Federal funding for Pell Grants — the most substantial financial aid program for college students — will remain intact through March 4 under a measure passed by Congress last week, staying worries among Georgetown administrators that a stopgap financing bill would expire.
The measure increases federal funding for 2011 by $1.16 billion and maintains the maximum Pell Grant money awarded at the 2010 level, according to a U.S. Senate Committee on Appropriations press release.
The continuation of Pell Grant awards at current levels resolves a predicted $5.7 billion shortfall in aid and preserves the $5,550 maximum award for the 2011-2012 academic year. The forecasted gap was primarily due to an increase of 1 million in the number of applicants for the grants during the recent recession.
Pell Grants are a form of federal financial aid available to students from low- and middle-income families. Eligibility is influenced by expected family contribution, tuition for the secondary institution, enrollment status and duration of attendance.
The inclusion of sustained Pell Grant funding in the continuing resolution was a priority for the White House and colleges and universities nationwide, including Georgetown.
Read the full story at the Georgetown Hoya.
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