Formula	4	Summary
Clock-hour	programs	and	credit-hour	programs	without	terms,	residential	portion	of	non-term	correspondence	programs.
Full-time,	full	academic	year	costs.
Cost	for	program	or	period	not	equal	to	academic	year	prorated.	Two	fractions	are	compared:
Hours	in	program9s	definition	of	academic	year	÷	Hours	to	which	the	costs	apply
Weeks	of	instructional	time	in	program9s	definition	of	academic	year	÷	Weeks	of	instructional	time	in	the
enrollment	period	to	which	the	costs	apply
The	entire	cost	is	multiplied	by	the	lesser	of	the	two	fractions	to	determine	Pell	COA.
Step	3:	Determine	Annual	Award
If	the	student9s	enrollment	intensity	is	full	time,	the	annual	award	is	the	Scheduled	Award.	If	the	student9s
enrollment	intensity	is	less	than	100%,	the	annual	award	is	the	Scheduled	Award	multiplied	by	the	enrollment
intensity	percentage.
Step	4:	Determine	Payment	Periods
Payment	period	is	the	academic	term.
Step	5:	Calculate	Payment	for	a	Payment	Period
[(Annual	award	x	Weeks	of	instructional	time	in	the	term)	÷	Weeks	of	instructional	time	in	the	program9s
academic	year	definition]
Note:	A	single	disbursement	can9t	exceed	50%	of	the	annual	award.
Step	1:	Determine	Enrollment	Intensity
At	least	half-time	or	less-than-half-time.
Step	2:	Calculate	Pell	COA
Full-time,	full	academic	year	costs.
Cost	for	program	or	period	not	equal	to	academic	year	prorated.	Two	fractions	compared:
Hours	in	program9s	definition	of	academic	year	÷	Hours	to	which	the	costs	apply
Weeks	of	instructional	time	in	program9s	definition	of	academic	year	÷	Weeks	of	instructional	time	in	the
enrollment	period	to	which	the	costs	apply
The	entire	cost	is	multiplied	by	the	lesser	of	the	two	fractions	to	determine	Pell	COA.
Step	3:	Determine	Annual	Award
Always	equal	to	Scheduled	Award.	Does	not	mean	students	are	always	considered	full-time.
Step	4:	Determine	Payment	Periods
Length	of	payment	period	measured	in	credit	or	clock	hours	and	weeks	of	instructional	time.	Minimum	of	two
equal	payment	periods	required	for	programs	shorter	than	an	academic	year,	or	two	equal	payment	periods	in
each	full	academic	year	(or	final	portion	longer	than	half	an	academic	year)	for	programs	longer	than	or	equal	to
an	academic	year.
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