New for 2020, the Federal Pell Grant has increased up to $6,345 that is given to individuals that are in need of financial aid and have not earned a bachelor’s degree, graduate, or any professional type of degree. The great thing about this grant is that it is money that you do NOT have to pay back like a loan. This is money from the Federal government that is helping you pay towards your education.
You can use this money to go back to school and finish your degree or further you job training depending on what you are trying to pursue in your life. Many times you are able to use this money towards an education accredited school online or even Face to Face depending on what fits best for your schedule.
How You Apply for the Grant
You must submit the FAFSA form which is an application for the Federal Student Aid that will qualify you that you are in need of some type of financial aid. You will have to fill out this form each year that you are in school.
How You Get the Money
If you qualify for the Federal Pell Grant, many schools can apply the funds to your school costs automatically or you will get paid directly. Sometimes a combination of both happens, it just depends on the school that you choose to attend.