Changes to the Pell Grant?
First, what is the Pell Grant? The Federal Pell Grant Program provides grants to low-income students looking to pursue a bachelor’s degree or postsecondary education. It is dependent on certain criteria, including the student’s financial situation, the tuition cost for the chosen college, the size of the student’s family, and whether or not the student is attending part or fulltime. It is easy to apply for a Pell Grant and there is no application fee. And unlike a student loan, a grant does not have to be repaid.
Initially, the American Recovery and Reinvestment Act that is currently being debated in the Senate proposed to increase the federal funding for the Pell Grant program. Unfortunately, that particular aspect of the stimulus bill has been under fire from lawmakers seeking to trim spending. On Wednesday, February 12, 2009, however, it was announced that House and Senate negotiators had come to an agreement regarding the bill. The Senate approved an extra $13.9 billion for Pell to cover a program shortfall and the increase to the Federal Pell Grant program is expected to survive.
To the individual student, the prospective change would translate into a $400 increase. This moves the maximum Pell Grant from $4850 to $5250. Some lawmakers hoped for an increase of $500, but instead it was lowered to a $400 increase. President Obama has said that he hopes for the bill to be signed into law by President’s Day, which is Monday, February 16th.
I am an older adult who has re-entered college. I am looking for scholarships to start my MBA in Fiance and Communications. I am in a Baking program presently. My goal is to combine my edcational backgkround and go forward with educating others who are not aware of ow they should treat themselves and their money.
Laurene Bishop
want to apply for pell grants please. Thankyou
Angela,
You’ll want to get in touch with the financial aid department at your school for further direction. They should be able to help you with this process.