(5) Notwithstanding any other provision of this subpart, the Secretary shall allow the amount of the Federal Pell Grant to be exceeded for students participating in a program of study abroad approved for credit by the institution at which the student is enrolled when the reasonable costs of such program are greater than the cost of attendance at the student’s home institution, except that the amount of such Federal Pell Grant in any fiscal year shall not exceed the maximum amount of a Federal Pell Grant award described in paragraph (6), for which a student is eligible during such award year. If the preceding sentence applies, the financial aid administrator at the home institution may use the cost of the study abroad program, rather than the home institution’s cost, to determine the cost of attendance of the student. (6) Maximum Federal Pell Grant (A) Award year 2019–2020 For award year 2019–2020, the maximum Federal Pell Grant shall be $6,595. (B) Subsequent award years For award year 2020–2021 and each subsequent award year, the maximum Federal Pell Grant shall be equal to the total maximum Federal Pell Grant for the preceding award year under this paragraph— (i) increased by the annual adjustment percentage for the award year for which the amount under this subparagraph is being determined