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*For the 2024-25 award year (July 1, 2024, to June 30, 2025), the Federal Pell Grant is an annual award up to $7,395 and is typically awarded only to undergraduate students who display exceptional financial need and have not earned a bachelor’s, graduate, or professional degree. Certain eligibility restrictions may apply. A Federal Pell Grant, unlike a loan, does not have to be repaid, except under certain circumstances. Source: https://studentaid.gov/understand-aid/types/grants/pell