Pell Grants are free money, which does not need to be paid back. The most you can get for the 2010-2011 school year is $5,550. These grants are for undergraduates, although they are sometimes given to graduate students who are studying to become teachers. So, what are the Federal Pell Grant Eligibility Requirements?

The following is my summary of the Federal document “The EFC Formula, 2010-2011” on ed.gov. I have attempted to turn their legalese into plain English, but see resources link for exact wording and complete information.

Federal Pell Grant Eligibility Requirements

The amount that you can receive from a Pell Grant depends upon:

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