; reduced by (II) 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; and (III) rounded to the nearest $5. . (b) Award year 2025–2026 and subsequent award years (1) Amendment to award amount Section 401(b)(5)(A) of the Higher Education Act of 1965 ( 20 U.S.C. 1070a(b)(5)(A) ), as amended by section 703 of the FAFSA Simplification Act (title VII of division FF of Public Law 116–260 ) and section 102(b)(1)(A) of the FAFSA Simplification Act Technical Corrections Act (division R of Public Law 117–103 ), is amended to read as follows: (A) (i) Award years 2024–2025 and 2025–2026 For award years 2024–2025 and 2025–2026, the total maximum Federal Pell Grant award per student shall be equal to $14,800, reduced by the amount specified as the maximum Federal Pell Grant in the last enacted appropriation Act applicable to that award year. (ii) Subsequent award years For award year 2026–2027, and each subsequent award year, the total maximum Federal Pell Grant award per student shall be equal to the amount that is equal to $14,800, increased by a percentage equal to the annual adjustment percentage for the award year for which the amount under this subparagraph is being determined, then reduced by the amount specified as the maximum Federal Pell Grant in the last enacted appropriation Act applicable to that award year. . (2) Definition Section 401(a)(2) of the Higher Education Act of 1965 ( 20 U.S.C. 1070a(a)(2) ), as amended by section 703 of the FAFSA Simplification Act (title VII of division FF of Public Law 116–260 ), is amended— (A) in subparagraph (E), by striking and after the semicolon; (B) in subparagraph (F), by striking the period and inserting ; and