What Is the Maximum Amount the Pell Grant Can Give You?
Pell Grants are the main type of grant that the federal government issues to undergraduate students. Applicants qualify for the grant based on how much the government formula calculates the applicant's household can afford to pay for college each year. The less the family can afford, the more the government awards in a Pell Grant.
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Full-Time Student
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At the time of publication the largest possible Pell Grant award is $5,550. This is given to full-time students with an estimated family contribution of zero. Students who accelerate their coursework to complete more than one academic year in a calendar year might be able to receive more than one Pell Grant. For example, if a student takes a full-time course load for two semesters plus summer classes, he will run out of Pell funds before the summer classes and is eligible to receive another Pell award based on the number of credits he is taking that summer.
Part-Time Student
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The school's financial aid office must adjust the award for part-time students based on the number of credits taken. A course load of 12 semester credits is considered full-time. If a student is enrolled for at least nine credits but less than 12, he is a 3/4-time student and gets 3/4 of his Pell Grant for that semester. A student has to take at least six credits to get half of the grant and at least one credit to get 1/4 of the grant. For example, if a student is awarded a Pell Grant of $5,550 for the year, this is $2,775 per semester. If he is taking eight credits during a semester, that is 3/4 time, so he gets a Pell Grant of $2,775 x 0.75 = $2,081.25.
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Overall Timeframe
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A student cannot receive Pell Grants for more than 18 full-time semesters. This allows the average student plenty of time to complete an undergraduate degree. Students generally cannot use Pell Grants after getting a bachelor's degree. The only exception is if a student is taking post-baccalaureate coursework that is required to be licensed as a teacher in his state of residence.
Getting a Pell Grant
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You must apply for financial aid from the federal government to be considered for a Pell Grant. Fill out the Free Application for Federal Student Aid (FAFSA) before each school year. The federal government uses the information on the FAFSA, including your and your parents' or spouse's income and assets, to calculate how much your family should contribute toward college. Your Pell Grant award amount is based directly on your estimated family contribution.
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