If you will be attending a college that participates in the Pell program you are eligible to apply, provided you are a U.S. citizen. Some exceptions are made for permanent U.S. residents. In addition, your household income should be below $50,000. Funding is based on your household income. The lower the income, the higher the grant award will be.
Apply on line at the FAFSA website to start your application. You will need your Social Security number, tax return and driver's license. The form is available as of July 1 for the next academic year. For example, the FAFSA for the 2009-2010 academic year can be filled out as of July 1, 2009, and you can apply as late as June 30, 2010 for funds, though they may have run out by then.
Grant awards are based on need, a result of your total household income. The lower your income, the higher the award. Maximum awards for the 2010-2011 academic year are $5,550.
Once you receive word that you have won an award, the disbursement process will begin. The funds are generally sent you your school, and you can pick up the award from the bursar or the financial aid department. First, however, the funds will be used to pay any outstanding tuition you have at the school.