Millions of Americans can now apply for up to $6,895 in aid — check if you’re eligible and provide exact deadlines

ELIGIBLE students can apply for nearly $7,000 in Pell Grant aid for the following school year.

Pell Grants are a form of student assistance aimed at low-income students in colleges and other secondary schools such as business schools.

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Unlike most student grants, which are given in the form of loans, Pell grants almost never have to be repaid.

To qualify for a Pell Scholarship, you must complete a Free Federal Student Aid (FAFSA) Application.

The federal deadline to submit a FAFSA for the current academic year ended in June, but students have until June 30, 2023 to apply for the 2023-2024 academic year.

Who qualifies?

The Pell Grant program only makes funds available to people from low-income backgrounds who cannot contribute much to their education.

The information provided in your FAFSA application determines what your expected family contribution is, which in turn determines whether you qualify for a Pell grant.

Applicants do not have to have a college degree, and most recipients are college students.

Pell Grants and Student Loan Relief

President Biden’s proposal to forgive thousands of dollars in student debt prioritized Pell Grant recipients.

Under the plan, most federal borrowers would be forgiven up to $10,000 on student loans, but Pell Grant beneficiaries would be forgiven up to $20,000.

However, the plan is currently on hold after a Texas judge struck down it as unconstitutional.

The Biden administration is currently appealing the decision.

In response to the backlash, President Biden extended the payment pause on federal student loans through June 30, 2023.

Until then, no interest accrues on loans and borrowers do not have to repay any principal.

Which loans can be paused?

The pause on student loan payments and interest applies to all federally held student loans, according to the Ministry of Education.

Eligible student loans include:

• Direct federal student loans
• Federal Family Education Loan Program loans held by the Department of Education
• Federal Perkins Loans held by the Department of Education
• Defaulted FFEL loans not held by the Department of Education
• Defaulted loans to support health education

However, not all student loans are eligible.

This contains:

• Non-defaulted FFEL loans not held by the Department of Education
• Federal Perkins Loans not held by the Department of Education
• Non-Defaulted HEAL Loans
• Private Student Loans

The best way to find out if your loan payments are on hold is to: Contact your credit service provider.

Stay up to date on the Social Security cost-of-living hike next month.

And see if you’re still owed any money from this $3 billion program.