According to the Borough of Manhattan Community College (BMCC) website, in order to be eligible for a Pell grant, you must hold a high school diploma or GED, to have been home-schooled or to have passed an approved "ability to benefit" test. You must already be enrolled in a school to obtain a degree and be a U.S. citizen or permanent resident. Another general requirement for recipients is a valid Social Security number, satisfactory academic process and, if you're a male between 18 and 25 years of age, having registered with the U.S. Selective Service.
The SallieMae website states that there is no minimum grade point average or other academic requirement to qualify for a Pell. However, you must maintain a satisfactory academic record or you can lose your grant. To remain eligible, you must have achieved after two years of enrollment a grade point average of at least a "C" or an academic standing consistent with the school's graduation requirements. Students are not eligible for a Pell grant if they attempt to sign up for more than 150% of the credits required for the particular degree. For example, you cannot take more than 90 credits while receiving a Pell grant for a degree that requires 60 credits for graduation. Pell grant administrators require that each academic record be reviewed by the school at the end of each spring semester to ensure the student meets the eligibility requirements.
Pell grant amounts vary from year to year according to how much the federal government allocates for the program and the amount of eligible applicants.Pell grant amounts for a single full-time student during the 2010 to 2011 school year maxed out at $2,775 per semester.