2013-14 Federal Pell Grant Payment and Disbursement Schedules Now Available

31 Jan 2013 1:00 PM | Anonymous
Subject: 2013-2014 Federal Pell Grant Payment and Disbursement Schedules

Summary: The attachments to this letter contain the 2013-2014 Award Year Federal Pell Grant Program Payment and Disbursement Schedules.

Jeff Baker, Director
Policy Liaison and Implementation
Federal Student Aid
U.S. Department of Education

The Payment and Disbursement Schedules for determining Federal Pell Grant awards for the 2013-14 Award Year (July 1, 2013 through June 30, 2014) for full-time, three-quarter time, half-time and less-than-half time students are now available for download at the bottom of this message and from the Department of Education (http://ifap.ed.gov/dpcletters/GEN1306.html).

Section 401(b)(7)(B) of the Higher Education Act of 1965, as amended (HEA), provides for an automatic increase to the appropriated Federal Pell Grant maximum award, resulting in a 2013-2014 maximum award of $5,645. This maximum Pell Grant award for the 2013-2014 Award Year is an increase of $95 from the $5,550 maximum Pell Grant award for the 2012-2013 Award Year. The corresponding maximum Pell Grant eligible expected family contribution (EFC) for 2013-2014 is 5081 as compared to 4995 for the 2012-2013 Award Year.

The HEA establishes the minimum Pell Grant award for a student to be at least ten percent of the maximum award amount for the award year. Thus, for the 2013-2014 Award Year the statutory minimum Pell Grant Scheduled Award amount is $564. However, while the statutory minimum award is $564, because mid-points are used for both the EFC columns and the cost of attendance (COA) rows in constructing the schedules, the actual 2013-2014 Award Year minimum award amount for a full-time student is $582.

When using the attached schedules for awarding a Federal Pell Grant to a student, the full nine-month EFC must always be used regardless of the actual enrollment status or actual period of attendance of the student. Also, the COA to be used is always based on the costs for a full-time student for a full academic year, regardless of the actual enrollment status or actual time the student will be enrolled during the award year. It is important to note, however, that the statutory restrictions of using only certain cost components in constructing a COA in some circumstances still apply.
For example, for a less-than-half-time student, the COA includes only cost components for tuition and fees, books, supplies, transportation, room and board for a limited time period, and dependent care expenses.

As a reminder, a student's eligibility to receive a Federal Pell Grant award may be limited by the recent statutory change that sets a lifetime eligibility limit of 12 semesters or the equivalent – operationalized by the use of Lifetime Eligibility Used (LEU) percentages. Institutions should review previously posted information regarding the LEU limit including Dear Colleague Letter GEN-12-01 and Electronic Announcements posted to IFAP on February 17, 2012, March 2, 2012, April 6, 2012, May 10, 2012, June 14, 2012, and June 29, 2012.



Powered by Wild Apricot Membership Software