A Federal Pell Grant, unlike a loan, does not have to be repaid. Pell Grants are considered a foundation of federal financial aid, to which aid from other federal and nonfederal sources might be added. Illinois State will apply Pell Grant funds to your school costs, and refund any excess funds by check.
The maximum Pell Grant can change each award year and depends on program funding. Currently, grants range from $400 to $4,050. The amount you get, though, depends on your financial need, your costs to attend school, your status as a full-time or part-time student, and your plans to attend school for a full academic year or less. You can receive only one Pell Grant in an award year, and you can't receive Pell Grant funds from more than one school at a time. Since schools must disburse funds at least once per semester, full-time students will receive half of their Pell Grant in fall and the other half in spring. Students who attend during the summer session at Illinois State will only have Pell Grant funds available if they did not receive their full award for fall/spring.
To be eligible for a Federal Pell Grant you must meet the following:
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