Federal Pell Grant
A Federal Pell Grant, unlike a loan, does not have to be repaid. Federal Pell Grants are awarded only to undergraduate students, who have not earned a bachelor's or professional degree.
2012-2013 Academic Year: Federal Pell Academic year will be 30 weeks.
Beginning with 2012-2013 award year, the Federal Pell Grant will be awarded only on the Fall and Spring semesters.
A Free Application for Federal Student Aid (FAFSA) must be submitted to determine eligibility. The U.S. Department of Education uses a standard formula, established by Congress, to evaluate the information you report when you apply. The formula produces an Expected Family Contribution (EFC) number. Your Student Aid Report (SAR) contains this number and will tell you if you're eligible.
The enrollment status of the student (i.e. full-time, three-quarter time or half-time) will have a proportional effect on the amount of money the student will receive. Student's Pell award will be adjusted each term to match their enrollment status, as of the term census day, to match the eligible financial aid credits for the term. Repeat courses and courses not in the student's degree plan may cause the student to be eligible for a lower award for the term.
The amount of Federal Pell Grant funds you may receive over your lifetime is limited by new federal law to be the equivalent of six years of Pell Grant funding. Since the maximum amount of Pell Grant funding can receive each year is equal to 100%, the six-year equivalent to 600%