Have you heard about the Pell Grant? Well, the Pell Grant is a federally funded program that offers financial assistance to college students who comes from families of low income. Since its founding 40 years ago, it has helped millions of students to fulfill their dreams of acquiring a higher education. So, how did Pell Grant get its name? It was named after Claiborne de Borda Pell. When the then named Basic Education Opportunity Grant was introduced, Pell was a democratic U.S Senator from Rhode Island. He believed in helping the students to realize their dreams of higher education and he wanted these dreams to be achieved via federal funding for their college education and thus, he aspired to make this dream a reality. The grant is widely known as the foundation of students’ financial aid package. The Pell Grant is funded by the United States Department of Education and they are also the ones to determine the students’ financial needs and capabilities. This is done through the aid of a standardized formula to assess the student’s financial information on the Free Application for Federal Student Aid (FAFSA) to decide the expected income of the students’ family. If you are a student, and are currently looking to apply for the Pell Grant, then you should understand the eligibility by first completing the Pell Grant application. There is a standard procedure used to evaluate information that each potential recipient supply when applying for the Pell Grant – needless to say, these evaluations are done by the United States Department of Education. Such a procedure or formula was created by the Congress from the criteria submitted through the FAFSA application form. The formula is able to produce a figure that will determine your eligibility otherwise known as the EFC or the Expected Family Contribution. In order to apply for the Pell Grant, you have to be an undergraduate student who has not earned a bachelor’s degree, and has a high school diploma or a GED. You must also be a United States citizen or an eligible non-citizen. If you do not have a high school diploma or a GED, then you must at least be able to demonstrate how you could benefit from the program. However, if you are convicted of a drug-related crime, then you may not be eligible for the grant. But this also depends heavily on your own personal circumstances, and may be reconsidered if you undertake appropriate remediation steps.