The Department of Education (ED) on Thursday published revised Pell Grant payment and disbursement schedules for the 2022-23 award year that reflect a $400 increase to the maximum Pell Grant made possible by the passing of the omnibus spending bill in early March.
The new maximum Pell Grant for the 2022-23 award year of $6,895 is reflected in the updated payment and disbursement schedules.
In the announcement, the Office of Federal Student Aid (FSA) said institutions should look for future notices that will provide institutions with more information about system, web, and software modifications that will reflect the revised schedules, including updates to the Common Origination and Disbursement (COD) system.
FSA previously advised institutions, if able, to refrain from submitting Pell Grant records to the COD system until after the revised schedules have been implemented in the COD system.
Publication Date: 3/24/2022