The maximum award for Federal Pell Grants has increased to $6,195 for the upcoming academic year, according to the U.S. Department of Education. The new maximum award amount represents a slight increase from 2018-2019’s maximum of $6,095.
Federal Pell Grants are a type of college financial aid awarded to students who have great financial need. Unlike loans, the grants don’t require repayment. While the maximum amount has increased, not every student who qualifies for a Pell Grant will receive the same amount of money, as the amount awarded depends on the individual student’s situation as reported on their Free Application for Federal Student Aid (FAFSA).
The Expected Family Contribution, the cost of attendance, whether you are a full-time or part-time student, and your plans to attend school for a full academic year or less will impact the amount of the Pell Grant.