What is the Lifetime Pell Grant Limit?
The Federal Pell Grant program is a need-based grant that provides financial aid to eligible students to help pay for college expenses. The amount of Federal Pell Grant funds you may receive over your lifetime is limited by federal law to be the equivalent of six years of Pell Grant funding.
The six-year limit is based on the amount of Pell Grant funding you receive each year. Since the amount of a scheduled Pell Grant award you can receive each award year is equal to 100%, the six-year equivalent is 600%.
This means that the maximum amount of Pell Grant funding you can receive over your lifetime is 600%. This limit applies to all Pell Grant funds you have received, including any Pell Grant funds you received as a student at a previous college or career school.
It is important to note that the 600% lifetime limit does not mean that you can only receive Pell Grant funds for six years. You may receive Pell Grant funds for more than six years, as long as the total amount of Pell Grant funds you receive does not exceed 600%.
For example, if you receive the maximum Pell Grant award of $6,345 for two years, you will have used up 120% of your lifetime limit. If you then receive the maximum Pell Grant award of $5,920 for two more years, you will have used up 240% of your lifetime limit.
If you have already received Pell Grant funds for more than six years, you may still be eligible to receive additional Pell Grant funds, as long as the total amount of Pell Grant funds you receive does not exceed 600%.
It is important to keep track of the amount of Pell Grant funds you have received over your lifetime. If you exceed the 600% lifetime limit, you will no longer be eligible to receive Pell Grant funds.
The lifetime Pell Grant limit is an important factor to consider when planning for college expenses. Knowing the amount of Pell Grant funds you have already received and how much you may receive in the future can help you make informed decisions about how to pay for college.