Explore Types of Financial Aid

Grants

Grants are a form of financial aid that does not need to be paid back. Grants can come from federal and state governments, as well as from Spelman College. To be considered for grants, a Free Application for Federal Student Aid (FAFSA®) form is required. Only undergraduates who have not previously received a bachelor's degree are eligible. Grants are awarded to those who demonstrate exceptional financial need and apply for aid by the priority date as funding is limited. Several types of grants are described below.

Federal Pell Grant

Pell Grants are awarded to eligible undergraduate students who do not have a bachelor's degree. The annual award amounts are set by the Department of Education and can change annually. The amount you get, though, will depend on your Student Aid Index (based on your FAFSA form).

Award amounts assume 12 eligible credit hours per semester and some Federal Pell Grant recipients are eligible for partial awards for less than half-time enrollment. In certain situations, an eligible student can receive up to 150 percent of her scheduled Pell Grant award for an award year (Summer, Fall, and Spring semesters).

The amount of Federal Pell Grant funds you may receive over your lifetime is limited by federal law to be the equivalent of six years of Pell Grant funding. Since the amount of a scheduled Pell Grant award, you can receive each award year is equal to 100%, the six-year equivalent is 600%.