How Will The $2.7 Billion Pell Grant Funding Gap Impact Students?
“In January, the Congressional Budget Office released projections showing that the Pell grant program is expecting to face a $2.7 billion shortfall in funding for the 2025 fiscal year. The program will need additional funding and will need an increase in funding, or students will face cuts to eligibility criteria or grant amounts.
The Pell grant program is the primary federal higher education program, providing grants of up to $7,395 a year to more than seven million low- and moderate-income students annually, to help these student pay for college. Cuts to the program would likely put college out of reach for many more low-income students. The maximum award amount already only covers 31% of tuition, fees, room and meals at the average public four-year college, compared to the 79% of those costs the grant covered in 1975.”
Read more at Forbes.