President Barack Obama in a recent speech of his stated that education is the current need of the hour with growing competition from Beijing and Bangalore. So, in this pursuit of his he has introduced Obama scholarships which aim at providing grants to deserving students as well as moms who can’t afford the burden of education expenses due to low income.
The Obama scholarships are known as Pell grants and Federal Supplemental Educational Opportunity Grants (FSEOG) and to apply for federal Pell grant one is required to complete the FAFSA (Free Application for Federal Student Aid). formalities, which ensures that the grants will be utilized solely for educational purposes only. One is also required to certify that there is no default of any other Federal Grants. The best thing about the Pell grant is that it is about $5000, which is enough amount for tuition fees, books, and other needs, and the amount is never to be repaid.
Eligibility Criteria:-
- The family income of the applicant should be less than $20,000.
- The applicant must be a US citizen, or eligible non-citizen, or permanent resident.
- The applicant must have a valid Social Security number.
- The Grant is given to moms and students for a college degree or a professional course and hence a high school diploma or a GED is needed to make sure the funds will be utilized efficiently.
Once the eligibility criteria are fulfilled, the applicant may begin with the application process which is the FAFSA.
When to Apply:-
- As there are thousands of students and moms waiting to benefit from this golden opportunity, one need to apply as soon as possible, i.e. at least 8-10 weeks before the commencement of the semester as it takes around 8 weeks to get the grant sanctioned.
But, this doesn’t mean that everyone who applies for the Pell grant will get it as there are limited sources, which is a harsh reality.
Necessary Documentation:-
Once all the formalities are completed, then there is document submission process which includes submission of following:-
- Business records
- W-2 information
- Federal tax returns (Actual/ estimated)
- Bank statements
- Investment and mortgage information
- If applicable social security, veteran benefit’s.
There is no fixed limit to the number of Pell grants a student can receive, however just one grant will be awarded to a student per year. Hence the Pell grants can be awarded to a student every year as long as eligibility criteria are met.
