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Can You Get a Bachelor's Degree With a Pell Grant?

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    Restrictions

    • The federal Pell Grant is only available to undergraduate college students with a high school diploma who are enrolled in an accredited college or university. The grant is specifically designed to help financially needy students achieve a four-year learning degree. Once students graduate college with a bachelor's degree, they become ineligible for further financial aid through the federal Pell Grant program.

    Time Frame

    • Federal guidelines limit the amount of time you have to complete a four-year degree. If you received your first federal Pell Grant on or after July 1, 2008, you may only use the Pell Grant nine times. Because the grant is disbursed by semester, you may attend school with federal aid for up to 18 semesters. However, if you wish to accelerate your degree program, you may request up to two full Pell Grants per year, allowing you to attend school for up to four semesters in one year. Students who received their first Pell Grant prior to July 1, 2008, have no time frame to complete their degrees and may qualify for an unlimited number of Pell Grants before receiving a bachelor's degree.

    Affordability

    • While the U.S. Department of Education provides ample time for students to achieve a four-year degree, the award amounts may not be enough to fully cover college tuition bills. While many two-year schools and community colleges have affordable tuition prices that average approximately $2,713 annually, the average cost for tuition at a four-year university is more than $7,600 per year for an in-state student. These prices are current as of 2010, but trends suggest that tuition will continue to rise, outpacing the rate of inflation as it has done for many years. The Pell Grant will not pay for 100 percent of the costs of attending a four-year university, especially when housing and books are considered. However, students who receive the maximum amount of aid available can cover a substantial amount of their costs. Though the maximum Pell Grant award changes variably, for the 2010-11 and 2011-12 school years, the most financially needy students will receive $5,550 for attending school full time.

    Other Aid

    • Students who need additional funding to complete a bachelor's degree may not have to rely on student loans to afford college. Instead, the Hope Credit and the Lifetime Learning Credit help taxpayers afford out-of-pocket tuition expenses by offering a tax credit for up to $2,000. Eligibility varies according to education level, how many times a student claims the Hope Credit and amount of money spent out-of-pocket for tuition costs.

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