Maximum period
(A) In general Except as provided in subparagraph (B), the period during which a student may receive Federal Pell Grants shall not exceed 12 semesters, or the equivalent of 12 semesters, as determined by the Secretary by regulation. Such regulations shall provide, with respect to a student who received a Federal Pell Grant for a term but was enrolled at a fraction of full time, that only that same fraction of such semester or equivalent shall count towards such duration limits.
(B) Exception (i) In general Any Federal Pell Grant that a student received during a period described in subclause (I) or (II) of clause (ii) shall not count towards the student’s duration limits under this paragraph. (ii) Applicable periods Clause (i) shall apply with respect to any Federal Pell Grant awarded to a student to enroll in an eligible program at an institution— (I) during a period of a student’s attendance at an institution— (aa) at which the student was unable to complete a course of study due to the closing of the institution; or (bb) for which the student was falsely certified as eligible for Federal aid under this subchapter; or (II) during a period— (aa) for which the student received a loan under this subchapter; and (bb) for which the loan described in item (aa) is discharged under— (AA) section 1087(c)(1) of this title or section 1087dd(g)(1) of this title ; (BB) section 1082(a)(6) of this title ; or (CC) section 1087e(h) of this title due to the student’s successful assertion of a defense to repayment of the loan, including defenses provided to any applicable groups of students.