Report Decries Decline in Pell Grant Purchasing Power
March 23, 2005
Federal Pell grants have not maintained their purchasing power and are on track to cover only 25 percent of the total price of attending college by 2010, according to a report by the Center for American Progress. The examination of Pell grants was part of a larger review of access to postsecondary education by low-income students and the equality of college affordability across the states.
The purchasing power of Pell grants would have to be more than doubled to bring the Pell back to the point of the program’s initiation in 1972, even when President Bush’s proposal to increase the maximum award by $500 over the next five years is factored in.
As the gap between the price of college and the Pell grant grows, students will be required to take on additional loans, making the president’s proposal to eliminate the Perkins Loan program even more glaring, according to the report.
The Center for American Progress is a Washington-based policy group run by former Clinton chief of staff John Podesta.
- Program Integrity Rulemaking to Be Delayed
- Associations Respond to McCaskill Sexual Assault Legislation
- COFAR Releases Frequently Asked Questions on OMB's Super Circular
- 2014 Planning and Budgeting Forum
September 22-23, 2014
- 2014 Tax Forum
September 28-September 30, 2014
- 2014 Global Operations Forum
September 30-October 1, 2014
- 2014 Intermediate Accounting and Reporting - Fall
October 13-14, 2014
- ON-DEMAND: Strategic Tuition Assessment and Tuition Restructuring
- ON-DEMAND: Are Shared Services Right for Your Organization – The KU Journey
- ON-DEMAND: VIRTUAL: 2014 Annual Meeting
- ON-DEMAND: FASB's Proposed NFP Reporting Changes
- ON-DEMAND: VIRTUAL: Student Financial Services Conference
- ON-DEMAND: VIRTUAL: Higher Education Accounting Forum
- ON-DEMAND: VIRTUAL: Global Operations Support and Compliance Forum
- A Guide to College and University Budgeting: Foundations for Institutional Effectiveness, 4th ed. - by Larry Goldstein
- NACUBO's Guide to Unitizing Investment Pools - by Mary S. Wheeler
- Managing and Collecting Student Accounts and Loans - by David R. Glezerman and Dennis DeSantis