Last updated on March 12, 2024 by College Financial Aid Advice.
Princeton University
Federal Pell grants for college students average around $2500 per year, and will be reduced if you reduce your units below 12 units, which is considered full-time. You also must make satisfactory academic progress to remain eligible for your grant.
For 2023 - 2024, the federal Pell Grant maximum award is $7395, and it is expected to be similar or slightly higher for 2024 - 2025. Students are limited to only 12 semesters, and some awards will be less than prior years. There are no awards for summer school.
Starting in 2024-25 academic year, the Pell Grant Award for each student is calculated as follows.
1. Max Pell - Start with the automatic Maximum Pell Grant Award.
2. Subtract SAI - Subtract the student’s Student Aid Index (SAI) from the Annual Max Pell.
or
3.Min Pell - The award will amount won't be lower than the Minimum Pell Grant Award.
Here is an example, which assumes the Max Pell is $7400 and the Min Pell in $700. Actual values are not yet published for 2024-25 school year.
Example Student | Max Pell | SAI | Max Pell - SAI | Min Pell | Scheduled Pell Award |
---|---|---|---|---|---|
Jose | $7400 | $300 | $7100 | $700 | $7100 | Michelle | $7400 | $3400 | $4000 | $700 | $4000 | Raj | $7400 | $7000 | $400 | $700 | $0 |
Here is an example of how the Pell Grant amount is reduced based upon Enrollment Intensity.
Credit Hours | Enrollment Intensity |
---|---|
12 or more | 100% |
11 | 92% |
10 | 83% |
9 | 75% |
8 | 67% |
7 | 58% |
6 | 50% |
5 | 42% |
4 | 33% |
3 | 25% |
2 | 17% |
1 | 8% |
Recipients are also eligible for other grants for college students that may be awarded based upon their FAFSA financial need, and outside scholarships making college much more affordable. Scholarships and Grants
Scholarships for 2024 - 2025 - It is never too early or too late to work on your scholarship searches. If you are part of the high school class of 2024, you should work on your scholarship and college search now. See our list of Scholarships for High School Seniors
FAFSA - The official 2024 - 2025 FAFSA is available now. FAFSA.
Scholarship Lists An overview of the different types of Scholarship Money for College.
Grants Learn more about grants, the other free money for college.
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