FOR IMMEDIATE RELEASE
Contact: Allie Arcese
WASHINGTON, D.C., MARCH 11, 2022 — Members of Congress took steps this week to advance the fiscal year 2022 spending bill, which among other things allocates $24.6 billion for federal student aid programs, including a $400 increase to the maximum Pell Grant award, bringing the total to $6,895 for the 2022-23 award year. According to congressional leaders this allocation serves as the largest increase in the maximum award in more than a decade.
"It is a relief to see lawmakers come to a compromise on the federal budget, which will allow the Department of Education to release updated Pell Grant schedules and in turn give financial aid offices the information they need to deliver timely information on aid to students. It is also encouraging to see Congress commit to increasing funding for this indispensable student aid program, which helps millions of students each year access postsecondary education. Still, we continue to urge lawmakers to work toward doubling the maximum Pell Grant, restore its purchasing power for low- and moderate-income students, and make up for decades of deferred investment."
The National Association of Student Financial Aid Administrators (NASFAA) is a nonprofit membership organization that represents more than 32,000 financial aid 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. Based in Washington, DC, NASFAA is the only national association with a primary focus on student aid legislation, regulatory analysis, and training for financial aid administrators. For more information, visit www.nasfaa.org.
Publication Date: 3/11/2022