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Q: College Financial Aid ( Answered 3 out of 5 stars,   0 Comments )
Subject: College Financial Aid
Category: Reference, Education and News > Education
Asked by: croesius24-ga
List Price: $15.00
Posted: 22 Oct 2004 06:22 PDT
Expires: 21 Nov 2004 05:22 PST
Question ID: 418476
I would like to know what a parent can do to obtain a Pell Grant for
their children's college education.  What specifically are the
financial considerations for the parents, students, and the particular
college that is attended.  Then, what is the application process,
including when to start and the length of the process. Are online
resources available?
Subject: Re: College Financial Aid
Answered By: tar_heel_v-ga on 22 Oct 2004 06:53 PDT
Rated:3 out of 5 stars

When I was in school, there were several students I knew that could
not have been there but for the Pell Grant.  It is a great program and
I commend you for looking into it.

Unlike traditional loans, Pell Grants, which are Federally funded, do
not have to be repaid.  A formula, that has been worked out by
Congress, determines financial need:

Cost of attendence - Expected Family Contribution = Financial Need

You can determine your Expected Family Contribution by downloading The
EFC Formula Guidelines from
(NOTE: This is a 35 page PDF.  You must have Adobe Reader to view this
file). You can find your estimated EFC by visiting

Cost of Attendence (COA) is the cost of tuition, on-campus room and
board, and an allowance for books, supplies, etc.

The other requirements can be found at
 These requirements apply towards all federally funded scholarship
programs, not just the Pell Grant.

For the 2004-2005 year (7/1/04 - 6/30/05) the maximum Pell Grant is
$4,050.  The amount you get is based on the cost of attendence and the

The application process should begin in January of the student's
senior year in high school.  The application can be filled out online
at  This site also provides great
information regarding the Pell Grant and other federal programs

You can find additional information on the Pell Grant and other
financial aid programs from the following resources:

The Student Guide 2004-2005: Types of Federal Student Aid-Federal Pell Grants

Free Application for Federal Student Aid (FAFSA)

FinAid! The SmartStudent Guide to Financial Aid

Thank you for your question and good luck to the student!  If you need
any additional clarification, please let me know.



Search Strategy:
Pell Grant
croesius24-ga rated this answer:3 out of 5 stars
Business like response to a business like question. Very quick.  Thanks.

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