; and (ii) is carrying a work load that— (I) is greater than the normal full-time work load for the course of study the student is pursuing, as determined by the institution of higher education; and (II) will lead to the completion of not less than 30 credit hours (or the equivalent coursework) upon the completion of the final payment period for which the student is receiving the Federal Pell Grant described in clause (i). (B) Amount of bonus The amount provided to an eligible student under subparagraph (A) for an award year may not exceed $300, which shall be equally divided among each payment period of such award year described in clauses (i) and (ii) of subparagraph (A). . (2) Effective date The amendments made by paragraph (1) shall take effect with respect to award year 2018–2019 and each succeeding award year. (c) Period of Eligibility for Grants Section 401(c) ( 20 U.S.C. 1070a(c) ) is amended by adding at the end the following: (6) (A) The Secretary shall issue to each student receiving a Federal Pell Grant, an annual status report which shall— (i) inform the student of the remaining period during which the student may receive Federal Pell Grants in accordance with paragraph (5), and provide access to a calculator to assist the student in making such determination; (ii) include an estimate of the Federal Pell Grant amounts which may be awarded for such remaining period based on the student’s award amount determined under subsection (b)(2)(A) for the most recent award year; (iii) explain how the estimate was calculated and any assumptions underlying the estimate; (iv) explain that the estimate may be affected if there is a change— (I) in the student's financial circumstances; or (II) the availability of Federal funding