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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 total Pell Grant funding amount for the year 2014 is $31.1 billion. Broken down this means that for 2015, the maximum grant appropriation per student is $4,860, and the mandatory entitlement amount is $915 for a total of $5,775 for the year.he size of a studentâs Pell Grant is dependent on the studentâs expected family contribution (EFC), the cost of attendance (COA), the studentâs enrollment status (full-time or part-time), and whether the student attends for a full academic year or less.