Pell Grants are mostly for undergraduate students who have not earned a bachelors or professional degree. Students who are in a post-baccalaureate program may still receive a Pell Grant.

The maximal amount a student can receive from a Pell Grant varies each year. For 2006-07 it is $4,050. The amount received by a Pell Grant depends on your financial needs, the cost of attending your school, whether you are a full time or part-time student, and whether you will attend a full year or less.

Usually your school will apply for a Pell Grant on your behalf. It is also recommended you contact your school’s financial aid office to make sure they are willing to apply on your behalf. If you receive a Pell Grant your school may apply the grant to pay your school costs, give it to you directly, or combine both methods. Schools also have to disburse the full grant amount in a minimum of 2 payments (usually at each term).

How to apply:

Visit your school’s financial aid office or apply online at the FAFSA web site.

For complete Pell Grant Program details.