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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 three most important things to know about Federal Pell Grants are that they generally donât have to be repaid, what the maximum reward is, and what constitutes financial need. âAmounts can change yearly. The maximum Federal Pell Grant award is $5,730 for the 2014â15 award year (July 1, 2014, to June 30, 2015). For the 2015â16 award year (July 1, 2015, to June 30, 2016), the maximum award will be $5,775. Then thereâs the good news. Because of family size, number of kids in college, etc., you may qualify.