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Finding out if you are eligible to receive the federal Pell grant is easy. The requirements are simple and readily available for anyone looking to find information about this grant award. While some forms of school funding can be complicated and hard to understand, the Pell Grant eligibility requirements are relatively simple and straight-forward, and can be grasped by virtually any student that may be interested in this award.

The Pell is specifically available for students who wish to further their education but may come from a low-income family. The main requirement to apply for this loan is that students must show an economic need for additional funding to pay for college. Since the student's family's income is the determining factor for this grant, that information must be readily available when applying. If the student is returning to school as an independent, their assets will be looked at instead of the families. Anyone coming from a family with an income of $60,000 or less is eligible to apply. However, most funds will be made available to students coming from families with an income less than $30,000. Students must also possess a GED or high school diploma when applying for this loan, or must be able to prove that their schooling or training will provide them with more opportunities.

Those who have already received a bachelor's degree are not eligible for the federal Pell grant. Students are also prohibited from receiving Pell Grants at more than one school at the same time. Once a student has received their allotted amount, they must be able to show that they are in good academic standing to continue getting more funding for their schooling. Good progress must be made towards one's respected degree. Students must also have a good standing on all other federal student loans. Defaulting on a federal student loan squashes ones eligibility for the Pell grant. It is also a requirement that the receiving student agrees to use the funds appropriately, as the proceeds of the federal Pell Grant can only be allocated towards education-related expenses.