A Federal Pell Grant, unlike a loan, does not have to be repaid. Pell Grants are awarded
only to undergraduate students who have not earned a bachelor's or professional degree.
For many students, Pell Grants provide a foundation of financial aid to which other
aid may be added.
To determine if you are eligible, the U.S. Department of Education uses a standard formula, established by Congress, to evaluate the information you report when you apply using the Free Application for Federal Student Aid (FAFSA) each year. The formula produces an Expected Family Contribution (EFC) number. Your Student Aid Report (SAR), available on line at www.fafsa.ed.gov, contains this number and will tell you if you are eligible.
Awards depend on Federal program funding. The maximum award based on full-time enrollment for the 2014-2015 academic year is $5,730 and the minimum is $595. Pell grant awards are determined by information on the FAFSA and the resulting "expected family contribution" (EFC) of $5,157 or less. A student may receive a Pell Grant for the equivalent of six years, or 600%.
Other eligibility criteria is as follows:
Fredonia credits the funds to the student's account, writes the student a refund check, or combines these methods. Fredonia is required to notify students in writing how much they will be receiving.
List of Financial Aid Programs