Probably the most well know of all government education grant programs, and the lucrative one, is the Federal Pell Grant. This program is a post-secondary, educational federal grant program sponsored by the U.S. Department of Education and is usually awarded to undergraduate students that haven’t earned a bachelor’s or graduate degree.

The amount of this grant is $4,731 for the 2008-2009 school year and will increase every year. This money can be used for a variety of needs such as tuition, textbook and other materials that are needed for continuing education.

What I like about these government education grant programs is that they do not have to be repaid like a traditional loan. The only exception to this rule is if the student drops out of school prior to finishing the school term.

These types of financial aid programs have become a real life saver for those wanting to go back to school but lacked the funding. It is just recently that people are becoming aware of such programs, and in return, these people are getting better jobs and making much more money.