Pell Grant 2024-25 Amount. As a reminder, the fafsa simplification act changed the process for determining the amount of a student’s scheduled pell grant award. The new formula for determining a student’s pell grant eligibility, called the student aid index (sai), is simpler than the previous one and allows students to estimate in advance whether they will be eligible for a minimum or maximum grant based on just a few factors.
Expanding access to federal pell grants. We estimate more than 7 million students will receive a pell grant next year, and 5.7 million will be eligible for the maximum pell grant of $7,395.
However, A Student Whose Newly Combined Pell Leu Exceeds 600% Will Not Be Considered To Have Received A Pell Grant Overaward.
Cordray noted in his letter that they are releasing the amounts today to be in accordance with section 482 of the higher education act of 1965.
Modifications To Family Definitions In Fafsa Formulas.
The minimum pell grant award amount will be 10% of the maximum pell grant award amount for the award year.
Pell Grant 2024-25 Amount Images References :
Replacing The Expected Family Contribution (Efc) With The Student Aid Index (Sai) 2.
Not all pell grant recipients receive the maximum amount.
A Federal Pell Grant Can Help You Pay For College Or Career School Without Having To Repay It.
Both the maximum and minimum award amounts will be rounded to the nearest $5.