Bush 2008 Budget Seeks Boost In Pell Grants February 2, 2007Posted by notapundit in US News, White House.
RALEIGH, N.C. (AP)–President George W. Bush’s 2008 budget will call for the largest Pell grant increase in three decades, a boost that would exceed one passed by the House this week, Education Secretary Margaret Spellings said Thursday.
Pell grants go to low-income students and do not have to be paid back. They’re awarded to more than 5 million students a year.
The Bush administration is proposing to increase the maximum Pell grant by $550 next year, to a maximum of $4,600. The top grant would climb to $5,400 over five years.
The current maximum Pell grant is $4,050. The House passed a spending bill Wednesday to boost that to $4,310. The Senate is expected to go along with that increase.
Democrats have said they want to raise the award even more in the near future, and have said $5,100 is a possible target.
The maximum Pell grant award hasn’t gone up in five years.
Increasing the top award was a key recommendation of a commission that Spellings tasked with looking at the future of higher education, including ways to make it more affordable to low-income students.
Spellings made the announcement in remarks prepared for delivery at an education conference in Raleigh. The president’s budget proposals are due out Monday.