2012-2013 Pell Grant Amount
The maximum Pell Grant award amount for the 2012-2013 school year is $5,550, which has not changes from the 2011-2012 school year. There is no change to the Pell Grant amount schedule for the majority of EFC scores, which means many students will receive the same Pell Grant amount that they received during the 2011-2012 school year. The maximum Pell Grant eligible EFC for 2012-2013 is 4,995, which is less than the 5,273 EFC maximum for the 2011-2012 school year. This means that students must have a 4,995 or lower EFC to become eligible for a Pell Grant.
On December 23, 2011 President Obama signed the Consolidation Appropriations Act 2012 that established the maximum federal Pell Grant award for the 2012-2013 year at $4,860, which is the same award amount in 2011-2012. However, due to the yearly automatic Pell Grant increase outlined in the Higher Education Act of 1965, the Pell Grant award increased $690, resulting in a 2013-2013 maximum Pell Grant award of $5,550.
The minimum Pell Grant award in the 2012-2013 school year is $555. For the 2012-2013 school year, only students who are eligible for at least 10 percent of the total $555 will be eligible for a Pell Grant. In prior years, students only needed at least 5 percent of the total Pell Grant minimum to receive the Pell Grant.
Students that receive a Pell Grant will be notified by their financial aid office through their financial aid award letter. Most financial aid offices will hold Pell Grant funds to pay for the studentís tuition and fees. Any remaining Pell Grant award not used will be disbursed to the recipient through direct deposit or Check.
Students are able to use the remaining funds to pay for any school-related expenses. These expenses include textbooks, electronics, as well as any other school related items. Itís important to note that students are not audited for the actual items purchased, so students should not be concerned with saving receipts in case of an audit.