Academic Year Pell Formula

This is the formula used to calculate federal Pell Grant awards for students in the associated academic year.

The following options are available:

Value Description
Formula 1

Use of this formula has the following requirements:

  • Hours Type = Credit
  • Calendar Type= Standard Term
  • Term structure includes two semesters or trimesters (in the fall through the following spring) or three quarters (in the fall, winter, and spring)
  • No overlapping terms
  • Full-time enrollment for each term in the award year is at least 12 credit hours
  • At least 30 weeks of instructional time is provided in the fall through spring terms
Formula 2 If the institution doesn’t provide the 30 week minimum amount of instructional time required but meets all other requirements of Formula 1, then Formula 2 would apply.
Formula 3 Formula 3 can be used for any credit hour, term-based program.
Formula 4 All clock-hour programs and nonterm credit-hour programs must use Formula 4, unless they’re correspondence programs.
Formula 5 Formula 5 is used for students enrolled only in correspondence courses (not including residential components of correspondence programs).

For more information on rules and regulations concerning Title IV federal student aid programs, see the U.S. Department of Education’s Information for Financial Aid Professionals (IFAP) website.