Low income college students may qualify for financial aid assistance through the federal Pell Grant program. During the summer months, many college students are looking for ways in which they can afford the costs of attending a college or university, seeing as how tuition and fees are on the rise across the nation.
Federal Pell grants offer many students the opportunity to have the costs of attending a college or university paid for, if the students fall into a low income category. Usually, a student can fill out a FAFSA form, which will either ask about their parent’s income or the student’s income, depending upon their age, and if a student qualifies they may find that a Pell Grant can help with or pay for the entire costs of one’s education.
While there are various types of grants and other financial aid forms available, but Federal Pell Grants are a good starting point for anyone who may be unable to afford the cost of a university or college out-of-pocket or whose parents simply do not make enough money to contribute to the costs of one’s education. Federal Pell Grants are also optimal due to the fact that they are not debt, unlike student loans, and these grants do not have to be repaid after graduation.
It’s always in a student’s best interest to seek out types of free financial aid assistance before turning to student loans. While student loans can be affordable and help meet the cost of college, it’s always in a student’s best interest to avoid any type of debt after they graduate a college or university.
Current changes in student loan laws are set to save the federal government money when it comes to lending, and many believe that this money can be redirected to offer more assistance through federal aid programs like the Pell Grant program, which could offer college tuition assistance to more low income students in the coming years. Students who are interested in Pell Grants can find more information at the Department of Education’s website or from the financial aid office at their college or university.