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Federal Pell Grant facts. Federal Pell Grants, the largest source of federally funded grants, are awarded solely based on your financial need (academic grades and extra-curricular activities arenât a factor). The maximum award for the 2017-18 academic year is $5,920.
Quick information on Pell grants: 1  A Federal Pell Grant, unlike a loan, does not have to be repaid. 2  The maximum Pell grant for the 2015â16 award year (July 1, 2015, to June 30, 2016) is $5,775. The amount depends on your financial need, costs to attend school, status as a full-time or part-time student, and plans to attend school for a full academic year or less. 2  Learn more about Pell grants.