{"id":1783529,"date":"2022-12-22T06:08:16","date_gmt":"2022-12-22T11:08:16","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1783529"},"modified":"2022-12-22T06:48:35","modified_gmt":"2022-12-22T11:48:35","slug":"pell-grants-could-rise-to-7395-next-year","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/pell-grants-could-rise-to-7395-next-year\/","title":{"rendered":"Pell Grants Could Rise to $7,395 Next Year"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fpell-grants-could-rise-to-7395-next-year%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1783529&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"PageBuilder-col-full PageBuilder-col PageBuilder-article\">\n<div class=\"TopBanner-container\" data-top-banner-placeholder=\"true\"><\/div>\n<\/div>\n<div class=\"PageBuilder-col-full PageBuilder-col PageBuilder-article\">\n<\/div>\n<div class=\"PageBuilder-col-9 PageBuilder-col PageBuilder-article\">\n<div class=\"RenderKeyPoints-keyPoints\" id=\"RegularArticle-KeyPoints-4\" data-test=\"keyPoints-1\" data-analytics=\"RegularArticle-keyPoints-4-1\">\n<div class=\"RenderKeyPoints-wrapper\">\n<div class=\"RenderKeyPoints-list\">\n<div>\n<div class=\"group\">\n<ul>\n<li>As part of its massive $1.7 trillion spending package for 2023, Congress is planning to up the maximum annual Pell Grant award to $7,395 \u2014 a $500 increase.<\/li>\n<li>That&#8217;s the largest jump in a decade.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"ArticleBody-articleBody\" id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\">\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-107169636\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<div class=\"InlineImage-imageEmbedCredit\">Olelole | E+ | Getty Images<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>As part of its massive $1.7 trillion spending package for 2023, Congress is planning to up the maximum annual Pell Grant award to $7,395 \u2014 a $500 increase from this school year.<\/p>\n<p>If it passes, that would be the largest jump for the grant in <a href=\"https:\/\/educationdata.org\/pell-grant-statistics\" target=\"_blank\" rel=\"noopener\">more than a decade<\/a>.<\/p>\n<p>President <a href=\"https:\/\/www.cnbc.com\/joe-biden\/\">Joe Biden<\/a> had previously called to raise the Pell Grant by even more, to a maximum allotment of $8,670 in 2023, and has said he wants to <a href=\"https:\/\/www.chronicle.com\/article\/biden-wants-to-double-the-maximum-pell-grant-what-difference-would-that-make\" target=\"_blank\" rel=\"noopener\">see the payments double by 2029<\/a>.<\/p>\n<\/div>\n<div class=\"group\">\n<div id=\"RegularArticle-DataWrapperChart\" class=\"DataWrapperChart-dataWrapperContainer\"><\/div>\n<\/div>\n<div class=\"group\">\n<p><a href=\"https:\/\/www.cnbc.com\/2022\/11\/02\/pell-grants-can-make-college-more-affordable-what-you-need-to-know.html\">Pell Grants<\/a> are one of the biggest sources of financial aid available to college students, and more than <a href=\"https:\/\/crsreports.congress.gov\/product\/pdf\/R\/R45418\" target=\"_blank\" rel=\"noopener\">6 million<\/a> students received them in 2020.<\/p>\n<p>Each year, Congress decides how much to allocate to the maximum Pell Grant, and in some years it has reduced the payment.<\/p>\n<p>Here&#8217;s what to know about the assistance.<\/p>\n<\/div>\n<h2 class=\"ArticleBody-subtitle\">Pell Grants could be worth up to $7,395<\/h2>\n<div class=\"group\">\n<p>In the 2023-2024 academic year, Pell Grants could range from a minimum of about $740 to a maximum of $7,395, depending on how much a college calculates that a student&#8217;s family will be able to contribute to their college costs, said higher education expert Mark Kantrowitz.<\/p>\n<p>Currently, the most a student can get a year under the program is <a href=\"https:\/\/www2.ed.gov\/programs\/fpg\/index.html\" target=\"_blank\" rel=\"noopener\">$6,895<\/a>.<\/p>\n<p>In some cases, a student can receive more than the maximum aid for a single year if they&#8217;re in an accelerated degree program, Kantrowitz added.<\/p>\n<\/div>\n<h2 class=\"ArticleBody-subtitle\">Funds help undergrads from &#8216;low-income families&#8217;<\/h2>\n<h2 class=\"ArticleBody-subtitle\">You must submit a FAFSA to qualify<\/h2>\n<h2 class=\"ArticleBody-subtitle\">There&#8217;s a limit to how many Pell Grants you can get<\/h2>\n<div class=\"group\">\n<p>College students typically can receive the grant for up to six years. That&#8217;s important to know, considering <a href=\"https:\/\/nces.ed.gov\/fastfacts\/display.asp?id=569\" target=\"_blank\" rel=\"noopener\">more than half<\/a> of undergraduates take more than four years to graduate.<\/p>\n<\/div>\n<h2 class=\"ArticleBody-subtitle\">How aid is paid depends on your college<\/h2>\n<div class=\"group\">\n<p>At most colleges, the grant is given out in two disbursements, at the start of each term, Kantrowitz said.<\/p>\n<p>&#8220;However, many colleges prefer to make monthly or biweekly disbursements,&#8221; he added. &#8220;This is often called &#8216;Pell as a paycheck.'&#8221; \u00a0<\/p>\n<\/div>\n<h2 class=\"ArticleBody-subtitle\">Funds typically cover tuition, but other expenses qualify<\/h2>\n<div class=\"group\">\n<p>Pell Grant funds are applied first to tuition and fees, Kantrowitz said. Any college-owned or -operated housing could also be covered by the aid.<\/p>\n<p>If there&#8217;s still money left over after those costs are covered, it&#8217;s usually disbursed to the student within 14 days, Kantrowitz said.<\/p>\n<p>&#8220;The student can then use the money to pay for other college costs, such as textbooks,&#8221; he said.<\/p>\n<\/div>\n<h2 class=\"ArticleBody-subtitle\">You usually don&#8217;t have to pay the money back<\/h2>\n<div class=\"group\">\n<p>A\u00a0federal Pell Grant, unlike a\u00a0student loan, typically <a href=\"https:\/\/studentaid.gov\/understand-aid\/types\/grants\/pell\" target=\"_blank\" rel=\"noopener\">doesn&#8217;t have to be repaid<\/a>.<\/p>\n<p>The exceptions are rare, and include cases in which your enrollment status changed from full time to part time or if you left a program early.<\/p>\n<\/div>\n<\/div>\n<div class=\"WatchLiveRightRail-inline WatchLiveRightRail-container\" id=\"RegularArticle-WatchLiveRightRail-7\" data-test=\"watchLiveRightRail-4\" data-analytics=\"RegularArticle-watchLiveRightRail-7-4\">\n<div class=\"WatchLiveRightRail-contents\"><a href=\"https:\/\/www.cnbc.com\/live-tv\/\" class=\"WatchLiveRightRail-wlButton\">WATCH LIVE<img decoding=\"async\" src=\"https:\/\/static-redesign.cnbcfm.com\/dist\/4db8932b7ac3e84e3f64.svg\" class=\"WatchLiveRightRail-logo\" alt=\"logo\"   style=\"display:none\"><\/a><a href=\"https:\/\/www.cnbc.com\/live-tv\/\" class=\"WatchLiveRightRail-wlButtonMobile\">WATCH IN THE APP<\/a><\/div>\n<\/div>\n<\/div>\n<div class=\"PageBuilder-col-9 PageBuilder-col PageBuilder-article\"><\/div>\n<div class=\"PageBuilder-col-12 PageBuilder-col PageBuilder-article\">\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>As part of its massive $1.7 trillion spending package for 2023, Congress is planning to up the maximum annual Pell<\/p>\n","protected":false},"author":1,"featured_media":1899559,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[6962,11095,5458,3637,5876,3816,11096,3819,5319,5734],"class_list":["post-1783529","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report","tag-the","tag-11095","tag-bongino","tag-could","tag-grants","tag-next","tag-pell","tag-report","tag-rise","tag-year"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1783529","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1783529"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1783529\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1899559"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1783529"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1783529"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1783529"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}