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Federal Pell Grant facts. Federal Pell Grants, the largest source of federally funded grants, are awarded solely based on your financial need (academic grades and extra-curricular activities arenât a factor). The maximum award for the 2017-18 academic year is $5,920.
The number of students awarded a Pell Grant â financial aid of as much as $5,700 given to those with a family income of up to 250 percent of the poverty line, or about $60,000 for a family of four â is considered the best indicator of how many are low-income.