Word: pelled
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These changes, alongside a $619 increase in the maximum Pell Grant and a reduction in the interest rate on new federal loans, arrive at a moment of seemingly runaway college costs on one end and a dismal economic outlook on the other. The Obama Administration is trying to lessen the pressure on aspiring students in ways both big and small. Last week, Secretary of Education Arne Duncan announced a plan to simplify the Free Application for Student Aid (FAFSA) - the form to apply for federal dollars - cutting at least 20% of the questions and making it easier to fill...
...student's financial need has grown enough, federal funding may also kick in. Sweet Briar's Carpenter recalls one student whose family income was $250,000 when she applied and had dropped to $50,000 by the time she was admitted this spring. She is now eligible for federal Pell grants, which were increased to $4,860 per student this year under the economic stimulus package passed in February...
...financial reasons," Duderstadt says. "But that means we can't provide help for students from out-of-state. So the economic distribution for them is significantly different from those in-state." One fairly reliable measure of the economic diversity of a campus is the percentage of students who receive Pell Grants. Roughly 30% of the undergraduates at UCLA or UC-Berkeley are Pell Grant recipients. At Michigan, by contrast, that number is only around...
...mostly from the endowment and other private sources, with only around five percent coming from the federal government, according to Fitzsimmons. The increase in applications is concurrent with additional education funding from the $787 billion American Recovery and Reinvestment Act. The ARRA will provide an additional $17 billion for Pell Grants in fiscal years 2009 and 2010; funding for the current fiscal year is $16.2 billion, with 6.1 million students participating. The stimulus package is also providing nearly $14 billion in tuition tax credits for middle-class families, raising the current cut from...
EDUCATION $46.7 billion, a 1% increase. Calls for cuts in subsidies to banks that provide student loans and an increase in government Pell grants for college students...