The Federal Pell Grant program is a need based grant program for undergraduate students who have not yet completed a baccalaureate or first professional degree. Eligibility for a Federal Pell Grant is determined according to Federal Methodology, which computes an expected family contribution (EFC). Monmouth University's Financial Aid Office will calculate the actual amount of the student's award based upon the student's EFC, cost of attendance, and enrollment status. Receipt of a Federal Pell Grant does not depend upon the availability of funds; all students who meet federal eligibility requirements will be awarded the grant. Less-than-half-time students may also be eligible for Federal Pell Grants.
The amount of the Federal Pell Grant depends in part on the amount that Congress appropriates for the program. The maximum award for 2012-13 is $5,550.
Students who file the Free Application for Federal Student Aid (FAFSA) will be automatically considered for Federal Pell Grants. Pell grant renewal is dependent on the student filing the FAFSA each year. Students must continue to meet the eligibility requirements and satisfactory academic progress.