Federal Pell Grants
By: Federal Grant News
Federal Pell Grants are in the News for 2006 and the news is great! Federal grants for college are free educational grants that never have to be repaid. In 2006, the Department of Education will administer almost $80 billion in grants, loans, and work-study assistance. These will help students pay for postsecondary education, including $62 billion in guaranteed and direct student loans and $13.7 billion in for a Government Pell Grant.
To achieve that goal, the President's 2006 request for Student Financial Assistance includes a comprehensive set of proposals.
Reauthorizing the Higher Education Act (HEA), increasing aid to students while improving the effectiveness grants and student loan programs.
The Government Pell Grant help millions of Americans obtain the benefits of college, higher education costs can be offset by Federal Pell Grants for the crucial role advanced training plays in today's global economy require an even greater investment, especially in Federal grants for college to low-income students. $33 million for a new Enhanced Pell Grants for State Scholars program, which would provide up to an additional $1,000 to an estimated 36,000 students completing the rigorous State Scholars curriculum in high school. $50 million for a new Presidential Math-Science Scholars program, under which the Department of Education would enter into a public-private partnership to award $100 million annually in grants to low-income math and science students. Approximately 20,000 low-income students who receive Government Pell Grant would receive these separate, additional awards of up to $5,000 each. Substantially increase the amount of Work-Study funds used for community service while making participation voluntary for institutions. The current 7-percent community service requirement would be replaced by a separate set-aside equal to 20 percent of the Work-Study appropriation. Retire the $4.3 billion Government Pell Grant shortfall while increasing the maximum Pell award by $100 annually over the next five years, from $4,050 to $4,550. In 2006, the program would provide a record $13.7 billion in grants to 5.5 million low-income postsecondary students. These proposals would be funded through a combination of mandatory savings and programmatic changes. Federal Pell Grants can not be beat! Higher loan limits, lower interest rates, and more flexible and lower-cost repayment options for students would result from a package of comprehensive student loan reforms proposed as part of the upcoming reauthorization of the Higher Education Act. These reforms would make the student loan programs more efficient, cost-effective vehicles for helping students finance their postsecondary educations, in part through reductions in loan subsidies to financial participants in the Federal Family Education Loans Program. $11 million for a new Loans for Short-Term Training program, jointly administered by the Departments of Education and Labor, to help dislocated, unemployed, transitioning, or older workers and students to acquire or upgrade specific job-related skills through short-term training programs that are not currently eligible for Federal student aid. To receive your Government Pell Grant only takes a few minuets of paperwork online or at your school. Federal grants for college should be your first choice when it comes to paying for school. Federal Pell Grants are an automatic first stop.
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