News

Tyler Kingcade, February 10, 2016

President Barack Obama would be tied to one of the nation’s main college financial programs long after he leaves office if Congress approves a request in his last budget proposal.

In Tuesday’s funding request, Obama asked Congress to permanently tie Pell Grant awards to inflation. Pell Grants are given to low-income college students, and unlike student loans, do not need to be paid back. It’s potentially the last effort by Obama to boost Pell Grants, which during his presidency fell to a historic low in the proportion of cost of attendance they covered.

Pell Grants have been tied to inflation since 2013, but that provision expires after 2017. Obama wants to index the Pell Grant to inflation indefinitely with mandatory funding, which the administration anticipates will cost $33 billion over 10 years.

Read the full article at Huffington Post.