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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.
To apply for the Federal Pell Grant, file the FAFSA. The grant is only available to undergraduate students who have not yet earned a bachelor's or professional degree. The maximum award amount for the 2016-17 award year is $5,815. The maximum award amount for the 2017-18 award year is $5,920.