The Pell Grant

A Pell Grant is a federally funded program that gives financial assistance to college students who are from low income families.  It has helped millions of students fulfill their dreams of attending college since it was created over 40 years ago, just like its founder had always envisioned.

The History of the Pell Grant

The Pell Grant is named after the late Claiborne de Borda Pell, a six term democratic U.S. Senator from Rhode Island.  Mr. Pell supported students having federal grants for college.  Thus, he worked hard to make this a reality until the Higher Education Act of 1965 introduced the Pell Grant, which at the time was called a Basic Educational Opportunity Grant.

Since its creation, more than 5,400 American colleges and universities have participated in its program.  Students can learn of their Pell Grant eligibility by first completing a Pell Grant application.

Pell Grants Today

With the rising cost of tuition, Pell Grants for college don’t cover as much college tuition as it once did.  For instance, Pell Grants rewarded in 1979 covered 75% of college tuition.  Fast forward nearly 30 years later, however, in 2006, it only covered 33% of tuition.  The good news, however, is that Pel grants are still available to low income students needing financial assistance for college.  As a matter of fact, the maximum amount a student can receive increased to $5,550 for the 2010-2011 academic school year. Thus, federal grants for college are still helpful.

So if you’re a low income student interested in attending a U.S. college or university, you should research the Pell grant requirements and Pell Grant Eligibility to learn if you’re eligible for a free federal Pell grant.