Low-Income Students Can Get More Money to Help Pay for College This Year

"Low-income college students can get an additional $500 from the federal government to help pay their education bills later this year," Money reports.

..."More than 6 million students received a Pell Grant in 2020, making it the largest grant program offered by the Education Department. Recipients can put Pell dollars toward tuition, fees, housing, food and other education expenses, like books or a computer. To access the grant, students (and their parents if they’re a dependent student) must fill out the FAFSA.

Most Pell Grants go to low-income students whose families earn less than $40,000 — about 78%, according to the National Association of Student Financial Aid Administrators (NASFAA). And many go to students of color — almost 60% of Black students and more than 40% of Hispanic/Latino students receive the grants. The Pell Grant also helps about half of first-generation college students and student parents, as well as 40% of student veterans."

NASFAA's "Notable Headlines" section highlights media coverage of financial aid to help members stay up to date with the latest news. Articles included under the notable headlines section are not written by NASFAA, but rather by external sources. Inclusion in Today's News does not imply endorsement of the material or guarantee the accuracy of information presented.


Publication Date: 1/6/2023

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