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Nitro Knowledge. Your Guide to Paying for College.


As you start to secure funding for your higher education, you've likely come across the Free Application for Federal Student Aid (FAFSA). This should be your first step in acquiring college funding. It allows you to apply for — and determines — if you qualify for any federal student aid.

The U.S. Department of Education will award financial aid via the FAFSA based on a student's or family's financial need for the upcoming academic year. The Pell Grant is one of the types of student aid you will potentially qualify for. But, what exactly is the Pell Grant and how do you apply?

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4You're probably expecting a dollar amount to answer the question in the headline ... but the Pell Grant Lifetime Eligibility is better explained with a different number unit: time. 

The fast answer is that you're entitled to receive financial aid in the form of Pell Grants for the equivalent of six years (or 12 semesters). During that time, you're eligible to receive the maximum amount of Pell Grant aid that you qualify for every year.

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If you’re looking for money for college, the federal Pell Grant is probably already on your radar screen.

The Pell Grant is one of the major sources of funding for many college students. However, it’s important to make sure you apply before the deadline so you don’t miss out on your share of free money for college.

Let’s talk about what you need to know to apply for a Pell Grant for the 2022-2023 school year.

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Grants, scholarships, and student loans are all types of financial assistance meant to help students meet the cost of higher education.

While grants and scholarships are types of gift aid, meaning they don't have to be paid back, borrowers typically have to pay back student loans in full, plus interest. 

Here's everything you need to know: 

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If you are looking for help paying for an undergraduate (and in some cases, a graduate) education, you may be eligible for the federal government’s Pell Grant Program. The Pell Grant provides need-based funding for use at approximately 5,400 participating colleges and universities. Grant amounts depend upon your Expected Family Contribution (EFC), the cost of tuition, your enrollment status and whether you attend school for a full academic year or less. Best of all, the federal Pell Grant does not have to be repaid.

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Federal Pell Grants are one of the most sought after forms of financial aid awarded by the federal government. They can be worth thousands in free money for college and there isn’t a set number of people that can receive them. As long as you meet the financial need requirements, this money is as good as yours.

Here’s what you need to know about this coveted form of financial aid:

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