During the summer of 2011, the Pell Grant program was facing an $18.3 billion shortfall over the next two academic years. Congress opted to infuse the program with $17 billion during the debt ceiling negotiations, leaving a more manageable $1.3 billion shortfall for academic year (AY) 2012-2013. In order to maintain the $5,550 maximum and address the $1.3 billion shortfall for AY 2012-2013, Congress implemented four changes to Pell Grant eligibility in the final fiscal year (FY) 2012 omnibus funding package: (1) elimination of ability-to-benefit students; (2) changes to income levels for zero expected family contribution (EFC); (3) elimination of students receiving 10% of the maximum award; and (4) reduction in the maximum number of semesters. This fact sheet provides details on these changes, along with the potential impact of the changes on students.