How much is the Pell Grant for 2024?

Each year, the federal government updates the maximum Federal Pell Grant award amount. This amount is based on a variety of factors, including inflation and changes in the cost of education.

The Federal Pell Grant is a financial aid program offered by the United States government to assist students in pursuing higher education. The amount of money a student can receive from this grant varies depending on several factors.

One of the key determinants of the Pell Grant award is the cost of attendance at the student's chosen institution. The higher the cost of tuition and other expenses, the more likely it is that a student will qualify for a larger Pell Grant award.

Another important factor is the student's financial need. The Pell Grant is designed to provide assistance to those who demonstrate the greatest financial need, taking into account factors such as family income and assets.

For the 2024–25 award year, the maximum Pell Grant award is set at $7,395. This amount can vary depending on the student's individual circumstances, but it represents the maximum amount of money a student can receive from the Pell Grant program during that academic year.