$400–$4,731 2007 Amount of Aid Available: $13,989,305,000 Amount of Aid Available represents the amount of funds awarded to participants in the Federal Student Aid programs. Depending upon the program, this total may include federal appropriated dollars, institutional or state matching dollars, and federal or private loan capital. Number of New Awards Anticipated: 5,339,000 Average New Award: $2,620 Range of New Awards: $400–$4,310 Federal Pell Grant lifetime eligibility calculator The scheduled award is the maximum amount of Federal Pell Grant funding a student can receive is calculated for an award year. An award year is a period from July 1 of one calendar year to June 30 of the next year. The scheduled award is partially determined using the student's expected family contribution (EFC), which the program calculates from the information the student and family provided in the Free Application for Federal Student Aid (FAFSA). The result is the maximum amount the student can receive for the award year if enrolled full-time for the full school year. It represents 100% of the Pell Grant eligibility for that award year. To determine how much of the maximum six years (600%) of Pell Grant the student uses each year, the U.S. Department of Education (ED) compares the actual amount awarded for the award year with the scheduled award amount for that award year. A student who uses 100% receives the full award. A student might not receive the entire scheduled award for an award year, most commonly if the student did not enroll for the full year, did not enroll full-time, or both. If the student does not receive the full award, ED calculates the percentage of the scheduled award they received. Before the 2011-2012 Aid Year, the FAFSA limit was 18 semesters, but it was cut to 12 semesters by Congress. ED tracks the Lifetime Eligibility Used by adding the percentages of the Pell Grant scheduled awards a student receives each award year. See also Student financial aid in the United States References External links FAFSA on the Web 'The Mass Production of Credentials: Subsidies and the Rise of the Higher Education Industry.' "The Independent Review" 15 (3): 325–349 ed.gov studentaid.ed.gov Pell Grant Fraud Awareness: White-Collar Crime Challenges FBI Student financial aid in the United States Federal assistance in the United States Liberalism in the United States Subsidies United States Department of Education Grants (money)