What this means is that you may receive up to 2 full Pell grant awards within a 12 month period. Few students would be able to do that, but it is possible. For some, though, getting 1.5 awards is certainly a good possibility.
The regulations have just been sent out & I haven't had a chance to go through everything, but: Student eligible for a Pell grant of $4000. That means student can receive $2000 fall, $2000 winter. Let's say student takes a full time course load each semester & doesn't withdraw from any classes. Student has received her full Pell grant award. In the past, she wouldn't get any Pell for summer classes.
Now let's say that student takes summer classes this year. She can now receive Pell for those classes ... IF she takes at least a half time course load.
The fly in the ointment is that students have to complete at least a full time load of courses over the course of the time during which they receive their first 100% award in order to receive the second award - meaning that we would have to monitor for withdrawals. In the example above, say the student withdrew from some of her 24 credits at some point during those terms. She enrolled in & paid for 24 credits during the year, but she only completed 16 credits. In this case, she can receive her extra Pell payment in the summer term, but if she drops below 8 credits, she loses the whole payment. This is one I am still trying to wrap my mind around.
Students could receive 2 full Pell awards by going to school in the summer, fall, winter, and spring in an award year.
The new regs just came out last week, and federal training will happen in the next couple weeks. I will update as I find things out.