; (2) in subsection (b)— (A) in paragraph (2)(A)(ii), by striking paragraph (7)(B) and inserting paragraph (6)(B) ; (B) by striking paragraph (6), and redesignating paragraph (7) as paragraph (6); and (C) in paragraph (6)(C) (as so redesignated), by amending clause (iii) to read as follows: (iii) Subsequent award years (I) Award years 2018–2019, 2019–2020 and 2020–2021 For each of the award years 2018–2019, 2019–2020, and 2020–2021 the amount determined under this subparagraph for purposes of subparagraph (B)(iii) shall be equal to the amount determined under clause (ii) for award year 2017–2018. (II) Award year 2021–2022 For award year 2021–2022, the amount determined under this subparagraph for purposes of subparagraph (B)(iii) shall be equal to— (aa) $6,195 or the total maximum Federal Pell Grant for the preceding award year (as determined under clause (iv)(II)), whichever is greater, increased by $500; reduced by (bb) $5,135 or the maximum Federal Pell Grant for which a student was eligible for the preceding award year, as specified in the last enacted appropriation Act applicable to that year, whichever is greater, and (cc) rounded to the nearest $5. (III) Award year 2022–2023 and each subsequent award year For award year 2022–2023 and each subsequent award year, the amount determined under this subparagraph for purposes of subparagraph (B)(iii) shall be equal to— (aa) $6,695 or the total maximum Federal Pell Grant for the preceding award year (as determined under clause (iv)(II)), whichever is greater, increased by a percentage equal to the annual adjustment percentage for the award year for which the amount under this subparagraph is being determined; reduced by (bb) $5,135 or the maximum Federal Pell Grant for which a student was eligible for the preceding award year, as specified in the last enacted appropriation Act applicable to that year, whichever is greater; and (cc) rounded to the nearest $5.