Q: How much money or financial aid can a college student get from federal Pell grants, and when would the student receive that Pell grant money from the government?
A: The Federal Pell Grant: Federal Pell Grant award amounts can change yearly. The maximum Pell Grant award for the 2010–11 award year was $5,550. How much Pell Grant aid a student can receive will depend on the students EFC, students cost of attendance, full-time or part-time status, when the student applies, amount of funding the school has, and if the student will be attending school for a full academic year. Students may be eligible to receive up to two Federal Pell Grants in an academic / award year, however they may not receive Federal Pell Grants from more than one college at a time.
How Federal Pell Grant Awards Are Dispersed: There are a number of different methods for receiving Federal Pell Grant funds, the payment method(s) will typically depend on the policies of your school or college. Some payment methods include: Paying the student by check, crediting the Pell Grant funds to a students school account, or depositing the Pell Grant funds into the students bank account. Schools are required to pay students receiving Pell Grant funds at least once per semester, trimester, or quarter. For schools that do not use semesters, trimesters, or quarters, they must pay students receiving Federal Pell Gant funds at least twice per academic year.
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