Feingold Leads Effort to Increase Funding for Pell Grants Senator Discusses Need to Make Higher Education Affordable During Local Listening Session at Iowa-Grant High School May 27, 2003 Livingston, WI - U.S. Senator Russ Feingold today discussed an effort he has undertaken to double Pell Grant funding by 2010. Feingold also announced plans to lead a campaign to fund Pell Grants during the upcoming re-authorization of the Higher Education Act. Feingold's effort has been endorsed by the Student Aid Alliance, a coalition of organizations representing students, parents, colleges and universities, and others who believe that all qualified students should be able to go to college regardless of their financial resources. “Pell Grants are the cornerstone of many students' financial aid packages here in Wisconsin and around the country,” Feingold said. “Without Pell Grants, many individuals simply can't consider college - and without a college degree or serious post-secondary training, they won't be considered for more and more jobs.” The average Pell Grant is now worth about 70 percent of its value in 1975. In addition, 20 years ago, grant aid constituted approximately 52 percent of a student's aid package while loans constituted only 42 percent. Today, this ratio has reversed itself - loans now constitute almost 60 percent of total aid and the proportion of aid provided in the form of grants has plummeted to about 40 percent. “We have made progress during the last four years in restoring some of the purchasing power of the Pell Grant program, but the job's not done,” Feingold said. “Funding for education is one of the most important investments that we can make. A better-educated workforce will lead to a more skilled workforce, higher productivity, and a better economy.” Feingold held his 33rd Listening Session of 2003, and his 753rd since he was first elected, at the Iowa-Grant High School starting at 8:15 a.m. This is Feingold’s eleventh year of holding Listening Sessions in every county.

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