Upcoming changes to the Pell Grant program
July 1 marks the beginning of a new award year for federal financial aid. Along with it, several legislative changes come into effect that may impact eligibility for those students using the Pell Grant to help pay for their courses.
Pell Grant awards
Though the maximum Pell Grant award is not changing, there will be changes to the way the U.S. Department of Education determines who is eligible for a Pell Grant.
Beginning July 1, 2012, you will be eligible for a Pell Grant if your expected family contribution (EFC) is between 0 and 4,995. Award amounts will range from a minimum of $577 to a maximum of $5,550.
The EFC number is listed on your Student Aid Report (SAR), which is provided to you after the Free Application for Federal Student Aid (FAFSA) is completed.
Lifetime Pell limits
Also, beginning July 1, 2012, the lifetime limit for Pell eligibility will be six award years, or 12 payment periods. This will include all years in which you received a Pell Grant award. When you meet this limit, you will no longer be eligible for a Pell Grant award. This provision affects all students receiving Pell Grants and does not provide for any “grandfathering” or waiver for current recipients.
Beginning in July, you will be able to see your actual percentage of Pell eligibility used on the NSLDS website, and on your SAR.
If you have questions about how this change affects you specifically, please contact your finance advisor.
