According to Schoolgrantsblog.com, Pell grants are “one of the most common and widely utilized type of federal school grants and are funded by the U.S. Department of Education.” While the amount of the Pell grant varies, the highest obtainable amount is $5,550 which means that it covers around 30% of tuition on average.
Eligibility for the Pell grant is based on what is known as the Expected Family Contribution (or how much a student or parent can possibly apply to education costs for the school year being applied for). This information is accessed from the FAFSA (the person filling out the form would only need to state that they want to be considered for the Pell grant).
What is the benefit of a Pell grant? The amount of grant money never runs out, and the more students apply then the more money that is given out. You can also be reimbursed for tuition money if you’ve already paid it, and the amount can be adjusted if there are any changes in financial status.