“To increase the total maximum Federal Pell Grant, and for other purposes.”
No CRS summary available for this bill.
This section revises the formula for the total maximum Federal Pell Grant award per student for award years beginning on or after July 1, 2026, by amending section 401(b)(5)(A) of the Higher Education Act of 1965. (1) For award years 2026–2027 and 2027–2028, it sets the amount to $14,800, reduced by the amount specified as the maximum Federal Pell Grant in the last enacted appropriation act applicable to that award year. (2) For award year 2028–2029 and subsequent award years, it sets the amount to $14,800 increased by the annual adjustment percentage, reduced by the amount specified as the maximum Federal Pell Grant in the applicable last enacted appropriation act. The section also defines annual adjustment percentage in section 401(a)(2)(G) as the estimated percentage change in the Consumer Price Index (using the definition in section 478(f)) for the most recent calendar year ending prior to the award year.