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Federal Pell Grant
What is a Federal Pell Grant?
A Federal Pell Grant is money given by the U.S. government to college students who need financial help. You must show financial need and not have received your first bachelor’s degree to qualify. Some students in post-baccalaureate programs for teacher certification can also qualify.
Purpose
The Federal Pell Grant program helps low-income American students access higher education. In 2012, it had a budget of $35 billion. Despite budget cut proposals, nearly ten million low-income students rely on this grant to start their careers instead of working low-paying jobs. These grants are a good investment in America’s future because these students will pay more taxes once they start earning higher wages.
How to Apply
Before applying, ensure your chosen school participates in the Federal Pell Grant program. Students cannot receive Pell Grants from more than one school at a time.
Grant Amount
The amount you get depends on your financial need, determined by a formula from the U.S. Department of Education. Factors include your expected family contribution (EFC), the cost of attending your school, your enrollment status (full-time or part-time), and how long you’ll be in school that year. Children of military personnel who died after 9/11/01 get the maximum amount if they qualify.
Pell Grant Facts & Figures
| Fiscal Year | Federal Funding | Grant Money Available | # of Expected Awards | Average Award | Award Range |
|---|---|---|---|---|---|
| 2023 | $27.3 billion | $27.6 billion | 6,249,000 | $4,417 | $750 to $7,395 |
| 2022 | $26.1 billion | $26.5 billion | 6,278,000 | $4,215 | $692 to $6,895 |
| 2021 | $24.6 billion | $24.8 billion | 6,254,000 | $3,970 | $639 to $6,495 |
| 2020 | $21.8 billion | $22.0 billion | 6,176,000 | $3,815 | $619 to $6,345 |
Pell Grant Schools
Here are some top schools that received Pell Grant money in recent years:
| School Name | Location | School Type | Pell Grant Money | # of Grants |
|---|---|---|---|---|
| University of Phoenix | Arizona | For-Profit | $1,117,230,538 | 275,416 |
| Ashford University | Iowa | For-Profit | $278,103,712 | 76,257 |
| Devry University | Illinois | For-Profit | $264,812,025 | 69,692 |
| Kaplan University | Iowa | For-Profit | $219,645,323 | 54,799 |
| Baker College | Michigan | Private | $107,807,910 | 34,953 |
| Colorado Technical University | Colorado | For-Profit | $103,082,486 | 32,548 |
| Strayer University | Washington D.C. | For-Profit | $100,367,037 | 34,343 |
| American Intercontinental University | Illinois | For-Profit | $97,635,872 | 26,037 |
| Miami Dade College | Florida | Public | $97,376,180 | 25,226 |
| Arizona State University | Arizona | Public | $92,772,056 | 23,340 |
| Houston Community College | Texas | Public | $88,280,352 | 28,468 |
| Virginia College | Alabama | For-Profit | $85,717,663 | 21,867 |
| Pennsylvania State University | Pennsylvania | Public | $84,382,179 | 23,178 |
| Broward College | Florida | Public | $83,307,816 | 25,795 |
| Liberty University | Virginia | Private | $81,286,106 | 22,509 |
| Grand Canyon University | Arizona | For-Profit | $78,872,908 | 20,795 |
| South University | Georgia | For-Profit | $75,857,233 | 27,563 |
| Kent State University | Ohio | Public | $73,512,045 | 18,702 |
| Instituto de Banca y Comercio | Puerto Rico | For-Profit | $72,746,257 | 16,441 |
| Valencia Community College | Florida | Public | $72,303,582 | 22,763 |
Application Process
After filing a FAFSA (Free Application for Federal Student Aid), you will get a SAR (Student Aid Report) or your school will get an ISIR (Institutional Student Information Record). This report tells you if you qualify for a Pell Grant and how much you’ll receive based on your expected family contribution.