As More Students Apply For Aid Is The Pell Grant Pool Stretching Too Thin

Concerns are rising regarding the Pell Grant program, which falls under the Department of Education, particularly amid President Trump’s intentions to downsize this federal entity. Although it’s improbable the Pell Grant will be entirely abolished, its financing is depleting. Without supplementary funds, student aid may see reductions or diminish entirely within the next decade. In the 2022-2023 academic year, the federal government allocated $27.2 billion; however, sustainability is questionable. The Committee for a Responsible Federal Budget cautions that the program could exhaust its reserves by 2025, facing a staggering $71 billion to $111 billion shortfall over a decade. Established initially in the 1940s with the GI Bill, the Pell Grant now assists numerous low-income students, but its purchasing power has declined significantly. Current discussions urge Congress to #DoublePell and increase the maximum award to $13,000. Additionally, there’s an urgent need to enhance FAFSA completion rates to ensure future access to this vital support for education.