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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.
Amount of Pell Grant. As of 2010, the minimum award for the Pell Grant is $486. The maximum Pell Grant amount is $5350. This is a $619 increase from the 2008-09 school year. For the 2010-11 school year, the maximum Pell Grant amount will increase to $5500. By the 2019-2020 school year, it will be $5900. The Obama administration with the Education Reconciliation Act put $36 billion into Pell Grants alone over the next 10 years.