More students are taking advantage of the Pell Grant scholarship nationwide; the scholarship has become critical for students and families during these tough economic times.
The maximum Pell Grant was raised to a record $5,550 in 2010 due to the Student Aid and Fiscal Responsibility Act (SAFRA), authored by Chairman Miller and signed by President Obama in March. Not only has Miller worked to increase federal financial aid, he has made college loans more affordable – the College Cost Reduction and Access Act of 2007 has lowered interest rates on need-based student loans from 6.8 percent to the current 4.5 percent. The rates will drop again to 3.4 percent in July 2011.
Springfield, Ohio’s Springfield News-Sun wrote that the number of undergraduates relying on Pell Grants has increased:
The Herald Sun of Durham, North Carolina had similar news to report:
Tips for Applying for Federal Student Aid
The maximum Pell Grant was raised to a record $5,550 in 2010 due to the Student Aid and Fiscal Responsibility Act (SAFRA), authored by Chairman Miller and signed by President Obama in March. Not only has Miller worked to increase federal financial aid, he has made college loans more affordable – the College Cost Reduction and Access Act of 2007 has lowered interest rates on need-based student loans from 6.8 percent to the current 4.5 percent. The rates will drop again to 3.4 percent in July 2011.
Springfield, Ohio’s Springfield News-Sun wrote that the number of undergraduates relying on Pell Grants has increased:
“An increasing number of students locally and nationally have been receiving financial aid through the Federal Pell Grant Program.
“In Clark County, the recipients of the need-based grant increased more than 5,500 students between academic year 2008-2009 and 2009-2010, according to statistics from the U.S. Department of Education. In the same time period, the grant disbursement increased by $26.9 million.”
The Herald Sun of Durham, North Carolina had similar news to report:
“According to recent figures issued by the U.S. House Committee on Education and Labor, the number of Pell Grant recipients in North Carolina's 4th Congressional District rose 35 percent last year. The district, which includes all of Durham and Orange counties and parts of Wake and Chatham, had 27,471 students who qualified for the aid during the 2009-10 academic year, an increase of 7,145 over the year before.”
…
“Adding to the increase is that under a new student-loan bill signed by President Barack Obama in March, the Pell's Grant's eligibility criteria have changed, and that's made it a little easier to qualify than in the past, Ort and Rome both said.
“Equally important is that the Pell Grant is now authorized for summer school, for the first time.”
Tips for Applying for Federal Student Aid
