Agnes Collier, 17, lost the use of her legs and most of the function in her arms when her family's motor was hit by a lorry.
Her payout, approved by London's High Court, is believed to be the highest for personal injury, smashing the previous record of 12.2 million pounds, The Sun reported.
Agnes was maimed in the 2009 accident in Gloucestershire that left her brother Rufus with a serious head injury and killed her mum Karen Hood, 48.
Anthony Norton, who caused the crash when he pulled out of a side road, was jailed six months and banned from driving for 18 months.
William Norris, representing Cheltenham Ladies College pupil Agnes, told Justice MacDuff that she was a "truly remarkable young lady" and a very bright girl who had done astonishingly well in returning to school and taking her AS-levels.
Agnes is set on having a career and has already secured an offer from a university despite crushing tiredness and having to use a scribe.
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"Her determination is extraordinary, but she has been blessed with a family who are thoroughly supportive," Norris said.
Ben Browne, for Norton's insurer, said of the award: "While it is a lot of money, Agnes's needs are great and she needs those for the rest of her life."