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Federal Pell Grants What is a Federal Pell Grant? Unlike a loan, it doesn’t have to be repaid. Generally, Pell Grants are awarded only to undergraduate students— those who haven’t earned a bachelor’s or graduate degree. In some limited cases, however, you might receive a Pell Grant if you’re enrolled in a postbaccalaureate teacher certificate program. Pell Grants are usually a foundation of federal student aid, to which aid from other federal and nonfederal sources might be added. If you’re eligible for a Pell Grant, you’ll receive the full amount you qualify for. How do I qualify? We use a standard formula, established by Congress, to evaluate the information you report when you apply. The formula produces an EFC number. Your SAR contains this number, in the upper right portion of page 1. This number will determine if you’re eligible and how much you can receive. How much money can I get? The maximum Pell Grant for the 2004-2005 award year (July 1, 2004 to June 30, 2005) is $4,050. How much you get will depend not only on your EFC but also on your cost of attendance, whether you’re a full-time or part-time student, and whether you attend school for a full academic year or less. You may receive only one Pell Grant in an award year, and you may not receive Pell Grant funds from more than one school at a time. How will I be paid? Your school can credit the Pell Grant funds to your school account, pay you directly (usually by check), or combine these methods. The school must tell you in writing how and when you’ll be paid and how much your Pell Grant will be. Schools must pay you at least once per term (semester, trimester, or quarter). Schools that don’t use formally defined, traditional terms must pay you at least twice per academic year. Can I receive a Federal Pell Grant if I’m enrolled less than half time? Yes, if you’re otherwise eligible. You won’t receive as much as if you were enrolled full time, however. 
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