Modest gains for Pell Grant: an increase in the grant amount will give more money to those eligible.At the close of 2004, Congress passed an eleventh-hour change to the Pell Grant The Pell Grant program is a type of post-secondary, educational federal grant program sponsored by the U.S. Department of Education. It is named after U.S. Senator Claiborne Pell and originally known as the the Basic Educational Opportunity Grant program. funding formula. Specifically, lawmakers gave the OK to update the state tax tables that help define the tower-income students who are eligible to receive Pell Grants. The widely reported result is that an estimated 90,000 students will no longer be eligible to receive Pell Grants and another 1.3 million will receive $100 to $300 less. Such cuts were necessary to make up for a budget shortfall Shortfall The amount by which the capital required to fulfill a financial obligation exceeds available capital. Notes: Shortfall risk is often combated with an efficient hedging strategy created by a fund, group, institution, or individual. in the Pell Grant program, legislators said. Still, President Bush, who supported the changes, has countered his critics by pointing out that the total budget allocation for Pell in the fiscal 2005-06 year is a record $12.4 billion. A total 5 million low-income students will receive Pell Grants this year. And white fewer students will be getting grants, those still in the program have a chance to receive more money. In a January speech from Florida Community College at Jacksonville The Florida Community College at Jacksonville (FCCJ) is located in Jacksonville, Florida, USA. It has five campuses in the Jacksonville area, and five additional centers which host classes and programs for students. , Bush promised to increase the maximum Pell award by $100 each year for the next five years. The current $4,150 maximum award will climb to $4,550 by 2010. In addition, Bush wants to expand loan forgiveness Forgiveness Angelica, Suor is forgiven by the Virgin Mary for ill-considered suicide. [Ital. Opera: Puccini, Suor Angelica, Westerman, 364] Bishop of Digne to students who teach math, science, and special education. The increase is a move in the right direction, says Rep. George Miller George Miller may refer to:
In his remarks, Bush also hinted at a coming shakeup shake·up n. A thorough, often drastic reorganization, as of the personnel in a business or government. Noun 1. shakeup of financial aid programs. Without giving details, Bush added that he intends to ask Congress to reform the student loan program to make it more efficient. Pell Grant 2005 Maximum Grant Maximum Grant $4,150 $4,550 The Pell Grant program provides a total of $12.4 billion to more than 5 million undergraduate students. They currently receive grants that range from $400 to $4,150. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion