...
Pell Formula 1 Example: If the SAY program's academic year definition consists of 3 terms with an optional fourth Summer 'header', the annual scheduled Pell amount will be divided by 3 (the number of terms in the scheduled SAY) to get the amount for each term. If a student also has enrollment for the optional header term, a fourth term may still be eligible for Year-Round Pell from the same FAY using the same calculation (1/3 of the scheduled Pell award for the appropriate enrollment status). See See Year Round Pell (YRP or 150% Pell).
...