ED releases Pell Grant Schedules for 2013-2014

February 4, 2013 · TG Policy and Regulatory Affairs · No Comments

On January 30, 2013, ED issued Dear Colleague Letter GEN-13-06 which publicizes the release of the Federal Pell Grant payment and disbursement schedules for the 2013-2014 award year. For the new award year, the maximum Pell award will be $5,645 which is an increase of $95 from the current maximum Pell Grant of $5,550 for the 2012-2013 award year.

Key points in the guidance
The DCL reminds schools that:

  • All Pell awards for the upcoming award year must be based on these schedules.
  • The schedules are available for download in a PDF and Excel format. The schedules include the enrollment statuses for full-time, three-quarter-time, half-time, and less-than-half-time students.
  • The nine month Expected Family Contribution (EFC) must always be used regardless of the student's actual enrollment status or period of attendance. The Cost of Attendance (COA) to be used is always based on the costs for a full-time student for a full academic year. However, the school must keep in mind certain restrictions related to constructing COA for specific circumstances. For example, the limitation on the room and board component for students who are less-than-half-time.
  • Students have a Pell Grant life-time eligibility limit of 12 semesters or the equivalent. Schools are encouraged to review the previously posted electronic announcements and DCLs covering Lifetime Eligibility Used (LEU) percentages.

For more information
School may contact the Research and Customer Care Center by phone at: 800-433-7327 between the hours of 9-5 (Eastern time) or by email at: fsa.customer.support@ed.gov. Calls after hours are accepted by a voice response system.

Tags: Financial Aid