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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.
The Pell Grant is financial aid from the federal government based on your family income. Your college determines which grants you are eligible for, but if you are eligible for Pell, you would get between $577 and $5,550 for the academic year. Like grants, scholarships are financial aid you donât pay back.