Financial Aid

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Many Penn College students are awarded Pell Grants to help cover college expenses. The maximum 2022-23 annual award is $6,895 or $3,447 a semester, for full-time enrollment.

Eligibility Requirements

To be eligible, you must:

  • Be enrolled as a degree- or certificate-seeking student in any of our majors
  • Have not completed the requirements for a baccalaureate or graduate degree
  • Not be in default of a federal loan
  • Not have reached the Pell Grant lifetime eligibility limit
  • Maintain satisfactory academic progress toward the completion of your degree or certificate
  • Not awarded a Pell Grant from another college during a concurrent term

FAFSA Application

You’ll need to complete the FAFSA  to be considered for Pell Grants. You might also have to provide Federal Verification.

Eligibility Notification

Beginning in late winter, we will inform all students with a completed FAFSA if they are eligible or not for a Pell Grant for the upcoming academic year. Eligible students will see their award amount (based on full-time enrollment) on the Financial Aid Award Summary page in the Financial Information section of the Student Information System (SIS).

Prorated Award Values

Pell Grants are prorated for part-time students, based on the number of enrolled credits.

  • Full-time (12 or more credits) = full semester award
  • 3/4-time (9-11.9 credits) = 3/4 of full semester award
  • Half-time (6-8.9 credits) = 1/2 of full semester award*
  • 1/4-time (fewer than 6 credits) = 1/4 of full semester award*

*Students with annual Pell awards less than $4,100 may not be eligible for part-time awards, especially if enrolled less than half-time.

Enrollment Status Adjustments

Pell awards are adjusted, if needed, based on your enrollment status (full-time, etc.) at the end of the drop-add period.

Example Situation

Chris begins a semester with 13 credits and a full-time Pell Grant award of $2,000. If Chris drops a 3-credit, full-semester class before the third week of the semester, his enrollment status changes to three-quarter time (10 credits) and his Pell Grant award is reduced to $1,500. The College will also reduce the cost of the course by 70%. If Chris withdraws from the course after attending through the third week, there will be no reduction in his Pell Grant.


All of your Federal Pell Grant may be used to reduce your student eBill rather than be refunded to you. If you're sponsored for educational costs by an agency or program, your Pell Grant may be used first to reduce that program’s cost to sponsor you.

If the total of your Federal Pell Grant and other aid is greater than your student eBill charges, the excess amount will be refunded to you and can be used for other educational expenses like off-campus room and board, books, and transportation. Refunds for grant awards (Pell, PA State, FSEOG, etc.) are not issued until a month or more after the semester begins. You'll need to cover these other educational costs until that time.

Students with a ‘Pending Credit Balance’ on their eBill can use that credit balance to purchase required textbooks and supplies approximately ten days before the start of a semester by showing their Penn College ID at the College Store.

Summer 2022 Enrollment

Pell-eligible students enrolled for Summer 2022 are awarded a Pell Grant based on their number of eligible summer credits. Feel free to contact the Financial Aid Office for more information.


Financial Aid

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