Federal Pell Grant Program Eligibility for a Pell Grant is based on the Expected Family Contribution that is calculated from the information provided on the Free Application for Federal Student Aid (FAFSA). The Central Processor sends the student a Student Aid Report in response to the submission of a FAFSA. The Expected Family Contribution is listed on the Student Aid Report if the FAFSA was properly completely. A Federal Pell Grant, unlike a loan, does not have to be repaid. Pell Grants are restricted to students pursuing their first undergraduate degree and are prorated if a student is enrolled for fewer than 12 credits each semester. A student may not receive a Pell Grant from more than one college for the same period of time. Funding for the Pell Grant program is subject to congressional appropriations. Therefore, the range of specific award amounts may change each academic year.