December 26, 2022
While we wait to hear the fate of student loan forgiveness from the Supreme Court…. We got some positive news about Pell Grants – especially for the 7 million of you who are already qualified and the many more who are considering applying for one to help pay for college.
You remember how Congress passed that massive $1.7 trillion spending bill last week? Well, tucked into that bill was the biggest increase to the Pell Grant program in more than a decade. For the 2023-2024 school year the new Pell Grant award increased by $500 to $7,395. That’s on top of the $400 raise that was given to Pell Grants in the 2022-2023 year.
Pell Grants are usually awarded only to undergraduate students who display exceptional financial need. To learn more about whether or not to apply you can go to the Education Department’s website here.
