Federal Pell Grants are usually awarded only to undergraduate students who display exceptional financial need and have not earned a bachelor’s, graduate, or professional degree. A Federal Pell Grant, unlike a loan, does not have to be repaid, except under certain circumstances.
With Federal Pell grants, amounts can change yearly. The maximum Federal Pell Grant award is $7,395 for the 2023–24 award year (July 1, 2023, to June 30, 2024). The amount you get, though, will depend on your financial need, your cost of attendance, your status as a full-time or part-time student, and your plans to attend school for a full academic year or less. You may not receive Federal Pell Grant funds from more than one school at a time. If your parent or guardian was a member of the U.S. armed forces and died as a result of military service performed in Iraq or Afghanistan after the events of 9/11, you may be eligible for additional Federal Pell Grant funds if, at the time of your parent’s or guardian’s death, you were under 24 years old or enrolled in college at least part-time.
Learn More Here