Publication Date: January 31, 2014
Subject: 2014-2015 Federal Pell Grant Payment and Disbursement Schedules
Summary: The attachments to this letter contain the 2014-2015 Award Year Federal Pell Grant Program Payment and Disbursement Schedules.
Attached are 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. We are continuing our practice of presenting the PDF version in two parts for each of the four schedules.
Section 401(b)(7)(B) of the Higher Education Act of 1965, as amended (the HEA), provides for an automatic increase to the appropriated Federal Pell Grant maximum award, resulting in a 2014-2015 maximum award of $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.
Section 401(b)(4) of the HEA establishes the minimum Pell Grant award be at least ten percent of the maximum award amount for the award year. Thus, for the 2014-2015 Award Year, the statutory minimum Pell Grant scheduled award amount is $573. However, while the statutory minimum scheduled award is $573, because we use mid-points in both the EFC columns and the cost of attendance (COA) rows in constructing the schedules, the actual 2014-2015 Award Year 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.
In future electronic announcements, we will provide institutions with important information about system, Web, and software modifications that reflect the 2014-2015 payment and disbursement schedules. These include changes to: the Central Processing System (CPS), the ISIR Analysis Tool, the Common Origination and Disbursement (COD) System, and the EDExpress for Windows software.
Also, note that a student’s eligibility to receive a Federal Pell Grant award may be limited by the statutory provision in section 401(c)(5) of the HEA that sets a lifetime Pell Grant eligibility limit of 12 semesters (or its equivalent). Institutions should review previously posted information on Pell Grant eligibility determinations and the Lifetime Eligibility Used (LEU) limit posted on our Information for Financial Aid Professionals (IFAP) Web site (See Dear Colleague Letter GEN-13-14).
We appreciate your continued support in making Federal Pell Grant Program assistance available to students. If you have any questions regarding the 2014-2015 Federal Pell Grant Payment and Disbursement Schedules, please contact our Research and Customer Care Center (Care Center) staff. Staff members are available Monday through Friday between the hours of 9:00 AM and 5:00 PM (Eastern Time) at 1-800-433-7327. After hours calls will be accepted by an automated voice response system. Callers leaving their names and phone numbers will receive a return call within two business days. Alternatively, you may e-mail the Care Center at email@example.com.
Sincerely,Jeff Baker, Director
Policy Liaison and Implementation
Federal Student Aid
U.S. Department of Education