is a pell grant a payout
To get a Pell grant, you must complete the... Free Application for Federal Student Aid ; Quick information on Pell grants: A Federal Pell Grant, unlike a loan, does not have to be repaid. The maximum Pell grant for the 2015â16 award year (July 1, 2015, to June 30, 2016) is $5,775. The amount depends on your financial need, costs to attend school, status as a full-time or part-time student, and plans to attend school for a full academic year or less.