Pell Grant Program
Sep 3rd, 2008 by admin
This article is about the Pell Grant program for the students who want to receive some financial aid in order to cover the biting prices of the higher education.
Pell Grant is a post-secondary program, educational, federal program, which is sponsored by the U.S. Department of Education. It is named in honor of the senator of U.S. Claiborne Pell. This program is initially known as the Basic Opportunity Grant Program.
These Grants are awarded to the students based on the “financial need” formula, which is determined by the Congress of the United States of America, which uses the criteria submitted through the FAFSA, which stands for Free Application for Federal Student Grant.
Higher Education Act of legislation of 1965 (Title IV, Part A, Subpart 1; 20 U.S.C. 1070a.) covers the Pell Grant.
Speaking about the amount of grant it should be mentioned that the maximum amount of the grant has been reduced, and for 2007-2008, it numbers $4,310.
In conclusion, it should be said that the popularity and the value of Pell Grant is rapidly decreasing, and this fact is quite understandable. The prices for the education are rapidly growing and the funds of the Pell Gants are rapidly reducing, as several decades ago, Pell Grant was able to cover 60% of the education, nowadays the amount of the Pell Grant is hardly enough to cover one third of it.