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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 grants depend on federal funding. The maximum Pell grant for the 2015-2016 school year is $5,775. The total funding available to colleges is determined by government funding, and most students receive less than the maximum.