Great news about Pell grants:Congress has come to an agreement on federal spending through September 30th. This bill, which was negotiated by House Republicans and Senate Democrats, is also supported by the White House. It creates the specific categories of spending that add up to the budget numbers agreed upon in December. There are several important items of note for our students and work: Pell Grant Increases: The Pell Grant for academic year 2014-15 will increase to $5730. The program is also fully funded. Pell Grant Recipient Graduation Rates: The Department of Education will now be required to collect Pell grant recipient graduation rates by institution and release the data to the public by reporting it to Congress. Students, and advisors, will now be able to know how well an institution serves low-income students. While this is great news, the full effect will take a few years to kick in as the first full six-year graduation numbers won’t be available until 2019. First in the World: The President’s First in the World grant was funded at $75 million. This will provide grants to institutions of higher education to deliver tested methods of increasing affordability and improving outcomes for low-income students. We don’t anticipate that non-profits will be eligible for this grant, but it will provide funding for colleges and universities to better serve our student population. It may also be an opportunity for college access programs to partner with colleges and universities. FAFSA Changes: With a small change to the FAFSA, foster care youth can now check a box on the form to identify as a foster care student. Doing so will supply them with additional information about possible funding programs for which they may qualify. Higher Ed Well Funded All Around: TRIO, GEAR UP, Federal Work Study, Supplemental Education Opportunity Grants, and Minority Serving Institutions will all receive an increase in funding. Overall, the FY14 budget shows an increase to education spending. The total amount is just below the funding for FY12 and well above the FY13 spending. collegeaccess.org/PressRoomDetails?dg=dae7efd6341542fabc1107add5fba279
Posted on: Thu, 23 Jan 2014 17:42:53 +0000
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