By Chyrl Ayers, Rick Cox and Siobahn Arbogast
Here is a refresher on calculating the Scheduled and Annual Pell Awards and applying enrollment intensity in term-based programs.
The changes between 2023-2024 and 2024-2025 are outlined below:
- The Pell Payment and Disbursement Schedule Chart will be retired. FSA will publish maximum and minimum Pell values each award year.
- Expected Family Contribution (EFC) is being replaced with the Student Aid Index (SAI).
- There will be new maximum and minimum Pell indicators on the ISIR.
- All Scheduled Awards will be rounded to the nearest $5 increment; however, there are low Cost of Attendance exceptions.
- Half-time enrollment is not required for Year-Round Pell.
- The Annual Award will be calculated using the new enrollment intensity percentage. Enrollment intensity percentage does not apply to non-term credit or clock hour programs.
- The Iraq and Afghanistan Service Grant and Children of Fallen Heroes indicator had changes that allow the student to self-identify, thus making them eligible for the maximum Pell award.
- The Department of Defense match will be retired.
It is important to understand the terminology of Scheduled vs. Annual Award. The Scheduled Award is the maximum amount a student may receive when attending full-time; however, the Annual Award is the Scheduled Award adjusted by enrollment intensity. (Enrollment intensity is rounded to the nearest whole percentage.)
The Scheduled Award is determined based on the Max Flag set, Min Flag set or In Between Calculation because of an SAI greater than 0 (formula: Maximum Pell – SAI).
The Pell Annual Award will be determined based on the Scheduled Award multiplied by the enrollment intensity percentage per term and then divided by the number of terms in the academic year. If the student is eligible for minimum Pell, the student will receive the published minimum Pell for their Scheduled Award; however, the annual amount will be based on the enrollment intensity. The calculation of the in-between Scheduled Award will be based on the maximum Scheduled Award minus the SAI rounded to the nearest $5. The calculated Scheduled Award will still need to have enrollment intensity applied to determine the Annual Award per term.
Note: For non-term credit and clock hour programs, enrollment intensity does not apply. These students are always considered full-time for Pell purposes.
Global’s blog on financial aid news from the 2023 FSA Conference is from Chyrl Ayers, Chief Operating Officer; Rick Cox, Executive Director of Regulatory Affairs and Compliance; and Siobahn Arbogast, Director of Title IV Accounting.