It depends on your income and assets, as well as household size and cost of the school. You will fill out the 2010-2011 fafsa application using your tax information from 2009. The maximum Pell grant you can receive is currently $5,350 for the year. As an independent student, you are eligible for a maximum of $9,500/year during your freshman year. However, you will not receive an awards package that's greater than your school's cost of attendance. So, even though you may be eligible for up to almost $16,000 for the year; if your school's cost of attendance is only $9,000 for the year then that is all you will receive. Financial aid is disbursed to the school twice a year for semester-based schools, or 3 times a year if the school is on quarters. After all tuition, fees, books, etc are paid, then any refund will be disbursed to you via a check (usually 4-6 weeks after the start of a semester).
