The Pell Grant: What is it and how can I get it?

There are a number of college grants and scholarships out there that you can apply for, and doing so can help you reduce your cost of tuition as you earn a degree. One of the most popular types of grants is the Pell Grant, which is provided through the federal government. But what exactly is the Pell Grant program?

The U.S. Department of Education says that the purpose of the Pell Grant is to provide financial assistance to low-income individuals who aspire to attend a postsecondary institution. Approximately 4,500 colleges and universities accept this grant as a form of financial aid.

The amount of money awarded to those who qualify for the Pell Grant varies depending on the school's tuition cost, as well as the status of the student, whether it be part-time or full-time. The Pell Grant can help relieve financial stress and the best part about it is that it doesn't have to be paid back.

In order to qualify and potentially earn the Pell Grant, individuals must fill out the Free Application for Federal Student Aid. Doing so can also help you explore other resources to pay for college and earn a degree.

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