The Biden administration's student debt reduction effort will provide far greater assistance who used Pell grants.
Up to $20,000 of student loan debt will be erased for anyone who received a Pell grant as undergraduates.
For undergraduate students with extraordinary financial need, Pell grants are a sort of federal financial assistance.
In fiscal year 2020, over 6.3 million undergraduate students got Pell awards worth around $27 billion.
The highest federal Pell Grant payout is $6,895 for the 2022–2023 award year.
The amount that a recipient may get varies depending on a number of variables, including the cost of attendance for a full- or part-time student.
Start by filing an FAFSA form if you think you could be qualified for a Pell Grant.
Particularly this data will be used by institutions to evaluate your eligibility
The Pell Grant is not a loan and is usually not subject to repayment.
You can be qualified for more Federal Pell Grant money if your parent served in military and passed away in Afghanistan, Iraq, or 9/11.