"For the majority of Americans who don’t think they qualify for Federal Pell Grants, the federal grant known for helping low-income students, it’s easy for them to think that financial aid beyond student loans won’t happen for them," Forbes reports.
"Thus, they may skip filling out the Free Application for Federal Student Aid (FAFSA) out of fear it’s just a fast track to student loans. But that’s just not the case. Not only will filling out the FAFSA provide information to schools to help students get other need-based scholarships and grants, but middle class families may qualify for Pell Grants without realizing it. Thus, it’s important middle class families learn about these special grants beginning with a few important facts.
The three most important things to know about Federal Pell Grants are that they generally don’t have to be repaid, what the maximum reward is, and what constitutes financial need. ...
Bottom line: Receiving a Federal Pell Grant is based on a complicated formula involving many factors. Your student may qualify, and you use the same application as you would to apply for other forms of financial aid. So fill the FAFSA and you may be surprised how much overall funding your student is offered."
NASFAA's "Financial Aid in the News" section highlights media coverage of financial aid to help members stay up to date with the latest news. Inclusion in Today's News does not imply endorsement of the material or guarantee the accuracy of information presented.
Publication Date: 2/3/2015