Question:

What's a pell grant?

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My son has just been awarded a pell grant for college. Do I have to pay it back? Is the interest high if I do? What is the advantage? The letter says that a certain amount is grant and the rest is loan. What's the deal? Any information would be helpful. Thank you.

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  1. No no on on,

    the pell grant..is a grant...

    its money awarded based on financial need.

    you do not have to pay it back.


  2. A grant is free and you do not have to pay it back.

    A loan is not free, it has to be paid back.  Stafford loans HE has to pay back.  PLUS loans YOU have to pay back.

    Read this book cover to cover, it will help.


  3. the pell grant is federal money that can be used towards your education.  The maximum award for the 2008-09 award year (July 1, 2008 to June 30, 2009) is $4,731. The advantage is that you do not have to pay any of the grant funds back.  The deal is that you have to be attended an accredited college in order to receive this money.  It's another source of income to pay for college.  More information can be found at:

    http://www.PellGrantOnline.com
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