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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.
They are funded by the government and administered by the U.S. Department of Education. Pell Grants typically go to students with a total family income of below $20,000, although students with higher family incomes still may qualify. For the 2012-13 school year, the maximum Pell Grant was $5,550. In 2010, nearly 8 million students received a total of $28 billion in Pell Grants.