Facts of the Month

Pell Grant Increase for 2007-2008

After five years of flat Pell Grant awards, this important need-based grant program saw an increase in its award schedule for academic year 2007-2008. Thanks to legislation passed late in 2007, the maximum Pell Grant is scheduled to increase again in academic year 2008-2009. The new maximum award will be $4,731, up from $4,310. The minimum award will remain $400. It is also worth noting that in light of part of this legislation, the Expected Family Contribution (EFC) cutoff at which a student is eligible to receive a Pell Grant will decrease in academic year 2008-2009. The new EFC threshold will be $4,041, down from $4,110 in 2007-2008. This decrease is due to Department of Education funding included in the Consolidated Appropriations Act, 2008 signed in December 2007.

Publication Date: February 2008