| DCLPublicationDate: 2/1/96 DCLID: P-96-1 AwardYear: Summary: This letter contains the 1996-97 Federal Pell Grant Program payment and disbursement schedules. February 1996 P-96-1 Summary: This letter contains the 1996-97 Federal Pell Grant Program payment and disbursement schedules. FEDERAL STUDENT FINANCIAL AID HANDBOOK REFERENCE: Please refer to Chapter 4 of the Federal Student Financial Aid Handbook for further assistance. Dear Colleague: Enclosed are the payment and disbursement schedules for determining, at this time, Federal Pell Grant awards during the 1996-97 award year -- July 1, 1996 to June 30, 1997. The 1996-97 schedules consist of four separate tables for calculating scheduled awards and disbursements: full-time, three-quarter-time, half-time, and less-than-half-time students. Section 482 of the Higher Education Act of 1965, as amended, requires the Secretary to publish these schedules by February 1, 1996. Please be aware, however, that we are publishing these schedules during a period of uncertainty about the final outcome of the fiscal year 1996 budget for the Department of Education, including the Federal Pell Grant Program. These schedules are based on the Continuing Resolution (P.L.104-99) making further continuing appropriations through March 15, 1996, for the Departments of Labor, Health and Human Services, and Education. The continuing resolution provides for a maximum Pell grant of "at least $2,440". Thus, the enclosed Federal Pell Grant Program payment and disbursement schedules for 1996-97 are calculated using a $2,440 maximum award. All other aspects of the Pell Grant award calculation remain as in the 1995-96 award year, including maintaining a minimum award of $400, which translates into a maximum expected family contribution of $2,240. The maximum award of $2,440 is less than the Administration has proposed, and the Administration is actively seeking Congressional approval of a higher level. If subsequent legislation increases the maximum award above $2,440, we will publish a new set of schedules. We appreciate your continued support in making Federal Pell Grant assistance available to students. If you have any questions regarding the enclosed payment and disbursement schedules for the calculation of awards, please contact Steve Carter at (202) 708-4893. Elizabeth M. Hicks Deputy Assistant Secretary, Student Financial Assistance Programs Enclosure |