Pell Grant Signature and Documentation Requirements
Pell Grant Signature Requirements
Students that receive a Pell Grant are not required to sign any additional paperwork. The only document that must be completed is the FAFSA (Free Application for Federal Student Aid), which is certifying that the financial information provided in the FAFSA is accurate and correct.
Pell Grant Documentation Requirements
Schools must have appropriate documentation of the studentís Pell Grant eligibility. The schoolís financial aid office must provide the student with a financial aid eligibility report, more commonly known as a SAR (Student Aid Report). Within this report, the student is able to determine how much they may receive in financial aid for the upcoming school year. Students who apply through the mail or FAFSA on the Web receive a two-part SAR, called a SAR Information Acknowledgment.
Maximum Pell Grant Amount
Once the FAFSA Application has been submitted and the applicant received the SAR, there will be an EFC score found within their SAR. The EFC score determine the applicants Pell Grant amount. The lower their EFC score, the greater the chances are that they will receive some Pell Grant amount. An EFC score of zero will receive the maximum Pell Grant award. Each year the Pell Grant formula to calculate how much a student will receive in Pell Grant funds are updated every school year. The formula is based on the budgeted Pell Grant funding available and other federal government factors.
Minimum Pell Grant Amount
The minimum Pell Grant award amount is 10 percent of the maximum Pell Grant award amount. For example, if the maximum Pell Grant award amount is $5,550 then the minimum Pell Grant award amount is $550. This amount can change each year, but the percentage used to calculate the minimum amount does not change. Students who are eligible for at least 5 percent of the maximum will no longer be "bumped up" to the minimum award, as was the case in the past. a student whose eligibility is 1 to 9 percent of the maximum award amount will not receive a Pell Grant.