Washington, D.C.– The Department of Education has announced that the maximum Pell Grant level will be $5,550 for the upcoming 2011-2012 school year. The figure matches the highest in history and reflects lawmakers’ commitment in the last Congress to help expand college access regardless of family income.
“This economy has made federal assistance more crucial than ever for parents looking to send their students to college,” said Rep. Raúl M. Grijalva, who sits on the House Committee on Education and The Workforce. “Having a competitive and successful workforce means educating every student who wants to go to college, and Pell Grants remain one of the best ways to make that happen.”
Pell Grants are given to students by the Department of Education through the school based on students’ financial need. Approximately nine million American students will havereceived some form of Pell Grant assistance in academic year 2010-2011.
As part of the Student Aid and Fiscal Responsibility Act, the same educational reform package that ensured the Pell Grant limit would not decrease, the interest rate for need-based student loans will go down to 3.4 percent on July 1. Pell Grants are not loans and do not need to be repaid.
For more information and to review Department of Education documents outlining the Pell Grant process, visit the Department’s Pell Grant announcement Web page at http://ifap.ed.gov/dpcletters/P1101.html.