Pell Grant Amount
A Federal Pell Grant is a form of federal financial aid that does not have to be repaid. Pell Grants are awarded usually only to undergraduate students who have not earned a bachelor's or a professional degree. Students that are eligible for a Pell Grant can also receive other forms of federal student aid. The FAFSA, which is one of the requirements needed to become eligibile for a Pell Grant, is also the application necessary for federal student loans.
Students that meet all Pell Grant Requirements are eligible to receive the maximum Pell Grant award of $5,550 during the 2011-12 award year (July 1, 2011 to June 30, 2012). The total Pell Grant award amount will depend not only on your financial need, but also on your costs to attend school, your status as a full-time or part-time student, and your plans to attend school for a full academic year or less.
The maximum Pell Grant amount is given for any Pell Grant eligible student whose parent or guardian died as a result of military service in Iraq or Afghanistan after Sept.11, 2001. You must be under 24 years old or enrolled at least part-time in college at the time of your parent's or guardian's death.
Your EFC score will determine if you qualify for a Pell Grant and the total Pell Grant amount that you will receive. The lower your EFC score, the higher the chances will be that you receive a Pell Grant. All students with an EFC score of 0 will be eligible to receive the full Pell Grant award amount. Your EFC score is based on your family income, number of students in college, college costs, and financial need. Financial need plays a major role in the Pell Grant distribution, since the Pell Grant is for low-income students.
The Fiscal Year 2011 federal budget cuts eliminated the allowance of receiving up to two consecutive Pell Grant awards during a single award year. Beginning with the 2011-12 award year, you may receive only one Pell Grant award during a single award year.
Students that received a Pell Grant for the first time on or after July 1, 2008 are eligible to receive the Pell Grant award amount for up to 18 semesters or the equivalent.
It has been estimated that over 19 million students attending a Title IV school is currently receive some amount of Pell Grant funds, which is a 4% increase versus prior year.
The current maximum Pell Grant amount is based on no further federal budget cuts and no Pell Grant funding cuts.
As you can see from the table above, students will have the opportunity to receive a maximum Pell Grant amount of over $6,000 in future school years if no further federal budget or Pell Grant cuts take place.