Federal Pell Grant: A Federal Pell Grant, unlike a loan, does not have to be repaid. Pell Grants are awarded usually only to undergraduate students who have not earned a bachelor's or a professional degree. (In some cases, however, a student enrolled in a post-baccalaureate teacher certification program might receive a Pell Grant.) Pell Grants are considered a foundation of federal financial aid, to which aid from other federal and nonfederal sources might be added.
How much can I get?
The maximum Pell Grant award for the 2012-2013 award year (July 1, 2012 to June 30, 2013) is $5,550. The amount you get, though, will depend not only on your financial need, but also on your costs to attend school, your status as a full-time or part-time student, and your plans to attend school for a full academic year or less. The maximum award amount is given for any Pell Grant eligible student whose parent or guardian died as a result of military service in Iraq or Afghanistan after Sept.11, 2001. You must be under 24 years old or enrolled at least part- time in college at the time of your parent's or guardian's death.
Note: Beginning with the 2012-2013 award year, Pell gant Lifetime Elligibility Used (LEU) is tracked on the National Student Loan Data System (NSLDS) website, www.nslds.gov. The Lifetime Pell Eligibility is limited to the equivalent of twelve (12) full semesters or 600%, with 100% being the equivalent of two (2) full time semesters.
If I am eligible, how will I get the Pell Grant money?
Your school can apply Pell Grant funds to your school costs, pay you directly (usually by check), or combine these methods. The school must tell you in writing how much your award will be and how and when you'll be paid. Schools must disburse funds at least once per term (semester, trimester, or quarter). Schools that do not use semesters, trimesters, or quarters must disburse funds at least twice per academic year.
Federal Supplemental Educational Opportunity Grant: The Federal Supplemental Educational Opportunity Grant (FSEOG) program is for undergraduates with exceptional financial need. Pell Grant recipients with the lowest expected family contributions (EFCs) will be considered first for an FSEOG. Just like Pell Grants, the FSEOG does not have to be repaid.
How much can I get?
You can receive between $100 and $4,000 a year, depending on when you apply, your financial need, the funding at the school you're attending, and the policies of the financial aid office at your school. FSEOG funds are limited. At Dodge City Community College, if you are eligible, you may expect an award of up to $400 per year dependent upon your FASFA being completed in a timely manner.
If I am eligible, how will I get the FSEOG money?
If you're eligible, your school will credit your account, pay you directly (usually by check), or combine these methods. Your school must pay you at least once per term (semester, trimester, or quarter). Schools that do not use semesters, trimesters, or quarters must disburse funds at least twice per academic year.