Ellucian Banner Users:
On December 29, 2022, the President signed the Consolidated Appropriations Act, 2023, which included a $500 increase to the maximum Pell Grant. The maximum Pell Grant award for the 2023-2024 award year is $7,395, and the corresponding maximum Pell Grant eligible expected family contribution (EFC) is 6656.
Many software providers have been working diligently to provide patches and regulatory updates as soon as possible. We are happy to announce that Ellucian released on February 18, 2023, the 2023-2024 Federal Pell Grant patch referenced as pcr-0005459_res8430204. This update contains the new Federal Pell Grant amounts approved by Congress.
Readers can find more information about the federal update by reviewing update (GEN-23-02) 2023-2024 Federal Pell Grant Payment and Disbursement Schedules here. This is great news for many students and continues keeping higher education affordable.