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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.
For 2015 - 2016 school year, the maximum Pell Grant is $5775. The basic Pell Grant requirements are: The Pell Grant application is the same one for other federal student financial aid-the FAFSA. Submit a FAFSA either online or paper based application.