FOR IMMEDIATE RELEASE
Contact: Erin Powers
Director of Marketing & Communications
WASHINGTON, DC, April 28, 2021 — The Biden administration this morning rolled out the American Families Plan, an initiative that aims to “grow the middle class, expand the benefits of economic growth to all Americans, and leave the United States more competitive.” Among other things, the plan includes an $85 billion investment to increase maximum federal Pell Grant awards by $1,400 for our nation’s lowest-income students.
“President Biden is championing an investment that acknowledges postsecondary education is a critical component of our economic recovery and competitiveness,” said Justin Draeger, president of the National Association of Student Financial Aid Administrators. “We welcome the proposed down payment on doubling the Pell Grant. This movement is long overdue. We’ll be putting all of our effort into working with the administration and Congress to iron out details and make these proposed new investments a reality.”
* * *
This new bill comes out as NASFAA last month joined a coalition of more than 1,000 higher education organizations and institutions on a letter sent to members of Congress arguing that this long overdue investment will drive economic recovery, help address racial and economic inequities in college completion rates, and increase overall educational attainment.
“Students from low- and moderate-income families are in critical need of additional grant aid to pay for college,” the letter read. “Doubling the maximum Pell Grant — and permanently indexing the grant to inflation to ensure its value doesn’t diminish over time — will boost college enrollment, improve graduation rates, and honor the history and value of these grants as the keystone federal investment in college affordability.”
NASFAA will continue to press forward in efforts urging Congress to double the maximum Pell Grant and, in turn, support the postsecondary access and success of millions of students across the country.
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: 4/28/2021