A Pell grant, the most popular grant, is awarded to undergraduate students who have not yet earned a bachelor’s or professional degree. The Pell grant can be used in conjunction with other forms of financial aid as well. The maximum amount of the grant changes from year to year, and most recently was $5,500. It is dependent upon your financial need, the costs associated with attending your school, whether you are a full- or part-time student, and whether or not you plan on attending the school for the full academic year. You may receive up to two Pell grants in a single academic year for up to 18 semesters.