FOR IMMEDIATE RELEASE
Contact: Allie Arcese
WASHINGTON, DC, February 3, 2022 — Congressional Democrats recently unveiled new legislation that would seek to ensure that federal resources keep up with changing economic trends by restoring the automatic annual inflation adjustment to the Federal Pell Grant program. The bill, referred to as the Pell Grant Sustainability Act, was introduced by Reps. Sean Casten (D-Ill.) and Susie Lee (D-Nev.), who both argue that the value of the Pell Grant needs to cover the rising costs associated with higher education.
“The time has come for Congress to make a substantial investment in the Pell Grant program,” said Karen McCarthy, NASFAA’s Vice President of Public Policy and Federal Relations. “The current maximum is increasingly insufficient to move the needle on college access, leaving low-income students to borrow high amounts or, worse yet, not attend postsecondary education at all. Restoring the automatic annual inflation adjustment, which expired after the 2017-18 award year, is a welcome step forward in ensuring our nation's lowest-income students have the opportunity to afford a higher education.”
The National Association of Student Financial Aid Administrators (NASFAA) provides professional development for financial aid administrators; advocates for public policies that increase student access and success; serves as a forum on student financial aid issues; and is committed to diversity throughout all activities. NASFAA’s membership includes 22,000 student financial assistance professionals at approximately 3,000 colleges, universities, and career schools across the country. NASFAA member institutions serve nine out of every 10 undergraduates in the U.S.
Publication Date: 2/3/2022