Grants Pell Grant The Federal Pell Grant Program is a grant program available only to undergraduate degree-seeking students. Qualification is determined by FAFSA and registered credits. Federal Pell Grants are available to students registered for 1-12 credits or more with an annual maximum award of $4050. Payments are made each term based on the number of credits for which you are registered. If you are registered for less than 12 credits, your Federal Pell Grant will be prorated. Pell Grant payments are applied to the student tuition account half-way through the semester. Adding/dropping of classes after the Pell Grant is applied, may adversely affect Pell Grant eligibility. Minnesota State Grant The Minnesota State Grant is funded by the State of Minnesota and only undergraduate Minnesota residents are eligible. Your eligibility is determined by the financial aid office at Saint Mary’s University of Minnesota. Minnesota State Grant payments are applied to the student tuition account half-way through the semester.