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A Federal Pell Grant, unlike a loan, does not have to be repaid. Generally, Pell Grants are awarded only to undergraduate students who have not earned a bachelor’s or professional degree. (A professional degree is usually obtained after a bachelor’s degree in a field such as medicine, law, or dentistry.) In some cases, you might receive a Pell Grant for attending a post-baccalaureate teacher credential program.
Pell Grants are usually a foundation of financial aid, to which aid from other federal and nonfederal sources might be added.
The U.S. Department of Education uses a standard formula, established by Congress, to calculate an Expected Family Contribution (EFC) using the information you report on your FAFSA. This EFC determines your Pell Grant eligibility. You can find your EFC on page 1, upper right portion of your Student Aid Report (SAR).
Pell Grants range from $400- $5350 for the academic year, depending upon program funding. How much you get will depend on your EFC, your cost of attendance, whether you're a full-time or part-time student, and whether you attend school for a full academic year or less. You may receive only one Pell Grant in an award year, and you may not receive Pell Grant funds from more than one school at a time.
Yes, if you’re otherwise eligible your school must disburse your Pell Grant funds in accordance with your enrollment status. You won't receive as much as if you were enrolled full-time. Your school can’t refuse you an award simply because you’re enrolled less than half time.