"College students could see their Pell Grant award go up by as much as $400 for the coming academic year, thanks to the federal spending bill signed into law March 15," NerdWallet reports.
..."Pell-eligible students who have already received financial aid award letters for the 2022-23 academic year will likely be sent revised letters, according to Karen McCarthy, the vice president of public policy and federal relations for the National Association of Student Financial Aid Administrators, or NASFAA. The increase will be reflected in any financial aid award letters that haven’t been sent yet.
The boost in funding will affect more than just the students receiving the maximum Pell Grant. The law expands eligibility and increases award amounts, according to McCarthy.
The federal budget also includes an increase in funding for the federal work-study program. Students could see higher award amounts, and more students could become eligible for work-study, but these changes are not guaranteed, according to McCarthy."
NASFAA's "Notable Headlines" section highlights media coverage of financial aid to help members stay up to date with the latest news. Articles included under the notable headlines section are not written by NASFAA, but rather by external sources. Inclusion in Today's News does not imply endorsement of the material or guarantee the accuracy of information presented.
Publication Date: 3/18/2022