What is the difference between fafsa and pell grant

We recommend consulting a licensed financial professional before making any financial decisions. This site may be compensated through our partner relationships. Department of Education. Financial Aid. Other Resources. Other Calculators. Online Degrees. Online Colleges. Paying For Online Education. FAFSA vs. Carol Katarsky Updated on April 7, What is a Pell Grant?

How do I apply for the Pell Grant? Pell Grants can be used to pay for tuition, fees, books and school supplies, but they cannot be used for room and board. Students may continue to receive Pell Grants for up to 12 semesters as long as they maintain satisfactory academic progression. The Pell Grant is an actual form of student aid. You can use your FAFSA to access other forms of financial aid, including subsidized and unsubsidized student loans.

There is no other way to apply. The application is lengthy, but the questions are straightforward. You can complete the entire application online, and you only have to do this once a year.

The FAFSA will ask for information about where you live, where you attend school, how long you have left on your degree, etc. It will also request specific information about your household income based on your tax returns. If you have not filed your taxes for the year yet, you can enter approximate information into the FAFSA and update the app later on.

The greater your financial need, the more likely it is that you will be eligible for a Pell Grant. There are ways to determine your eligibility ahead of time. Income Limit The Department of Education considers your family's income and expenses to determine your Pell Grant eligibility. Expenses like the number of people in your household, the number of family members attending college, and your school's cost of attendance all impact your Pell Grant eligibility.

Because of this, there is no set income cutoff for Pell Grant eligibility. Age and Time There is no age limit for the Pell Grant. It is available to undergraduate students who have not received a bachelor's, graduate, or professional degree.

Once you have earned a baccalaureate degree or your first professional degree, you are no longer eligible.