The Federal Pell Grant program is the largest grant program available. A Federal Pell Grant, unlike a loan, does not have to be repaid. Federal Pell Grants are usually awarded to eligible undergraduate students who have not earned a bachelor’s degree or professional degree and who are enrolled in an eligible program. Federal Pell Grant award amounts can vary yearly.
Pell Lifetime Eligibility Usage: Effective Fall 2012, Pell Lifetime Eligibility Usage (LEU) limits the number of years or semesters that a student can receive Pell funds. Full-time students can only receive Title IV aid for a total of 6 years or 12 semesters. This timeframe is increased for part-time students.