Pell Grant Amount
The maximum Pell Grant award for the 2011-12 award year (July 1, 2011 to June 30, 2012) is $5,550. The total 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 award amount is given to low income students and to any 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.
Beginning with the 2011-12 award year, you may receive only one Pell Grant award during a single award year.
If you received a Pell Grant for the first time on or after July 1, 2008, you can only receive the Pell Grant for up to 18 semesters or the equivalent.
Your school’s financial aid office will either apply Pell Grant funds towards your school costs, disburse a Pell Grant award check, or a combination of both. Your school must tell you in writing how much your award will be and how and when you'll be paid. Schools must disburse funds at least once per term (semester, trimester, or quarter). Schools that do not use semesters, trimesters, or quarters must disburse funds at least twice per academic year.
The Pell Grant is expected to increase every year until it reaches the maximum amount of $5,975 by 2017. Once it reached the maximum then the Pell Grant is expected to increase based on Cost of Living Adjustments (COLA). Due to the recent federal budget deficits, the Pell Grant increases are in jeopardy and the award amount may actually decrease in future years.
Additional Pell Grant cuts may be on the table due to the recent federal government deficits in 2011. If federal financial aid funding cuts do take place then the Pell Grant Program would be the most impacted