President Obama’s fiscal year 2011 budget includes $156 billion in student aid, a second consecutive increase in Pell Grant funds, and a lower cap for student loan repayments—but financial aid officials said the proposals fall short of policy changes that would make college universally accessible.
The president’s budget, released Feb. 1, raises Pell Grants from $5,500 to $5,710. The Pell Grant program would see a $17 billion increase under the administration’s plan; Obama boosted Pell Grants by 13 percent in his fiscal 2010 budget. The budget calls for linking Pell Grant increases to the annual inflation rate plus 1 percent, making the maximum Pell Grant nearly $7,000 in 10 years.
The administration’s student aid package marks a 60-percent increase since 2008.…Read More