The maximum amount of money you can get from a Pell Grant is: $7,395 (2024–25). The amount granted depends on your Student Aid Index (SAI), cost of attendance, your status as a full-time or part-time student, and your plans to attend school for a full academic year or less.
A scheduled award represents 100% of your Pell Grant eligibility for that aid year. If you receive the full amount of your scheduled award, then you have used 100%. If you were not enrolled for the full year or not enrolled full-time (or both), a percentage of the scheduled award will be calculated.
You could qualify for both a Pell Grant and a Cal Grant. To apply for a Pell Grant, you must submit the FAFSA. For the Cal Grant, you must submit both the FAFSA OR CA Dream Act Application and your verified Cal Grant GPA by the March 2 Cal Grant deadline.
Once you have earned a baccalaureate degree or your first professional degree or have used up all 12 terms of your eligibility, you are no longer eligible to receive a Federal Pell Grant.
The Pell Grant is indeed a valuable financial aid resource for many college students. While there isn't a strict maximum family income limit for Pell Grant eligibility, the grant is typically awarded to students with financial need, particularly those with an annual family income of $60,000 or below.
It is free money that you do not have to pay back. However, students who leave school early may have to give the money back to the school. The Pell Grant is for students with the most financial need, and there is no deadline to apply. The amount can change depending on changes in your life.
The amount of Federal Pell Grant funds you may receive over your lifetime is limited by federal law to be the equivalent of six years of Pell Grant funding. Since the amount of a scheduled Pell Grant award you can receive each award year is equal to 100%, the six-year equivalent is 600%.
Aggregate (Lifetime) Limit - per program
As a result, the maximum annual amount for 2022-2023 is $3,772. The annual amount listed above is based on full-time enrollment. Review Understanding Enrollment Requirements for details on how your enrollment status impacts the amount of the grant you may receive.
What are the FAFSA income limits? A common myth is that students from high-income families won't qualify for FAFSA funding. In reality, there's no maximum income cap that determines your eligibility for aid. Although your earnings are a factor on the FAFSA, only some programs are based on need.
The Pell Grant has no minimum GPA; it is a purely need-based grant! That means that as long as you demonstrate need through the FAFSA and have gained admission to a college, you will qualify.
Why is my Pell grant super low than what I was promised? It sounds like you may not be attending full-time (12 credits or more per semester). The number on the FAFSA or the number most award letters will show is the amount of Pell Grant for full-time enrollment for the year (two semesters).
Students must be enrolled full-time (12 units or more) to receive a full-time Pell Grant award per term. If the student is enrolled less than full-time, the disbursement will be prorated at the time of disbursement. As a result of any enrollment changes, the final Pell grant disbursement may increase or decrease.
If you're eligible to receive this grant, your college or university will probably use it to cover whatever you owe, such as fees or the cost of room and board. If there's anything left over, you can receive it in the form of cash or a check. You may also be able to deposit the money directly into your bank account.
Depending on your year in school, your status and your financial need, it's possible that you can get enough financial aid to cover the entire cost of your attendance. However, in many cases, there are limits.
Your Pell Grant refund can be paid out directly to you once your institutional educational expenses are all paid. Once you've received the payment, you can choose to do whatever you'd like with it. However, you'll get the best bang for your buck if you spend it on other educational expenses.
Pell Grant awards are based on the Expected Family Contribution (EFC) on the student's SAR or ISIR, the academic year structure (see Chapter 1), and the student's cost of attendance (see Chapter 2). The Scheduled Award amounts are specified on the Pell Payment Schedules released by the Department.
A Federal Pell Grant, unlike a loan, does not have to be repaid, except under certain circumstances. To qualify for a Pell Grant, a student must demonstrate financial need through the Free Application for Federal Student Financial Aid (FAFSA®) form.
Pell Grants are need-based awards. Although students with family incomes up to $45,000 may be eligible, most awards go to students with family incomes below $20,000.
The Pell Grant can theoretically be used to pay for any expense. However, using these funds on expenses that aren't considered “qualified education expenses” may make the money subject to taxation.
A Pell Grant is tax-free income if it is spent only on qualified education expenses, which are generally tuition and fees, but paying these expenses with a Pell grant may lower your education credit or even cause you to lose credit eligibility.
What income is too high for FAFSA? There is no income that is too high to file a FAFSA. No matter how much you make, you can always submit a FAFSA. Eligibility for need-based financial aid increases as the cost of attendance increases, so even a wealthy student might qualify for financial aid at a higher-cost college.
A student who has earned a baccalaureate degree or a first professional degree cannot receive a Pell Grant. However, students enrolled in an eligible post baccalaureate program as described below are still considered undergraduates for purposes of Pell Grant eligibility.
Because Pell Grants are need-based aid, applicants must prove their income is low enough to receive the funds. This discourages many people from even applying, but the application takes into account the number of students in a household who are enrolled in college, as well as other factors.