Getting ready for new Pell amounts
March 09, 2023
Several things have to happen for students to receive the correct Pell Grant amount.
In a March 7 Electronic Announcement, the Department of Education outlined steps it is taking to implement 2023-24 Federal Pell Grant Payment and Disbursement Schedules.
In the announcement, the Department provided information about the system, web, and software modifications it is making to reflect the 2023-24 Federal Pell Grant (Pell Grant) payment and disbursement schedules. This includes changes it must implement to the Central Processing System (CPS), the Common Origination and Disbursement (COD) System, and the EDExpress for Windows software.
The maximum Pell Grant award for the 2023-24 award year is $7,395, an increase of $500 from the $6,895 maximum Pell Grant award for the 2022-23 award year. The maximum expected family contribution (EFC) eligible for a Pell Grant for the 2023-24 award year is 6656, as compared to 6206 for the 2022-23 award year.
The Department said it has started the work needed to modify the systems, web and software products, technical documents, training materials, and publications to reflect the 2023-24 Pell Grant payment and disbursement schedules. In the announcement, the Department describes the impact to the systems and software products, as well as provides the anticipated completion date for each update.