All About the Federal Pell Grant

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College students who need financial aid may qualify for various federal programs. For example, the government offers two different kinds of student loans. It also offers the federal Pell grant. If you’re eligible for this grant, you won’t be responsible for paying back any of the money you receive. Before helping your children apply for financial aid, you may want to learn more. You can work directly with a financial advisor who can help you save for college in the right way.

What Is the federal Pell grant?

The federal Pell grant provides financial assistance to low-income students. Since it’s a grant instead of a loan, it’s essentially free money that students can use to cover their college costs. If you qualify, you can use your Pell grant to pay for your undergraduate education and some post-secondary programs for aspiring teachers.