1 / 13

Discussion of the Pell Grant June 18, 2013 Kim Cook, NCAN

Discussion of the Pell Grant June 18, 2013 Kim Cook, NCAN. What is the Pell Grant?. Federal grant based solely on financial need Foundation of federal financial aid program Single largest source of federal grant aid supporting postsecondary education students. History of the Pell Program.

macy
Download Presentation

Discussion of the Pell Grant June 18, 2013 Kim Cook, NCAN

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Discussion of the Pell GrantJune 18, 2013Kim Cook, NCAN

  2. What is the Pell Grant? • Federal grant based solely on financial need • Foundation of federal financial aid program • Single largest source of federal grant aid supporting postsecondary education students

  3. History of the Pell Program • Introduced in 1972 by Senator Claiborne Pell • Awarded to students with financial need on a slide scale based on their income • Over time eligibility and amount of grant have continued to vary

  4. Pell Grant: Eligibility and Profile • Full-time or part-time undergraduate student • Meets financial requirements: most recipients have an AGI under $50,000 annually. • 44% over age 24 and 25% over age 30 in 2010 • 60% considered independent

  5. Pell Grant Recipients:$5550 is current max award http://media.collegeboard.com/digitalServices/pdf/advocacy/policycenter/advocacy-rethinking-pell-grants-brief.pdf

  6. Purchasing Power of Pell http://krugman.blogs.nytimes.com/2012/03/12/building-a-caste-society/

  7. What’s an EFC? • Estimated Family Contribution • Students with lowest EFC ($0) receive most dollars and with highest receive least or none, based on a sliding scale • Families with AGI of $23,000 are automatically eligible for the full grant • Families with an EFC of $5082 or above are not eligible for a Pell Grant

  8. Recent Changes to the Pell Grant • Elimination of ability to receive additional Pell dollars for summer study • Decrease of automatic EFC from AGI $30,000 to $23,000 • Students are eligible for 12 semesters of aid (previously 18 semesters) • Students must have a high school diploma or GED to qualify http://studentaid.ed.gov/about/announcements/recent-changes

  9. Projections of Funding Shortfall • 2009: American Recovery and Relief Act • 2013: CBO finds Pell grant over funded with 9.2 billion surplus • Long term problem: Congress funds grant at same amount plus temporary $, must find long term funding plan or change eligibility or max. award http://edmoney.newamerica.net/blogposts/2013/new_pell_grant_estimates_buy_time_long_term_fix_still_needed-78890

  10. Motivation for Changes: Budget or Effectiveness? • Previous slide shows changes based on budget necessity • Must consider how to make program most effective, not just make budget numbers work

  11. NCAN Recommendations • Pell must remain a priority for our students • Congress should examine federal education taxes, which are not well used to serve low-income students • Additional Pell grant dollars should be available for students to study year round • Federal government should track Pell graduation rates by institution

  12. What Can You Do? • Make sure you students fill out the FAFSA • View the completion percentage here: http://studentaid.ed.gov/about/data-center/student/application-volume/fafsa-completion-high-school • Provide feedback to the Department of Education through Affinity Group

  13. Questions and Contact Information • Kim Cook • Executive Director • National College Access Network • 202-347-4848 • cook@collegeaccess.org

More Related