USDE has released both PDF and Excel versions of the Payment and Disbursement Schedules for determining Federal Pell Grant awards for the 2014-2015 Award Year (July 1, 2014 through June 30, 2015) for full-time, three-quarter-time, half-time, and less-than-half-time students. All 2014-2015 Federal Pell Grant awards must be based on the attached schedules.
The 2014-2015 maximum Pell Grant award is $5,730. This maximum Pell Grant award for the 2014-2015 Award Year is an increase of $85 from the $5,645 maximum Pell Grant award for the 2013-2014 Award Year.
The corresponding maximum Pell Grant eligible expected family contribution (EFC) for 2014-2015 is 5157 as compared to the 2013-2014 maximum EFC of 5081. The minimum scheduled award amount is $587.
As a reminder, in 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. For more information on these COA restrictions please refer to Volume 3, Chapter 2, Cost of Attendance (Budget) of the Federal Student Aid Handbook.
Changes to the Central Processing System (CPS), the ISIR Analysis Tool, the Common Origination and Disbursement (COD) System, and the EDExpress for Windows software modifications that reflect the 2014-2015 payment and disbursement schedules are forthcoming. Watch for this information in future electronic announcements posted to the IFAP website.
The attachments to this DCL GEN-14-01 contain the 2014-2015 Award Year Federal Pell Grant Program Payment and Disbursement Schedules. http://ifap.ed.gov/dpcletters/GEN1401.html