive the FSEOG first. The FSEOG does not need to be repaid. The FSEOG is awarded on a first come first-serve basis.
How much money can I get?
You can receive between $50 and $4,000 a year, depending on your financial need when you apply, the amount of other aid you get, and the availability of funds at the college.
The college receives a certain amount of FSEOG funds each year from the U.S. Department of Education’s office of Federal Student Aid. Once the full amount of FSEOG funds has been awarded to students, no more FSEOG awards can be made for that year.
For further questions or helpful information, please visit: http://studentaid.ed.gov/types .
