Looming $2.7 billion Pell Grant shortfall poses a new threat for college aid
College advocates breathed a sigh of relief when the U.S.
College advocates breathed a sigh of relief when the U.S. Department of Education said the Trump Administration’s “federal funding freeze” would not affect federal Pell Grants and student loans.
Nearly 75% of all undergraduates receive some type of financial aid, according to the National Center for Education Statistics. About 40% of college students rely on Pell Grants, a type of federal aid available to low-income families who demonstrate financial need on the Free Application for Federal Student Aid application.
For these students and their families, this aid is crucial for college access.
However, there’s a problem brewing.
The Congressional Budget Office in January released new supplemental projections for the Pell Grant program, which now estimate a $2.7 billion funding shortfall for the 2025 fiscal year.
https://www.nbcnews.com/news/education/pell-grant-shortfall-college-aid-rcna191332
Rating: 5