What is a Pell Grant?
The Pell Grant is the largest federal grant, offered throughout the year. The maximum Pell Grant for each term is $1850, with the maximum for the year being $5550. This is if you qualify for the whole grant (have a 0 EFC) and if you attend full-time (12+ credits).
For most students, this is enough to cover the costs of your programs' tuition, fees, and books if you qualify for the whole thing. This grant is prorated if you attend 3/4-time, half-time, or less than half-time, but your tuition and book costs are also lower, so often it is still enough to cover your bill at Lane.
Please note, there are significant changes to the Pell Grant from prior years:
- Congress has limited the Pell Grant to 6 years, total (calculated at a full-time rate), and this limit is retroactive. This means that, even if you qualify through your income level, if you have met this limit at any time, you will no longer be eligible for this grant. If you are planning on transferring to a 4-year university program after you leave Lane, keep this limit in mind.
- Congress also eliminated the Obama Stimulus "4th term Pell" for year-round students. This means if you attend Summer term, your Pell amount comes out of the following Spring term's eligibility.
- The Pell, once paid, may be partially or fully retracted if you drop a class before the "enrollment freeze" point for a term. If you are paid a full Pell at the beginning of the Summer term, but drop any credits for a "late start" class before that class' refund deadline, you will have your Pell adjusted to the lower level of credits and have to repay any overpayment.