What is a Pell Grant?
The Pell Grant is awarded to undergraduate students who have not yet completed a bachelor’s or a professional degree. The money from a Pell Grant does not need to be repaid.
The amount a student receives from a Pell Grant depends on the information they have submitted in their FAFSA. The amount awarded depends on factors like the student’s financial need and the student’s status as either a full-time or part-time student. For the 2014-2015 award year, the maximum award for a Pell Grant was reported as $5,730.
According to federal law, the amount of Pell Grant funds a student can receive over their lifetime cannot exceed six years.