Almost any student today will tell you how important it is to have some kind of funding or loan that helps them cover university/college costs. This can be a public fund or a private financial aid – all students require them from time to time.

The yearly rising cost of tuition in colleges has made financial aid a kind of necessity. There already exist many federal student loans aimed to make the entire process of paying for college, a breeze.

Here’s where the Pell Grant comes into the picture. Here’s what it is and the history of this monumental grant that enables students across the country to get affordable education that doesn’t leave them financially burdened.

What is the Pell Grant?
In the simplest manner possible, the Pell Grant is a kind of education grant that is provided to the student/recipient for the duration that they are enrolled into a course. What sets it apart is the fact that this grant does not need to be legally repaid in any form. Naturally, this grant is offered by the government.

History of the Pell Grant
In 1965, the Higher Education Act was passed, that revolutionized the entire process of getting a higher college education. These were the early days of what we call the Pell Grant. This Act served to provide education to low income families whose children wouldn’t be able to afford the hefty college tuition. It saw more reformation in 1972 and finally in 1978, when it was renamed the Federal Pell Grant Program – in dedication to senator Claiborne Pell. Today, this grant ensures that higher education is available to all.

Eligibility for Pell Grant application
Essentially, the Pell Grant is offered to students whose families show significant financial need or dependence. Typically, students whose family income falls below $25,000 per annum make up a huge chunk of those who the grant is offered to. This was calculated at a time when the annual college fees fell anywhere between $28,000 to $32,000.

Per year, thousands of students benefit from this grant and the entire process has been made simpler. The student is required to fill out the Free Application for Federal Student Aid (FAFSA) form to make a Pell Grant application. This makes him/her eligible for all grants they are qualified for – offered either by the government or the college where they have been accepted.

If you’re considering a Pell Grant application, then make sure you fill out the FAFSA form and submit it before the deadline. Check to determine the exact date of the deadline for submission in your state.