Student-Aid-Funding Bill Would Contribute to $4,925 Maximum Pell Grant

Student-aid-funding provisions in an appropriations measure approved by the U.S. Congress would contribute to a $615 increase in the maximum Pell Grant for the 2008-2009 award year. The compromise spending bill cleared the House by a vote of 274 to 141 and the Senate on a vote of 56 to 37.

The measure includes a total of just over $15 billion for Pell Grants, providing discretionary funding to support a $4,435 maximum Pell Grant. Adding that funding to the mandatory funding included in the College Cost Reduction and Access Act will take the maximum Pell Grant to $4,925.

The measure also would maintain 2008 funding at 2007 levels for the following federal student-assistance programs:

• Supplemental Educational Opportunity Grants at $771 million.
• Federal Perkins-loan cancellation at $66.5 million.
• Leveraging Educational Assistance Partnership at $65 million.

The measure provides modest funding increases in the following programs:

• Federal Work-Study at $980.5 million.
• Federal TRIO programs at $858.2 million.
• GEAR UP at $318 million.

The student-aid provisions are included in a larger appropriations bill including funding for the Departments of Labor, Health and Human Services and Education.

President Bush has promised to veto the bill because “it includes an irresponsible and excessive level of spending.”