<p>I have $965 left in Pell Grant money to use for this summer semester. What is the fewest amount of credits I can take to get the maximum amount of Pell released to me? Six credits at my school with fees would cost $1018.</p>
<p>When you say you have $965 left, what exactly do you mean? Do you mean you did not use your full eligibility (based on your EFC) for the year already? (either because you were less than full time or only went for one semester).</p>
<p>If you actually have $965 of eligibility left (because you were less than full time or only went for one semester), then if $965 is the amount you would receive for going full time, that generally means 12 full credit hours just the same as during a regular semester. Between 9-11 hours would be 3/4 time and you would get 3/4 your Pell eligibility, 6-8 would be half time and yo would get half your eligibility. </p>
<p>The actual cost of the classes is not relevant as far as the amount of pell you would get. Just whether you are full time. 3/4 time etc.</p>
<p>First of all, you need to know your annual award … that is, how much Pell you were awarded for the year. Then, divide it by two. That is how much you “can” get each semester. Now, determine how much you “can” get based on the number of credits you are taking.</p>
<p>Here is an example: Your annual award is $5000. Your semester award is 5000/2=2500. 12+ credits is 100% of the semester award; 9-11 is 75%; 6-8 is 50%; 5 or fewer is 25%. So, you “can” get, in this case: 12+=2500; 9-11=1875; 6-8=1250; 5 or fewer=625. If you only had 625 left for the year, you would only get 625 even if you took 12 credits … you “can” get a certain amount, but in summer you might only have some left, so you wouldn’t get more than you have left.</p>
<p>If you post your annual award I can tell you the amount you would get at each credit amount.</p>